Automotive Retail
New
For Sale
$4,960,000
2528 Old Fort Pkwy, Murfreesboro, TN 37128
The freestanding Advance Auto Parts location pairs an expanded inventory format with scheduled lease escalations.
Property Size14,739 SF
Lot Size2.00 Acres
Days on Market2
Property Features for 2528 Old Fort Pkwy
General Information
Standard status
Active
Size
14,739 SF
Lot size
2.00 Acres
Property subtype
Commercial
Lease Term
±12.25 YRS
Site & Location
Traffic Count
25,400 vehicles/day
Highway Access
Yes
Road Access
Yes
Building Details
Building Size
14,739 SF
Year Renovated
2023
Buildings
1
Tenancy
Single
Listing Agency:
Matthews Real Estate Investment Services - Orange County
Listed By:
Conrad Sarreal · License #01982875 (CA)
(214) 692-2847
Source:
Matthews
Added: Oct 14
Changed: Oct 15
Last Checked: Oct 15 at 2:25AM
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 Matthews Real Estate Investment Services - Orange County
Investment Insights
Based on property information with market context.
At 2528 Old Fort Pkwy, this freestanding Advance Auto Parts store occupies a nearly 2-acre parcel. The oversized format supports deeper inventory and distribution to surrounding stores. The site was converted to its current format in 2023. The lease runs for 15 years and provides for 10% rent increases every five years.
Old Fort Parkway carries approximately 25,400 vehicles per day, and I-24 is less than a mile away, with approximately 112,700 daily drivers. Major retailers within 2.5 miles include Sam’s Club, Kroger, Walmart, Home Depot, Target, and TJ Maxx. Nearby shopping destinations include Stones River Town Centre, with 487,000 SF, and The Avenue, an 811,000 SF open-air center.
Old Fort Parkway carries approximately 25,400 vehicles per day, and I-24 is less than a mile away, with approximately 112,700 daily drivers. Major retailers within 2.5 miles include Sam’s Club, Kroger, Walmart, Home Depot, Target, and TJ Maxx. Nearby shopping destinations include Stones River Town Centre, with 487,000 SF, and The Avenue, an 811,000 SF open-air center.
Key Highlights
- Freestanding Advance Auto Parts store on a nearly 2‑acre parcel
- Expanded store format supports deeper inventory and distribution to surrounding stores
- 2023 conversion to the current store format
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$171,443
Cap Rate
3.46%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,428,860
$3.4M
Cap Rate 7%
$2,449,186
$2.4M
Cap Rate 9%
$1,904,922
$1.9M
Market Conditions
NOI Build-Up for 14,739 SF
Gross rent
$256.5K $17.40/SF
− Vacancy
−$11.5K −$0.78/SF
EGI
$244.9K $16.62/SF
− OpEx
−$73.5K −$4.99/SF
NOI
$171.4K $11.63/SF
Area
Murfreesboro, TN
Vacancy
4.50%
Lease Rate
$17.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,428,860
Cap Rate 7%
$2,449,186
Cap Rate 9%
$1,904,922
Alternative Uses
Best Use
Retail
$2.45M
$2.14M – $2.86M
NOI $171,443 @ 7.0% cap · market cap 3.46%
Second Best
Industrial
$1.44M
$1.26M – $1.68M
NOI $101,027 @ 7.0% cap · market cap 2.04%
Theoretical Best
Office A
$3.72M
$3.25M – $4.34M
NOI $260,102 @ 7.0% cap · market cap 5.24%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Current Use
Lease Details
25,400 VPD
Traffic count
Single-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
888
Businesses Nearby
476k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 29%
Superstores 25%
Shops & Services 19%
Groceries 10%
Sam's Club
Superstores
117,545 visits/mo
0.1 miles
Kroger
Groceries
48,271 visits/mo
0.2 miles
Kohl's
Apparel
48,077 visits/mo
0.2 miles
Texas Roadhouse
Dining
47,843 visits/mo
0.3 miles
McDonald's
Dining
23,814 visits/mo
0.1 miles
Demographics for 37128, TN
70,329
Population
29,190
Households
2.4
Avg Household Size
34
Median Age
38%
College-Educated
95%
High-School Grad
56.7 sq mi
ZIP Area
1,240
Density / Sq Mi
$89,069
Median Household Income
$46,844
Median Earnings
$1,514
Median Rent
$364,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in South region
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Similar Off Market Nearby
- Enterprise Truck Rental — 3019 Franklin Rd, Murfreesboro, TN 37128
- Enterprise Rent-A-Car — 3019 Franklin Rd, Murfreesboro, TN 37128
- Storage Solutions — 2876 Old Fort Pkwy, Murfreesboro, TN 37128
- U-Haul Neighborhood Dealer — 124 john r rice blvd, murfreesboro, tn 37129
Frequently Asked Questions
What type of property is this?
Automotive property - The freestanding Advance Auto Parts location pairs an expanded inventory format with scheduled lease escalations.
Where is this automotive property located?
The property is located at 2528 Old Fort Pkwy Murfreesboro, TN.
What is the asking price?
The asking price for this property is $4,960,000.
What are key features of this property?
This property features: Freestanding Advance Auto Parts store on a nearly 2‑acre parcel; Expanded store format supports deeper inventory and distribution to surrounding stores; 2023 conversion to the current store format
