2963 Church St Murfreesboro, TN 37127
- Retail properties
- 2,595 SF
Current Use by Public Records
- H.B Gutter Care / Gutter Cleaning Service
Property Details for 2963 Church St
- Year built
- 2024
- Property size
- 2,595 SF
- Property type
- Retail properties
- Property subtype
- Restaurants
Description
This exceptional investment opportunity presents a brand-new, 2,595 square-foot CAVA restaurant in Murfreesboro, Tennessee. Located at 2963 S Church St, 37127, this property boasts a prime location with excellent visibility and accessibility along a major arterial road, South Church Street (50,028 AADT), just 1.5 miles from I-24 (138,023 AADT). The 15-year absolute NNN lease with CAVA (NYSE: CAVA) commenced November 1, 2024, and includes four 5-year renewal options. The lease features a 10% rent increase every five years, providing a strong hedge against inflation. The property benefits from a corporate guarantee and a highly desirable location near numerous major retailers, including Walmart, Kroger, ALDI, Planet Fitness, Walgreens, and significant retail centers like The Avenue Murfreesboro and The Oaks, attracting millions of annual visitors. The building was constructed in 2024 and offers a highly functional footprint. The property's strong performance is reflected in the 5.00% cap rate and $160,890 annual net operating income (NOI). The asking price is $3,218,000, translating to $1,240.08 per square foot. The low submarket vacancy rate of 1.8% further underscores the desirability of this location. This is a compelling investment opportunity with significant long-term growth potential.
Value Estimation
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Murfreesboro
- County
- Rutherford
- State
- Tennessee
- Longitude
- -86.3996
- Latitude
- 35.7875
