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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2403 Main St Murfreesboro, TN 37127-5849

    • Retail space
    • 1,137 SF
    • 0.16 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US80-1684118
    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

    • Bright Ideas Custom Tattooing / Tattoo Shop
    • HowdyPardy / Legal Services

    Property Details for 2403 Main St

    Year built
    1920
    Lot size
    0.16 lot acres
    Property size
    1,137 SF
    Zone code
    CL
    Property type
    Retail space
    APN
    103C-A-019.00-001
    APU
    103CA01900001

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Murfreesboro
    County
    Rutherford
    State
    Tennessee
    Longitude
    -86.3513
    Latitude
    35.8398
    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
    $1,750
    $29,640
    $32,240
    $61,880
    -
    $74,100
    $80,600
    $154,700

    Comparable in this City

    • Value Estimation by Request
      2,320 SF

      2602 Main St

      RETAIL STORES (PERSONAL SERVICES) • 2,320 SF
      2602 Main St, Murfreesboro, TN 37127-4111
      View Details
    • Value Estimation
      $1,270,000
      7,307 SF

      2808 Church St, Unit 2814

      RETAIL STORES (PERSONAL SERVICES) • 7,307 SF
      2808 Church St, Murfreesboro, TN 37127-6374
      View Details
    • Value Estimation
      $975,000
      9,038 SF

      2984 Church St

      RETAIL STORES (PERSONAL SERVICES) • 9,038 SF
      2984 Church St, Murfreesboro, TN 37127-8351
      View Details
    • Value Estimation by Request
      1,718 SF

      462 Rock Hvn Rd

      RETAIL STORES (PERSONAL SERVICES) • 1,718 SF
      462 Rock Hvn Rd, Murfreesboro, TN 37127-8126
      View Details
    • Value Estimation by Request
      4,140 SF

      4409 Woodbury Pike

      RETAIL STORES (PERSONAL SERVICES) • 4,140 SF
      4409 Woodbury Pike, Murfreesboro, TN 37127-4754
      View Details
    • Value Estimation
      $500,000
      3,000 SF

      3183 Church St, Unit A-B

      RETAIL STORES (PERSONAL SERVICES) • 3,000 SF
      3183 Church St, Murfreesboro, TN 37127-7152
      View Details

    Similar Nearby for Sale

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      5,703 SF

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      Murfreesboro Commercial Land Opportunity

      High-traffic location, huge potential.
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      Murfreesboro Commercial Land - 12.3 Acres

      Prime Murfreesboro land, ideal for commercial/industrial development.
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    • $4,200,000
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      Prime Land on Shelbyville Highway

      13+ acres with road frontage in growing Murfreesboro area.
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    • $299,900
      1,476 SF

      Modern Townhouse with Flexible Space

      Well-maintained 2-bedroom townhouse with bonus room and modern amenities.
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    Similar Nearby for Lease

    • $6,666 /Mo
      2,400 SF

      Retail Pad Ground Lease Available

      2,400 SF retail pad site available for ground lease.
      2906 S Church St, Murfreesboro, TN 37127
      View Details
    • Contact for pricing
      70,000 SF

      Retail and Restaurant Space Available

      Retail and restaurant spaces available in Murfreesboro, Tennessee.
      101 Joe B Jackson Pkwy, Murfreesboro, TN 37127
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    • $58 SF/Yr
      1,241 SF

      Retail Space on S Church

      Retail space with frontage on S Church Street available for rent.
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    • $42 SF/Yr
      9,000 SF

      Jackson Village Retail Spaces

      Murfreesboro Restaurant & Retail Opportunity
      1536 Joe B Jackson Pkwy, Murfreesboro, TN 37127
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    • Contact for pricing
      36,155 SF

      Murfreesboro Commercial Land - 0.83 Acres

      High-traffic, commercially zoned land near I-24.
      3155 Church St, Murfreesboro, TN 37127
      View Details
    • $6 SF/Yr
      200,755 SF

      Murfreesboro Warehouse Space Available

      200,755 square foot warehouse space for lease in Murfreesboro.
      606 Butler St, Murfreesboro, TN 37127
      View Details
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    2403 Main St
    Murfreesboro, TN 37127-5849
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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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