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    Property profile & analytics

    1020 Highland Ave Murfreesboro, TN 37130-2494

    • Medical Office Space
    • 14,285 SF
    • 1.25 lot acres
    OFF-MARKET
    Value Estimations
    $2,195,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US80-0393766
    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.

    Current Use by Public Records

    • Medico Cesar / Hospital
    • Tanner Austin Evans MD / Pediatrician / Physician
    • Ascension Saint Thomas Medical Partners Saint Louise Family Medicine Center / Physician
    • Christopher D. Dunlap MD / Pediatrician / Physician
    • Rachel O'beirne / Pediatrician / Physician

    Property Details for 1020 Highland Ave

    Year built
    2001
    Construction
    FRAME
    Lot size
    1.25 lot acres
    Property size
    14,285 SF
    Zone code
    CM-R
    Property type
    Medical Office Space
    Property subtype
    Medical centers
    APN
    091D-F-038.26-000
    APU
    091DF03826000

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $2,659,000
      Market price range: $1.47M - $4.40M
      AI Estimate
      $1,732,000
      Market price range: $870k - $2.31M

    • Alternative Use

      Use
      Estimation
      MEDICAL BUILDING
      $2,660,000
      Current use
      AUTO REPAIR, GARAGE
      $3,445,000
      Change: +29% Conversion: Difficult
      NEIGHBORHOOD: SHOPPING CENTER
      $2,415,000
      Change: -9% Conversion: Difficult
      OFFICE BUILDING
      $2,155,000
      Change: -19% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Murfreesboro
    County
    Rutherford
    State
    Tennessee
    Longitude
    -86.3815
    Latitude
    35.8568
    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
    $0.00
    $0.00
    $0.00
    $0.00
    -
    $515,400
    $1,754,700
    $2,270,100

    Comparable in this City

    • Value Estimation by Request
      961 SF

      503 Highland Ter E E Ste

      MEDICAL BUILDING • 961 SF
      503 Highland Ter E E Ste, Murfreesboro, TN 37130-2477
      View Details
    • Value Estimation
      $525,000
      2,773 SF

      421 Bell St

      MEDICAL BUILDING • 2,773 SF
      421 Bell St, Murfreesboro, TN 37130-2410
      View Details
    • Value Estimation
      $550,000
      2,925 SF

      905 Church St

      MEDICAL BUILDING • 2,925 SF
      905 Church St, Murfreesboro, TN 37130-4915
      View Details
    • Value Estimation
      $650,000
      3,765 SF

      702 Clark Blvd

      MEDICAL BUILDING • 3,765 SF
      702 Clark Blvd, Murfreesboro, TN 37130-2356
      View Details
    • Value Estimation by Request
      1,911 SF

      1272 Dow St Ste B

      MEDICAL BUILDING • 1,911 SF
      1272 Dow St Ste B, Murfreesboro, TN 37130-2467
      View Details
    • Value Estimation
      $530,000
      4,067 SF

      1272 Dow St Ste A

      MEDICAL BUILDING • 4,067 SF
      1272 Dow St Ste A, Murfreesboro, TN 37130-2466
      View Details

    Similar Nearby for Sale

    • $6,500,000
      12,814 SF

      Medical Office Building, Murfreesboro TN

      Prime Medical Office, High NOI, Great Location
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    • $350,000
      1,100 SF

      Versatile Medical/Residential Zoned Property

      Property with CM-R zoning, suitable for medical or residential use.
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    • $1,075,000
      3,709 SF

      Medical Office Near MTSU

      Well-maintained medical office near MTSU and downtown Murfreesboro.
      1045 N Highland Ave, Murfreesboro, TN 37130
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    • Contact for pricing
      10,000 SF

      Murfreesboro Office Building For Sale

      10,000 SF office building in Murfreesboro, Tennessee.
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      5,784 SF

      Office Building in Active Corridor

      Office building in a rapidly growing Middle Tennessee county.
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      3,450 SF

      Murfreesboro Office Building For Sale

      3,450 SF office building in the heart of Murfreesboro.
      725 S Church St, Murfreesboro, TN 37130
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    Similar Nearby for Lease

    • $21 SF/Yr
      25,927 SF

      Murfreesboro Office Space For Lease

      Prime Downtown Office, Retail Opportunity
      120 Main St, Murfreesboro, TN 37130
      View Details
    • Contact for pricing
      60,193 SF

      Downtown Murfreesboro Office Space

      Historic building, flexible suites available
      201 Main St, Murfreesboro, TN 37130
      View Details
    • $550 /Mo

      Office Space on Murfreesboro Square

      Second floor office with hardwood floors and shared amenities.
      105 N Maple St, Murfreesboro, TN 37130
      View Details
    • Contact for pricing
      1,602 SF

      Office Space on Rutherford Boulevard

      Office space for rent with high visibility and access.
      2950 S Rutherford Blvd, Murfreesboro, TN 37130
      View Details
    • Contact for pricing
      234,588 SF

      Murfreesboro Warehouse and Industrial Space

      89 acres with HI & GI zoning and 36' clear height.
      315 S Rutherford Blvd, Murfreesboro, TN 37130
      View Details
    • Contact for pricing
      2,940 SF

      Retail Space on Main Street

      Retail space available for lease in Murfreesboro, Tennessee.
      214 W Main St, Murfreesboro, TN 37130
      View Details
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    Murfreesboro, TN 37130-2494
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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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