Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    3648 Shelbyville Hwy Murfreesboro, TN 37127

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $3,200,000

    5.5 AC lot with commercial potential in growing area.

    Type:Commercial
    Property size:
    2,503 SF
    Lot size:
    5.50 Acres
    Price / SF:
    $1,278/SF
    Added:
    Oct 8, 2025
    Days on Market:
    196
    Last Refresh:
    Apr 5 at 8:21 pm

    Property Features for 3648 Shelbyville Hwy

    General Information

    Standard status
    Active
    Size
    2,503 SF
    Lot size
    5.50 Acres
    Property subtype
    Commercial

    Building Details

    Year Built
    1984

    We can help!

    Listing Contact
    HANS NELSON
    HANS NELSON

    Listing agent HANS NELSON License #TN 360719

    Listing office CBS REALTY

    Listing date Oct 8, 2025

    Source Corcoran

    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 CBS REALTY

    Overview

    5.5 AC Commercial Potential Lot

    This 5.5-acre lot, currently zoned residential, presents commercial potential due to its location on a major corridor experiencing rapid growth. As a corner lot, it benefits from high visibility and accessibility. The property is situated approximately 3/4 miles from Kroger and offers convenient access to I-24, reachable within an approximate 5-minute drive. The location benefits from a high traffic count of 32,582 vehicles per day as of 2013. All utilities are available on site, supporting potential development. The property size is 2503 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Restaurant Real Estate Agency Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Murfreesboro
    County
    Rutherford
    State
    Tennessee
    Longitude
    -86.4042
    Latitude
    35.7718

    Nearby Similar for Sale

    • $1,000,000
      5,626 SF

      Multi-Use Property Near Downtown

      Versatile commercial property suitable for office, medical, or institutional use.
      507 N University St, Murfreesboro, TN 37130
      View Details
    • $2,000,000

      Murfreesboro Land I-840 Frontage

      6.21 acres of land with I-840 frontage in Murfreesboro, TN.
      11739 Mona Road, Murfreesboro, TN 37129
      View Details
    • $4,350,000
      12,000 SF

      Mixed-Use Investment Opportunity

      Multiple buildings with tenants and leases in Murfreesboro, TN.
      1635 Middle Tennessee Blvd, Murfreesboro, TN 37130
      View Details
    • $1,400,000
      7,200 SF

      Murfreesboro Commercial Building in CBD

      7,200 sqft commercial building in Murfreesboro's historic courthouse square.
      118 Walnut N Street, Murfreesboro, TN 37130
      View Details
    • $687,000

      Commercial Lot Near Highway 231

      Located off HWY 231 S, ideal for retail/professional use.
      3698 Shelbyville Hwy, Murfreesboro, TN 37127
      View Details
    • $1,200,000
      3,450 SF

      Murfreesboro Office Building For Sale

      3,450 SF office building in the heart of Murfreesboro.
      725 S Church Street, Murfreesboro, TN 37130
      View Details
    • $355,000
      577,936 SF

      Commercial Land in Growing Area

      1.3 acre commercial land with development potential near amenities.
      5285 Woodbury Pike, Murfreesboro, TN 37127
      View Details
    • $375,000
      624,309 SF

      Commercial Land with Development Potential

      1.43 acre commercial land near town with building pad.
      5317 Woodbury Pike, Murfreesboro, TN 37127
      View Details
    • $1,525,000
      3,500 SF

      Medical/Dental Office with Apartment

      Medical/dental office with upstairs apartment and expansion potential.
      117 Sulphur Springs Rd, MURFREESBORO, TN, 37129-2117
      View Details
    • $2,085,000

      Restaurant in Growing Downtown Area

      NN+ leased Japanese restaurant in a rapidly growing city.
      521 NW Broad Street, Murfeesboro, TN 37129
      View Details
    • $350,000
      1,100 SF

      Versatile Medical/Residential Zoned Property

      Property with CM-R zoning, suitable for medical or residential use.
      453 Forrest St, Murfreesboro, TN 37130
      View Details
    • Contact for pricing
      9,167 SF

      Retail Center Near The Avenue

      9,167 SF retail center with strong national tenant lineup.
      2711 Medical Center Pkwy, Murfreesboro, TN 37129
      View Details

    FAQs

    What type of property is this?
    Commercial land - 5.5 AC lot with commercial potential in growing area.
    Where is this commercial land located?
    The property is located at 3648 Shelbyville Hwy Murfreesboro, TN.
    What is the asking price?
    The asking price for this property is $3,200,000.
    What are key features of this property?
    This property features: Commercial Potential: Zoned residential but offers significant commercial development opportunities.; Prime Location: Situated on a major corridor in a rapidly growing area.; High Traffic Count: Benefits from substantial visibility with a traffic count of 32,582 vehicles per day.
    (615) 278-9800
    We can help!
    Listing Contact
    HANS NELSON
    HANS NELSON
    Real Estate License ID: TN 360719
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!