For Sale
$485,000
2104 Red Mile Rd, Murfreesboro, TN 37127
Well cared for full brick ranch on almost
Property Size1,930 SF
Lot Size0.99 Acres
Price / SF$251.30
Days on Market162
Property Features for 2104 Red Mile Rd
General Information
Standard status
Active
Property type
Triplexes, Multifamily properties, Residential income properties
Size
1,930 SF
Total Parking Spaces
2
Lot size
0.99 Acres
Building Details
Year Built
1990
Listed By:
Amx Avg
(518) 572-1820
Added: May 11
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Investment Insights
Based on property information with market context.
Key Highlights
- Well cared for full brick ranch on almost an acre! Freshly painted throughout!
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$17,618
Cap Rate
3.63%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$352,360
$352.4K
Cap Rate 7%
$251,686
$251.7K
Cap Rate 9%
$195,756
$195.8K
Market Conditions
NOI Build-Up for 1,930 SF
Gross rent
$26.6K $13.80/SF
− Vacancy
−$1.5K −$0.76/SF
EGI
$25.2K $13.04/SF
− OpEx
−$7.6K −$3.91/SF
NOI
$17.6K $9.13/SF
Area
Murfreesboro, TN
Vacancy
5.50%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$352,360
Cap Rate 7%
$251,686
Cap Rate 9%
$195,756
Alternative Uses
Best Use
Multifamily LT 5
$251.7K
$220.2K – $293.6K
NOI $17,618 @ 7.0% cap · market cap 3.63%
Second Best
Apartment 5plus
$226.5K
$198.2K – $264.2K
NOI $15,852 @ 7.0% cap · market cap 3.27%
Theoretical Best
Office A
$486.6K
$425.7K – $567.7K
NOI $34,059 @ 7.0% cap · market cap 7.02%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
36
Businesses Nearby
Explore this area
Business Placement
Demographics for 37127, TN
20,353
Population
7,710
Households
2.6
Avg Household Size
36
Median Age
39%
College-Educated
96%
High-School Grad
47.1 sq mi
ZIP Area
432
Density / Sq Mi
$85,947
Median Household Income
$43,037
Median Earnings
$1,274
Median Rent
$329,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Triplex - Well cared for full brick ranch on almost
Where is this triplex located?
The property is located at 2104 Red Mile Rd Murfreesboro, TN.
What is the asking price?
The asking price for this property is $485,000.
What are key features of this property?
This property features: Well cared for full brick ranch on almost an acre! Freshly painted throughout!
