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

    450 Butler Dr Murfreesboro, TN 37127

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contract
    $7,500,000

    54,000 SF warehouse with 7 dock doors, currently leased.

    Property size:
    54,000 SF
    Lot size:
    4.74 Acres

    Property Features for 450 Butler Dr

    General Information

    Standard status
    Contract
    Size
    54,000 SF
    Lot size
    4.74 Acres

    Building Details

    Year built
    1978

    We can help!

    Listing Contact
    Debbie Young
    Source: Corcoran

    Listing Agency: ACTION HOMES Listing Agent: Debbie Young

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Industrial Warehouse with Interstate Exposure

    This is a 54,000 square foot former warehouse property zoned for heavy industrial use. The property has interstate exposure and is currently under lease. It features 7 dock doors located at the back of the building. The property includes approximately 3,750 square feet of upstairs space and 3,750 square feet of office space downstairs, both currently used by the owner.
    Location Intelligence

    Current Use by Public Records

    Lanes Trains And Automobiles Restaurant Murfreesboro Custom Tees Custom T-Shirt Store

    Suggested Use

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

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

    Similar Places Nearby

    Insourcing Inv, KO Storage, C & M Mini Storage, Lineage, Americold Logistics Murfreesboro

    Location Insight

    • Map
    • Local Demand
    City
    Murfreesboro
    County
    Rutherford
    State
    Tennessee
    Longitude
    -86.3889192
    Latitude
    35.8032091

    Nearby Similar for Sale

    • $300,000
      614 SF

      Pharmacy Building Available For Sale

      Commercial building previously used as a pharmacy since 1980.
      502 Highland Ter, Murfreesboro, TN 37130
      View Details
    • $675,000
      3,670 SF

      Versatile Commercial Building Near Nashville

      Commercial building suitable for auto shops, storage, or restoration.
      10956 Old Lebanon Rd, Murfreesboro, TN 37129
      View Details
    • Contact for pricing

      NW Broad Street Commercial Space

      Flexible retail, office, or storage space with prime frontage.
      1103 NW Broad St, Murfreesboro, TN 37129
      View Details
    • Contact for pricing

      Retail Center Near The Avenue

      9,167 SF retail center with strong national tenant lineup.
      2711 Medical Center Pkwy, Murfreesboro, TN 37129
      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 St, Murfreesboro, TN 37130
      View Details
    • $550,000
      2,146 SF

      Retail or Auto Shop Space

      2,146 SF commercial space suitable for retail or auto shop.
      5530 NW Broad St NW, Murfreesboro, TN 37129
      View Details
    • $349,000
      1,900 SF

      Barfield Area Commercial Office Building

      Commercial office building in high-demand Murfreesboro location, ideal for investment.
      239E Veterans Pkwy, Murfreesboro, TN 37128
      View Details
    • $2,085,000

      Restaurant in Growing Downtown Area

      NN+ leased Japanese restaurant in a rapidly growing city.
      521 NW Broad St, Murfreesboro, TN 37129
      View Details
    • $1,075,000
      3,709 SF

      Medical Office Near MTSU

      Well-maintained medical office near MTSU and downtown Murfreesboro.
      1045 N Highland Ave, Murfreesboro, TN 37130
      View Details
    • $3,999,900
      6,460 SF

      Turnkey Event Venue For Sale

      Ready-to-operate event venue suitable for weddings and large events.
      1902 Smith Hall Rd, Murfreesboro, TN 37130
      View Details
    • $3,599,000

      Log Cabin on Sprawling Acreage

      Luxury log cabin on 82+ acres, perfect for country living.
      7588 John Bragg Hwy, Murfreesboro, TN 37127
      View Details

    FAQs

    What type of property is this?
    Warehouse - 54,000 SF warehouse with 7 dock doors, currently leased.
    Where is this warehouse located?
    The property is located at 450 Butler Dr Murfreesboro, TN.
    What is the asking price?
    The asking price for this property is $7,500,000.
    What are key features of this property?
    This property features: - Zoned Heavy Industrial; - Great Interstate Exposure; - Over 54,000 Square Feet of space
    (615) 459-8000
    Request Owner's contact information
    450 Butler Dr Murfreesboro, TN 37127
    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.
    450 Butler Dr
    Murfreesboro, TN 37127
    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
    450 Butler Dr Murfreesboro, TN 37127
    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

    We can help!
    Listing Contact
    Debbie Young
    (615) 459-8000 (615) 300-5709
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!