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    2395 New Salem Hwy Murfreesboro, TN 37128-5254
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    Property profile & analytics

    2395 New Salem Hwy, Murfreesboro, TN 37128-5254

    View on Map
    • Strip malls
    • 19,376 SF
    • 1.60 lot acres
    Off-Market
    Property ID
    US80-1466431
    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
    $3,220,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Three Rivers Family Dentistry - Murfreesboro / Dental Office
    • Shave Barber Lounge / Barber Shop
    • Farmers Insurance - Scott Stuible / Insurance Agency
    • Los Barriles / Restaurant
    • Dr. Darren Songstad / Dental Office

    Property Details for 2395 New Salem Hwy

    Year built
    2008
    Construction
    FRAME
    Lot size
    1.60 lot acres
    Zone code
    C-1
    Property type
    Strip malls
    Property subtype
    Shopping centers
    APN
    114-017.02-000
    APU
    11401702000

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    May 27, 2021 — Lkm Holdings LLC — Deed · related $2.4M · Us Bank NA
    Mar 20, 2017 — Lkm Holdings LLC Mr Hotels LLC Quit Claim Deed · related $11.2M · Capital Bk
    Jul 1, 2016 $4,650,000 Mr Hotels LLC Alliant Partners II Gp Grant Deed $2.2M · Renasant Bk
    Nov 3, 2006 — Partners Alliant II — Trustees Deed · related $3.2M · Capital Bank & Trust Co
    Jan 18, 2005 $605,500 Partners Alliant II South 64 Warranty Deed $2.1M · First Tennessee Bank National

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $4,325,000
      6.5%
      $3,990,000
      7%
      $3,705,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $3,437,000
      Market price range: $1.71M - $5.27M
      AI Estimate
      $2,227,000
      Market price range: $645k - $3.73M

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $3,280,000
      Current use
      AUTO REPAIR, GARAGE
      $4,670,000
      Change: +42% Conversion: Difficult
      MEDICAL BUILDING
      $3,610,000
      Change: +10% Conversion: Difficult
      RETAIL STORES
      $3,515,000
      Change: +7% Conversion: Easy
      OFFICE BUILDING
      $3,130,000
      Change: -5% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Murfreesboro
    County
    Rutherford
    State
    Tennessee
    Longitude
    -86.4444
    Latitude
    35.8131
    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
    $452,920
    $889,400
    $1,342,320
    -
    $1,132,300
    $2,223,500
    $3,355,800

    Comparable in this City

    • Value Estimation
      $2,780,000
      14,750 SF

      3921 Franklin Rd Ste A

      SHOPPING CENTER, STRIP CENTER
      3921 Franklin Rd Ste A, Murfreesboro, TN 37128-4172
      View Details
    • Value Estimation
      $3,305,000
      19,520 SF

      2805 Old Ft Pkwy Ste A

      SHOPPING CENTER, STRIP CENTER
      2805 Old Ft Pkwy Ste A, Murfreesboro, TN 37128-5116
      View Details
    • Value Estimation
      $3,125,000
      18,600 SF

      2476 Old Ft Pkwy, Unit 2486

      SHOPPING CENTER, STRIP CENTER
      2476 Old Ft Pkwy, Murfreesboro, TN 37128-4163
      View Details
    • Value Estimation
      $2,700,000
      11,076 SF

      132 Saint Andrews Dr

      SHOPPING CENTER, STRIP CENTER
      132 Saint Andrews Dr, Murfreesboro, TN 37128-3528
      View Details
    • Value Estimation
      $2,035,000
      11,501 SF

      1636 New Salem Hwy Ste A

      SHOPPING CENTER, STRIP CENTER
      1636 New Salem Hwy Ste A, Murfreesboro, TN 37128-7038
      View Details
    • Value Estimation
      $2,230,000
      12,000 SF

      2706 Old Ft Pkwy Ste A

      SHOPPING CENTER, STRIP CENTER
      2706 Old Ft Pkwy Ste A, Murfreesboro, TN 37128-4253
      View Details

    Similar Nearby for Sale

    • $795,000
      59,677 SF

      Prime Commercial Lot For Sale

      Commercial lot in high-traffic area, ideal for various uses.
      337 Saint Andrews Dr, Murfreesboro, TN 37128
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      286,190 SF

      Commercial Land in Growing Area

      Commercial land suitable for various uses in Murfreesboro, TN.
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      14,820 SF

      Retail Property Near Saint Thomas

      NNN leased retail property with strong traffic and parking.
      2708 New Salem Hwy, Murfreesboro, TN 37128
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    • $15,000,000
      38,274 SF

      Murfreesboro Mixed-Use Investment Opportunity

      Mixed-use property with income potential and future development opportunities.
      601 River Rock Blvd, Murfreesboro, TN 37128
      View Details
    • Contact for pricing

      Commercial Land on Veterans Pkwy

      Commercial land with utilities and dual road access.
      New Salem Hwy & Veterans Pkwy, Murfreesboro, TN 37128
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    Similar Nearby for Lease

    • Contact for pricing
      1,500 SF

      Retail Center on Old Fort

      Retail center with high visibility and abundant parking.
      2705 Old Fort Pkwy, Murfreesboro, TN 37128
      View Details
    • Contact for pricing

      Retail Outparcel Near Kroger

      Located near Kroger and Kohl’s with high traffic counts.
      2535 Old Fort Pkwy, Murfreesboro, TN 37128
      View Details
    • Contact for pricing
      5,600 SF

      Retail Space Near Kroger Available

      Inline retail space and outparcel pad available near Kroger.
      565 Veterans Pkwy, Murfreesboro, TN 37128
      View Details
    • Contact for pricing
      2,400 SF

      Retail Space Near Kroger Available

      Inline retail space and outparcel pad available Summer 2020.
      4420 Veterans Pkwy, Murfreesboro, TN 37128
      View Details
    • Contact for pricing
      9,100 SF

      Retail Space Near Kroger Available

      Inline retail space and outparcel pad available near Kroger.
      5580 Franklin Rd, Murfreesboro, TN 37128
      View Details
    • Contact for pricing
      1,751 SF

      Retail Center on Old Fort

      18,000 SF retail center with high traffic volume.
      2812 Old Fort Pkwy, Murfreesboro, TN 37128
      View Details

    Property Visit Statistics

    • Visits by month
      8.9k
    • Visitors by month
      6.9k
    • Avg Time on site
      39 min
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    Murfreesboro, TN 37128-5254
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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.

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