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    New Salem Hwy Murfreesboro, TN 37128

    Sponsored
    For Sale
    $48,000,000

    1-400 Acres, Zoned Commercial, High Growth

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    393
    This exceptional commercial land offering in Murfreesboro, Tennessee presents a unique investment opportunity. Encompassing a substantial acreage ranging from 1 to 400 acres, this property is strategically located along New Salem Highway and Veterans Parkway, providing significant road frontage and excellent visibility. The land is zoned for a variety of commercial uses, including retail and office development, offering considerable flexibility for diverse projects. The seller is willing to subdivide the land to accommodate various development needs. All utilities are readily available, simplifying the development process. A portion of the property, specifically 19.3 acres, is also zoned for multi-family development, allowing for up to 175 units. This parcel is priced separately at $4,500,000. Situated in a high-growth corridor, this location benefits from a projected 13.6% population increase by 2026 and an average household income of $96,193 within a five-mile radius. The area's development is further enhanced by a new school complex and numerous new residential projects. Proximity to I-840 and I-24 ensures excellent accessibility and connectivity. This prime location offers unparalleled potential for significant return on investment. The asking price for the entire acreage is $48,000,000. Detailed information and subdivision options are available upon request.

    Property Features for 0 New Salem Hwy

    General Information

    Property type
    Land
    Lot Size
    43,560 SF

    HighLights

    • Zoned for retail, office, and other commercial uses.
    • Seller will subdivide the 1‑400 acre parcel; contact broker for details.
    • Located in Murfreesboro's high‑growth corridor with a new school and numerous residential developments.
    • High‑growth area with a projected 13.6% population increase by 2026 and $96,193 average household income within a five‑mile radius.
    • Significant road frontage on New Salem Highway and Veterans Parkway, providing excellent visibility and access to I‑24 and I‑840.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Map

    City
    Murfreesboro
    County
    Rutherford
    State
    Tennessee
    Longitude
    -86.4521247
    Latitude
    35.812094

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    FAQs

    What type of property is this?
    Land - 1-400 Acres, Zoned Commercial, High Growth
    Where is this land located?
    The property is located at New Salem Hwy Murfreesboro, TN.
    What is the asking price?
    The asking price for this property is $48,000,000.
    What are key features of this property?
    This property features: Zoned for retail, office, and other commercial uses.; Seller will subdivide the 1-400 acre parcel; contact broker for details.; Located in Murfreesboro's high-growth corridor with a new school and numerous residential developments.
    (615) 234-5020
    Request Owner's contact information
    New Salem Hwy Murfreesboro, TN 37128
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    Murfreesboro, TN 37128
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    Realmo Value Estimation

    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.

    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.

    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
    New Salem Hwy Murfreesboro, TN 37128
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