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    Joe B Jackson Pkwy Murfreesboro, TN 37127
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    Joe B Jackson Pkwy Murfreesboro, TN 37127

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    • Land
    • 2.98 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Land

    Property Details for 0 Joe B Jackson Pkwy

    Lot size
    2.98 lot acres
    Property type
    Land
    Property subtype
    Industrial properties

    Description

    This exceptional 2.98-acre industrial land parcel presents a remarkable investment opportunity in Murfreesboro, Tennessee. Strategically located at the northwest corner of Joe B Jackson Parkway and Butler Road, this property boasts unparalleled visibility and accessibility due to its proximity to Interstate 24. The site benefits significantly from its location near a newly opened Buc-ee's travel center and a soon-to-open QuikTrip, both of which are expected to generate substantial traffic volume. This high-traffic intersection is further enhanced by a new traffic signal currently being installed and recent road realignments on Butler and Elam Roads, improving traffic flow and accessibility. Currently zoned Light Industrial, the property is in the process of annexation to General Industrial zoning and will gain access to city sewer services, expanding its development potential. This flexible zoning allows for a wide range of commercial uses, including restaurants, fast food establishments, and medical facilities. The property's location within Murfreesboro's rapidly expanding commercial corridor, coupled with the anticipated increase in traffic from the nearby anchor developments, makes this a prime location for businesses seeking maximum exposure and growth potential. The site is development-ready, offering investors a unique opportunity to capitalize on the area's booming commercial growth. The asking price is $2,600,000.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Murfreesboro
    County
    Rutherford
    State
    Tennessee
    Longitude
    -86.377
    Latitude
    35.7831

    Comparable in this City

    • Value Estimation by Request

      2917 Elam Rd

      Land
      2917 Elam Rd, Murfreesboro, TN 37127
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    • Value Estimation by Request
      12.30 Acres

      John Bragg Hwy

      Land • 12.30 Acres
      0 John Bragg Hwy, Murfreesboro, TN 37127
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    • Value Estimation by Request
      53,000 SF

      1836 Joe B Jackson Pkwy

      Manufacturing properties • 53,000 SF
      1836 Joe B Jackson Pkwy, Murfreesboro, TN 37127
      View Details
    • Value Estimation
      $2,850,000
      174,917 SF

      625 Butler St

      HEAVY INDUSTRIAL • 174,917 SF
      625 Butler St, Murfreesboro, TN 37127-5531
      View Details
    • Value Estimation by Request
      25,500 SF

      1710 Butler Dr

      Distribution properties • 25,500 SF
      1710 Butler Dr, Murfreesboro, TN 37127
      View Details
    • Value Estimation by Request
      1.40 Acres

      Joe B Jackson Pkwy And Manchester Hwy

      Land • 1.40 Acres
      0 Joe B Jackson Pkwy And Manchester Hwy, Murfreesboro, TN 37127
      View Details

    Similar Nearby for Sale

    • $4,800,000

      Land Available For Sale

      Land available for sale at 3518 Shelbyville Hwy, Murfreesboro, TN.
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      Land For Sale

      Land available for sale.
      John Bragg Hwy, Murfreesboro, TN 37127
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    • $2,200,000
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      Commercial Land with Permits

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    • $2,250,000

      6.56 Acre Commercial Tract

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      7 Acres Zoned Heavy Industrial

      7 acres of heavy industrial land backing up to I-24.
      1836 Joe B Jackson Pkwy, Murfreesboro, TN 37127
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      Prime Land on Shelbyville Highway

      13+ acres of land with prime road frontage.
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    Similar Nearby for Lease

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      125,175 SF

      Murfreesboro Warehouse Space Available

      200,755 square foot warehouse space for lease in Murfreesboro.
      606 Butler Dr, Murfreesboro, TN 37127
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    • Contact for pricing
      378,560 SF

      Murfreesboro Warehouse Space Available

      378,560 SF warehouse with ample parking in Murfreesboro.
      1703 Joe B Jackson Pkwy, Murfreesboro, TN 37127
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    • Contact for pricing
      369,972 SF

      Murfreesboro Warehouse Space Available

      Large industrial warehouse space available for lease in Murfreesboro.
      2011 Butler Dr, Murfreesboro, TN 37127
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      7,500 SF

      Murfreesboro Warehouse Space Available

      9,013 SF warehouse space for lease in Murfreesboro.
      2347-2349 Handley St, Murfreesboro, TN 37127
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      Future Paved Parking and Storage

      11.20 acres for trailer storage, completion Q2 2024.
      2917 Elam Rd, Murfreesboro, TN 37127
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    • Contact for pricing
      13,000 SF

      Prime Land Near Interstate 24

      High-visibility land for lease near future Bucee's and coffee chain.
      3302 Elam Rd, Murfreesboro, TN 37127
      View Details
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    Murfreesboro, TN 37127
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    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
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