Mixed-Use Property with River
601 River Rock Blvd, Murfreesboro, TN 37128
For Sale
New
Contact for pricing
Multiple buildings support office, retail, warehouse, and outdoor recreation uses.
Property Size38,274 SF
Lot Size8.00 Acres
Days on Market6
Property Features for 601 River Rock Blvd
General Information
Standard status
Size
Lot size
Property subtype
Site & Location
Highway Access
Road Access
Mixed-Use Components
Additional Details
Currently Operating
Property Use
Amenities
outdoor pickleball facility
Building Details
Building Size
Buildings
Listing Agency:
Keller Williams Realty - Murfreesboro
Listed By:
Paul Smith · License #315360
(615) 419-6005
Source:
Thefullerproperties
Added: Nov 3
Changed: Nov 4
Last Checked: Nov 6 at 6:06PM
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 Keller Williams Realty - Murfreesboro
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Investment Insights
Based on property information with market context.
Set on approximately 8 acres in Murfreesboro, this mixed-use property includes two recently built brick buildings for office and retail use, plus a warehouse with office space. An outdoor pickleball facility is also operating on site. A separate vacant parcel fronts a road and is included in the property.
Access is available from Tommy Bragg Drive, a connector to the New Salem Highway corridor and Costco. The property also has more than 300 feet of frontage along the Stones River.
Access is available from Tommy Bragg Drive, a connector to the New Salem Highway corridor and Costco. The property also has more than 300 feet of frontage along the Stones River.
Key Highlights
- Approximately 8 acres with two brick office/retail buildings, a warehouse with office space, and an outdoor pickleball facility
- More than 300 feet of frontage along the Stones River
- Separate vacant parcel with road frontage
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$445,222
Cap Rate
2.97%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$8,904,440
$8.9M
Cap Rate 7%
$6,360,314
$6.4M
Cap Rate 9%
$4,946,911
$4.9M
Market Conditions
NOI Build-Up for 38,274 SF
Gross rent
$757.8K $19.80/SF
− Vacancy
−$45.5K −$1.19/SF
EGI
$712.4K $18.61/SF
− OpEx
−$267.1K −$6.98/SF
NOI
$445.2K $11.63/SF
Area
Murfreesboro, TN
Vacancy
6.00%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$8,904,440
Cap Rate 7%
$6,360,314
Cap Rate 9%
$4,946,911
Alternative Uses
Best Use
Mixed Use
$6.36M
$5.57M – $7.42M
NOI $445,222 @ 7.0% cap · market cap 2.97%
Second Best
Retail
$6.36M
$5.56M – $7.42M
NOI $445,199 @ 7.0% cap · market cap 2.97%
Theoretical Best
Office A
$9.65M
$8.44M – $11.26M
NOI $675,429 @ 7.0% cap · market cap 4.50%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
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Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
548
Businesses Nearby
Explore this area
Business Placement
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
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Market
Vacancy Rate% for Industrial in South region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Multiple buildings support office, retail, warehouse, and outdoor recreation uses.
Where is this mixed-use property located?
The property is located at 601 River Rock Blvd Murfreesboro, TN.
What is the asking price?
The asking price for this property is $15,000,000.
What are key features of this property?
This property features: Approximately 8 acres with two brick office/retail buildings, a warehouse with office space, and an outdoor pickleball facility; More than 300 feet of frontage along the Stones River; Separate vacant parcel with road frontage
