Mixed-Use Property in Murfreesboro,
1635 Middle Tennessee Blvd, Murfreesboro, TN 37130
For Sale
$4,350,000
Mixed-use property with multiple buildings and tenants in Murfreesboro.
Property Size31,560 SF
Lot Size3.97 Acres
Price / SF$137.83
Days on Market631
Property Features for 1635 Middle Tennessee Blvd
General Information
Standard status
Size
Lot size
Property subtype
Building Details
Year Built
Listing Agency:
SWANSON REALTY, LLC
(615) 848-2012
Listed By:
TIFFANY WILLIAMS · License TN #352415
(615) 642-0441
Source:
Corcoran
Added: Feb 19, 2025
Changed: Aug 8
Last Checked: Aug 20 at 10:17AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of SWANSON REALTY, LLC
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Investment Insights
Based on property information with market context.
This mixed-use property includes multiple buildings that must be sold together, identified by parcel numbers 102D M 03700 and 102D M 03702. The opportunity includes multiple tenants and leases that will convey to the new owner. Note that the tower does not convey. The property at 1635 Middle Tennessee Blvd features 4,656 square feet of retail space. The property at 1637 Middle Tennessee Blvd contains 1,240 square feet of retail space. There is also a portable building at 1639 Middle Tennessee Blvd with 1,640 square feet. The property at 1641 Middle Tennessee Blvd offers 12,000 square feet, including 2,943 square feet of office space, 2,563 square feet of warehouse space, and 6,494 square feet of conditioned warehouse space. Finally, the property at 1647 Middle Tennessee Blvd provides 12,000 square feet, consisting of 323 square feet of office space, 5,150 square feet of warehouse space, and 6,527 square feet of retail space. The total property size is 31,560 square feet.
Key Highlights
- Multiple buildings included in the sale (Parcels 102D M 03700 and 102D M 03702).
- Opportunity to acquire multiple tenants with existing leases.
- Total square footage across all buildings is approximately 31,536 sf.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$367,122
Cap Rate
8.44%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$7,342,440
$7.3M
Cap Rate 7%
$5,244,600
$5.2M
Cap Rate 9%
$4,079,133
$4.1M
Market Conditions
NOI Build-Up for 31,560 SF
Gross rent
$624.9K $19.80/SF
− Vacancy
−$37.5K −$1.19/SF
EGI
$587.4K $18.61/SF
− OpEx
−$220.3K −$6.98/SF
NOI
$367.1K $11.63/SF
Area
Murfreesboro, TN
Vacancy
6.00%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$7,342,440
Cap Rate 7%
$5,244,600
Cap Rate 9%
$4,079,133
Alternative Uses
Best Use
Office B
$5.96M
$5.22M – $6.96M
NOI $417,539 @ 7.0% cap · market cap 9.60%
Second Best
Mixed Use
$5.24M
$4.59M – $6.12M
NOI $367,122 @ 7.0% cap · market cap 8.44%
Theoretical Best
Office A
$7.96M
$6.96M – $9.28M
NOI $556,946 @ 7.0% cap · market cap 12.80%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
347
Businesses Nearby
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Business Placement
Demographics for 37130, TN
59,677
Population
25,838
Households
2.3
Avg Household Size
32
Median Age
37%
College-Educated
91%
High-School Grad
54.1 sq mi
ZIP Area
1,103
Density / Sq Mi
$60,389
Median Household Income
$37,710
Median Earnings
$1,157
Median Rent
$347,100
Median Home Value
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Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Mixed-use property with multiple buildings and tenants in Murfreesboro.
Where is this mixed-use property located?
The property is located at 1635 Middle Tennessee Blvd Murfreesboro, TN.
What is the asking price?
The asking price for this property is $4,350,000.
What are key features of this property?
This property features: Multiple buildings included in the sale (Parcels 102D M 03700 and 102D M 03702).; Opportunity to acquire multiple tenants with existing leases.; Total square footage across all buildings is approximately 31,536 sf.
