Pharmacy Building Available For
502 Highland Ter Murfreesboro, TN 37130
502 Highland Ter, Murfreesboro, TN, 37130
$230,000
For Sale
$230,000
Commercial building previously used as a pharmacy since 1980.
Property Size614 SF
Lot Size0.29 Acres
Price / SF$374.59
Days on Market166
Property Features for 502 Highland Ter
General Information
- Standard status
- Active
- Size
- 614 SF
- Lot size
- 0.29 Acres
- Property subtype
- Commercial
Building Details
- Year Built
- 1980
Listing Agency
RELIANT REALTY ERA POWERED
(615) 617-3551
Listed by
CHUCK SHAW
Source
Corcoran
Added: Feb 3 Checked: Jul 19 at 4:40 am
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 RELIANT REALTY ERA POWERED
Investment Insights
Based on property information with market context.
This commercial building, with a size of 614 square feet, has been used as a pharmacy since 1980. The property is being sold as is. The last tenant has vacated the premises.
Key Highlights
- Established Pharmacy location since 1980.
- Building built in 1980.
- Vacant and ready for new tenant or owner.
Local Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $11.4k | $18.60 |
| − Vacancy | −$457 | −$0.74 |
| EGI | $11.0k | $17.86 |
| − OpEx | −$2.7k | −$4.46 |
| NOI | $8.2k | $13.39 |
614 SF · lease $18.60/SF/yr · vacancy 4.00% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$117.5K
$102.8K – $137.1K
NOI $8,223 @ 7.0% cap · market cap 3.58%
Second Best
Retail
$102.0K
$89.3K – $119.0K
NOI $7,142 @ 7.0% cap · market cap 3.11%
Theoretical Best
Office A
$154.8K
$135.4K – $180.6K
NOI $10,835 @ 7.0% cap · market cap 4.71%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Terrace Pharmacy
Pharmacy
Larry Wilkinson, DPH
Pharmacy
Similar For Sale Nearby
Similar Off Market Nearby
- Ascension Rx - Saint Louise Pharmacy — 1020 N Highland Ave Suite B, Murfreesboro, TN 37130
- StrongBody Nutrition — 833 Memorial Blvd suite c, Murfreesboro, TN 37129
- The Peacock Apothecary — 406 W Burton St, Murfreesboro, TN 37130
- Stones River Hydration and Wellness — 405 N Front St, Murfreesboro, TN 37130
- Ruck Nutrition — 833 Memorial Blvd C, Murfreesboro, TN 37129
FAQs
What type of property is this?
Drug store - Commercial building previously used as a pharmacy since 1980.
Where is this drug store located?
The property is located at 502 Highland Ter Murfreesboro, TN.
What is the asking price?
The asking price for this property is $230,000.
What are key features of this property?
This property features: Established Pharmacy location since 1980.; Building built in 1980.; Vacant and ready for new tenant or owner.
