Corner Lot Garage
For Sale
$1,150,000
6859 Lebanon Rd, Murfreesboro, TN 37129
Two commercial garage buildings on a corner lot with Highway 231 frontage, currently leased to long-term tenants.
Property Size3,712 SF
Price / SF$309.81
Days on Market58
Property Features for 6859 Lebanon Rd
General Information
Standard status
Active
Size
3,712 SF
Property subtype
Commercial
Site & Location
Highway Access
Yes
Road Access
Yes
Additional Details
Business Included
Yes
Building Details
Year Built
1965
Listing Agency:
UNITED REAL ESTATE MIDDLE TENNESSEE
(615) 624-8380
Listed By:
CHANCE BAKER · License #343617
Source:
Corcoran
Added: Jun 4
Changed: Jul 10
Last Checked: Jul 22 at 10:11AM
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 UNITED REAL ESTATE MIDDLE TENNESSEE
Investment Insights
Based on property information with market context.
This income-producing property includes two commercial garage buildings on a single corner lot. Both garage buildings are currently occupied by long-term tenants, providing an existing rental income stream. The combined garages generate $8,000 per month in rental revenue.
The property is located at 6859 Lebanon Road in Murfreesboro, Tennessee, with frontage along Highway 231. Its corner-lot positioning supports convenient access and visibility from this heavily traveled roadway.
For investors looking for an asset with established occupancy, this offering provides two separate garage buildings under long-term tenancy. The existing tenant base and ongoing rental income may appeal to buyers seeking to add a multi-garage commercial property with current leases in place and prominent Highway 231 exposure.
The property is located at 6859 Lebanon Road in Murfreesboro, Tennessee, with frontage along Highway 231. Its corner-lot positioning supports convenient access and visibility from this heavily traveled roadway.
For investors looking for an asset with established occupancy, this offering provides two separate garage buildings under long-term tenancy. The existing tenant base and ongoing rental income may appeal to buyers seeking to add a multi-garage commercial property with current leases in place and prominent Highway 231 exposure.
Key Highlights
- Two commercial garage buildings on a corner lot with frontage along Hwy 231 in Murfreesboro, TN
- Both garage buildings are currently leased to long‑term tenants
- Total rental revenue is $8,000 per month
Financial Insights For Warehouse
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 | $42.3k | $11.40 |
| − Vacancy | −$1.5k | −$0.40 |
| EGI | $40.8k | $11.00 |
| − OpEx | −$6.1k | −$1.65 |
| NOI | $34.7k | $9.35 |
3,712 SF · lease $11.40/SF/yr · vacancy 3.50% · expense 15.00%
Alternative Uses
Best Use
Warehouse
$495.9K
$433.9K – $578.5K
NOI $34,710 @ 7.0% cap · market cap 3.02%
Second Best
Industrial
$363.5K
$318.1K – $424.1K
NOI $25,444 @ 7.0% cap · market cap 2.21%
Theoretical Best
Office A
$935.8K
$818.8K – $1.09M
NOI $65,506 @ 7.0% cap · market cap 5.70%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
320
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 37129, TN
60,494
Population
24,548
Households
2.5
Avg Household Size
37
Median Age
39%
College-Educated
95%
High-School Grad
80.0 sq mi
ZIP Area
756
Density / Sq Mi
$89,772
Median Household Income
$48,137
Median Earnings
$1,597
Median Rent
$371,100
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Similar Off Market Nearby
- Boat and RV storage — Murfreesboro, TN 37129
- Jefferson Pike Multi Storage — 802 W Jefferson Pike, Murfreesboro, TN 37129
Frequently Asked Questions
What type of property is this?
Warehouse - Two commercial garage buildings on a corner lot with Highway 231 frontage, currently leased to long-term tenants.
Where is this warehouse located?
The property is located at 6859 Lebanon Rd Murfreesboro, TN.
What is the asking price?
The asking price for this property is $1,150,000.
What are key features of this property?
This property features: Two commercial garage buildings on a corner lot with frontage along Hwy 231 in Murfreesboro, TN; Both garage buildings are currently leased to long‑term tenants; Total rental revenue is $8,000 per month
