Medical Office
509 Highland Ter, Murfreesboro, TN 37130
For Sale
New
$875,000
Built in 1982, this medical office property is in Murfreesboro.
Property Size3,127 SF
Days on Market5
Property Features for 509 Highland Ter
General Information
Standard status
Size
Zoning
Building Details
Building Size
Year Built
Listed By:
Karol Faragalli
(615) 289-3359
Source:
Evrealestate
Added: Nov 5
Changed: Nov 8
Last Checked: Nov 8 at 3:54PM
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 Karol Faragalli
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Investment Insights
Based on property information with market context.
This medical office property was constructed in 1982 and is located at 509 Highland Ter in Murfreesboro, Rutherford County, Tennessee.
Key Highlights
- Medical office property built in 1982
- Located at 509 Highland Ter in Murfreesboro, Rutherford County
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$41,370
Cap Rate
4.73%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$827,400
$827.4K
Cap Rate 7%
$591,000
$591.0K
Cap Rate 9%
$459,667
$459.7K
Market Conditions
NOI Build-Up for 3,127 SF
Gross rent
$65.7K $21.00/SF
− Vacancy
−$10.5K −$3.36/SF
EGI
$55.2K $17.64/SF
− OpEx
−$13.8K −$4.41/SF
NOI
$41.4K $13.23/SF
Area
Murfreesboro, TN
Vacancy
16.00%
Lease Rate
$21.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$827,400
Cap Rate 7%
$591,000
Cap Rate 9%
$459,667
Alternative Uses
Best Use
Office B
$591.0K
$517.1K – $689.5K
NOI $41,370 @ 7.0% cap · market cap 4.73%
Second Best
Healthcare Medical
$544.4K
$476.4K – $635.2K
NOI $38,111 @ 7.0% cap · market cap 4.36%
Theoretical Best
Office A
$788.3K
$689.8K – $919.7K
NOI $55,183 @ 7.0% cap · market cap 6.31%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
876
Businesses Nearby
Balanced
Demand for This Use
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Business Placement
Demographics for 37130, TN
59,677
Population
25,838
Households
2.3
Avg Household Size
32
Median Age
37%
College-Educated
91%
High-School Grad
54.1 sq mi
ZIP Area
1,103
Density / Sq Mi
$60,389
Median Household Income
$37,710
Median Earnings
$1,157
Median Rent
$347,100
Median Home Value
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Market
Vacancy Rate% for Office in South region
Similar Off Market Nearby
- Mid South Vet Lab — 504 n maney ave, murfreesboro, tn 37130
- Dr. Lisa Bartolotto — 1616 Memorial Blvd, Murfreesboro, TN 37129
- Murfreesboro Animal Clinic — 1616 Memorial Blvd, Murfreesboro, TN 37129
Frequently Asked Questions
What type of property is this?
Medical Office Space - Built in 1982, this medical office property is in Murfreesboro.
Where is this medical office space located?
The property is located at 509 Highland Ter Murfreesboro, TN.
What is the asking price?
The asking price for this property is $875,000.
What are key features of this property?
This property features: Medical office property built in 1982; Located at 509 Highland Ter in Murfreesboro, Rutherford County
