Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    1006 Memorial Blvd Murfreesboro, TN 37129-2405
    Back to Search
    Property profile & analytics

    1006 Memorial Blvd, Murfreesboro, TN 37129-2405

    View on Map
    • Turn key restaurants
    • 6,393 SF
    • 1.99 lot acres
    Off-Market
    Last Sale Jan 24, 2025
    $2,650,000
    Property ID
    US80-0118517
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    $2,855,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • ATM / Atm
    • El Toro Mexican Restaurant / Restaurant

    Property Details for 1006 Memorial Blvd

    Year built
    1986
    Construction
    FRAME
    Lot size
    1.99 lot acres
    Property type
    Turn key restaurants
    APN
    091F-E-022.00-000
    APU
    091FE02200000

    Description

    This exceptional 6,650-square-foot, Class A restaurant property, formerly an O'Charley's, presents a turnkey opportunity for owner-users seeking a value-add investment. Located at 1006 Memorial Blvd, Murfreesboro, TN 37129, this single-story building sits on a substantial 1.99-acre lot boasting 222 feet of frontage on Memorial Boulevard, a major thoroughfare with a daily traffic count of 34,742 vehicles. Built in 1986 and renovated in 2021, the property includes 148 parking spaces and is zoned for commercial use. The sale includes all fixtures, furniture, and equipment (FF&E). The property is currently occupied, offering immediate income potential. This prime location offers excellent visibility and accessibility, situated near I-24 in Rutherford County. The asking price is $2,750,000. The property's spacious layout and ample parking make it ideal for a variety of restaurant concepts. The large lot size also presents potential for future expansion or development. The property is available for immediate occupancy, starting August 14, 2024. This is a rare opportunity to acquire a well-maintained, established restaurant property in a high-traffic area.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $3,265,000
      Market price range: $2.50M - $5.48M

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

    Location Insight

    • Map
    • Local Demand
    City
    Murfreesboro
    County
    Rutherford
    State
    Tennessee
    Longitude
    -86.392
    Latitude
    35.8578
    CBSA code
    34980
    CBSA name
    NASHVILLE-DAVIDSON--MURFREESBORO--FRANKLIN, TN METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $22,328
    $376,520
    $412,780
    $789,300
    -
    $941,300
    $1,031,950
    $1,973,250

    Comparable in this City

    • Value Estimation by Request
      4,915 SF

      1728 Old Ft Pkwy

      RESTAURANT
      1728 Old Ft Pkwy, Murfreesboro, TN 37129-3384
      View Details
    • Value Estimation
      $825,000
      1,800 SF

      3219 Memorial Blvd

      RESTAURANT
      3219 Memorial Blvd, Murfreesboro, TN 37129-5255
      View Details
    • Value Estimation
      $4,290,000
      5,788 SF

      1714 Old Ft Pkwy

      RESTAURANT
      1714 Old Ft Pkwy, Murfreesboro, TN 37129-3351
      View Details
    • Value Estimation
      $530,000
      9,020 SF

      1115 Broad St

      RESTAURANT
      1115 Broad St, Murfreesboro, TN 37129-2328
      View Details
    • Value Estimation
      $670,000
      6,442 SF

      1968 Old Ft Pkwy

      RESTAURANT
      1968 Old Ft Pkwy, Murfreesboro, TN 37129-6900
      View Details
    • Value Estimation
      $1,635,000
      30,008 SF

      1986 Medical Ctr Pkwy

      RESTAURANT
      1986 Medical Ctr Pkwy, Murfreesboro, TN 37129-2254
      View Details

    Similar Nearby for Sale

    • $2,085,000

      Restaurant in Growing Downtown Area

      NN+ leased Japanese restaurant in a rapidly growing city.
      521 NW Broad St, Murfreesboro, TN 37129
      View Details
    • Contact for pricing

      Retail Center Near The Avenue

      9,167 SF retail center with strong national tenant lineup.
      2711 Medical Center Pkwy, Murfreesboro, TN 37129
      View Details
    • Contact for pricing
      4,210 SF

      KFC Restaurant Investment Opportunity

      Long-term leased KFC restaurant with drive-thru in Murfreesboro, TN.
      1816 Memorial Blvd, Murfreesboro, TN 37129
      View Details
    • Contact for pricing
      15,156 SF

      Occupied Strip Center For Sale

      100% occupied strip center, Kroger-anchored, retail opportunity.
      2327 Memorial Blvd, Murfreesboro, TN 37129
      View Details
    • $1,700,000

      2.75-Acre Corner Lot in Murfreesboro

      2.75-acre corner lot with 2,275 SF improvement near I-24.
      535A NW Broad St, Murfreesboro, TN 37129
      View Details
    • $1,338,804

      Commercial Outparcel at River Landing

      Hard corner commercial/retail outparcel in growing Tennessee city.
      2 NW Broad St, Murfreesboro, TN 37129
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      12,000 SF

      Retail Space in Class A Center

      Class A shopping center with high retail sales volume.
      1851 Old Fort Pkwy, Murfreesboro, TN 37129
      View Details
    • Contact for pricing
      8,750 SF

      Retail Space in Kroger-Anchored Center

      Retail space available in Murfreesboro, near university and hospital.
      1720-1798 W Northfield Blvd, Murfreesboro, TN 37129
      View Details
    • Contact for pricing
      1,790 SF

      Retail Space in High-Traffic Area

      Retail space anchored by Starbucks with high visibility and accessibility.
      1641 Memorial Blvd, Murfreesboro, TN 37129
      View Details
    • $7,251 /Mo
      3,600 SF

      Versatile Showroom and Warehouse Space

      Mixed-use space with showroom, offices, and warehouse in Murfreesboro.
      710 Middle Tennessee Blvd, Murfreesboro, TN 37129
      View Details
    • Contact for pricing
      1,740 SF

      Regional Shopping Center Retail Space

      Retail space available in Murfreesboro's dominant open-air shopping center.
      2615 Medical Center Pkwy, Murfreesboro, TN 37129
      View Details
    • Contact for pricing
      1,600 SF

      Retail Space Near Walmart

      Retail space with excellent visibility near national retailers.
      137 Wendelwood Dr, Murfreesboro, TN 37129
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1006 Memorial Blvd
    Murfreesboro, TN 37129-2405
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    1006 Memorial Blvd, Murfreesboro, TN, 37129
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!