2693 Church St Murfreesboro, TN 37127
- Retail properties
- 2,335 SF
Current Use by Public Records
- Retail properties
Property Details for 2693 Church St
- Year built
- 2024
- Property size
- 2,335 SF
- Property type
- Retail properties
- Property subtype
- Restaurants
Description
This exceptional investment opportunity presents a brand-new, 2,335-square-foot Chipotle restaurant located at 2693 S Church St, Murfreesboro, TN 37127. The property boasts a 15-year absolute NNN lease commencing November 29, 2024, and expiring November 30, 2039, with three 5-year renewal options. The lease includes a 10% rent increase every five years, providing a built-in hedge against inflation. The tenant, Chipotle, is a credit-rated, publicly traded company offering a strong corporate guarantee. This single-tenant property features a drive-thru component and is the first all-electric Chipotle in Tennessee, equipped with an 800A electrical panel. The asking price is $3,381,000, representing a cap rate of 4.65% and a NOI of $157,216. The property benefits from its prominent location on South Church Street (50,028 AADT), approximately 1.5 miles from I-24 (138,023 AADT), providing excellent access and visibility. The surrounding area boasts high traffic counts and numerous major retailers, including Walmart Supercenter, Kroger, ALDI, Planet Fitness, Walgreens, The Avenue Murfreesboro, and The Oaks, ensuring high foot traffic and strong consumer demographics. The site enjoys a 2.1% annual population growth rate within a 3-mile radius. This is a rare opportunity to acquire a high-performing, low-maintenance investment property with a strong tenant and significant long-term growth potential.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Murfreesboro
- County
- Rutherford
- State
- Tennessee
- Longitude
- -86.3981
- Latitude
- 35.8027
