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    2640 General Mls Way Murfreesboro, TN 37127-3002
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    2640 General Mls Way Murfreesboro, TN 37127-3002

    View on Map
    • Warehouses
    • 5,000 SF
    • 4.01 lot acres
    Off-Market
    Property ID
    US80-0781317
    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
    $560,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Warehouses

    Property Details for 2640 General Mls Way

    Year built
    1987
    Lot size
    4.01 lot acres
    Property size
    5,000 SF
    Zone code
    HI
    Property type
    Warehouses
    APN
    113-020.06-000
    APU
    11302006000

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $780,000
      6.5%
      $720,000
      7%
      $670,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $422,000
      Market price range: $122k - $422k

    • Alternative Use

      Use
      Estimation
      WAREHOUSE, STORAGE
      $545,000
      Current use
      MEDICAL BUILDING
      $930,000
      Change: +71% Conversion: Difficult
      RETAIL STORES
      $905,000
      Change: +66% Conversion: Moderate
      NEIGHBORHOOD: SHOPPING CENTER
      $845,000
      Change: +55% Conversion: Moderate
      OFFICE BUILDING
      $810,000
      Change: +48% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Murfreesboro
    County
    Rutherford
    State
    Tennessee
    Longitude
    -86.3931
    Latitude
    35.8
    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
    $290,080
    $162,200
    $452,280
    -
    $725,200
    $405,501
    $1,130,701

    Comparable in this City

    • Value Estimation
      $580,000
      4,800 SF

      2764 Church St, Unit 2762

      WAREHOUSE, STORAGE • 4,800 SF
      2764 Church St, Murfreesboro, TN 37127-8350
      View Details
    • Value Estimation
      $25,285,000
      365,556 SF

      3105 Elam Farms Pkwy, Unit 3183

      WAREHOUSE, STORAGE • 365,556 SF
      3105 Elam Farms Pkwy, Murfreesboro, TN 37127-7784
      View Details
    • Value Estimation by Request
      5,000 SF

      4333 Veals Rd

      WAREHOUSE, STORAGE • 5,000 SF
      4333 Veals Rd, Murfreesboro, TN 37127-7601
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    • Value Estimation by Request
      25,500 SF

      1710 Butler Dr

      Distribution properties • 25,500 SF
      1710 Butler Dr, Murfreesboro, TN 37127
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    • Value Estimation by Request
      3,732 SF

      5502 Elam Rd

      WAREHOUSE, STORAGE • 3,732 SF
      5502 Elam Rd, Murfreesboro, TN 37127-6517
      View Details
    • Value Estimation by Request
      777,145 SF

      2020 Joe B Jackson Pkwy

      WAREHOUSE, STORAGE • 777,145 SF
      2020 Joe B Jackson Pkwy, Murfreesboro, TN 37127-7792
      View Details

    Similar Nearby for Sale

    • $2,200,000
      17,000 SF

      Commercial Land with Permits

      3-acre commercial land with permits for dealership/warehouse.
      4372 Shelbyville Hwy, Murfreesboro, TN 37127
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    • $2,250,000

      6.56 Acre Commercial Tract

      Commercial land with high-traffic exposure, ideal for various business uses.
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    • $3,045,000

      7 Acres Zoned Heavy Industrial

      7 acres of heavy industrial land backing up to I-24.
      1836 Joe B Jackson Pkwy, Murfreesboro, TN 37127
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      5,703 SF

      Highway Retail Property in Murfreesboro

      New NNN lease property near Interstate 24 entrance.
      1509 Joe B Jackson Pkwy, Murfreesboro, TN 37127
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      High-Traffic Commercial Land Opportunity

      Commercial land in high-traffic area with development potential.
      3668 Shelbyville Hwy, Murfreesboro, TN 37127
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      126,324 SF

      Commercial Lot on Highway 231

      Commercial lot with high traffic count, suitable for retail/professional.
      3638 Shelbyville Hwy, Murfreesboro, TN 37127
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    Similar Nearby for Lease

    • Contact for pricing
      378,560 SF

      Murfreesboro Warehouse Space Available

      378,560 SF warehouse with ample parking in Murfreesboro.
      1703 Joe B Jackson Pkwy, Murfreesboro, TN 37127
      View Details
    • Contact for pricing
      369,972 SF

      Murfreesboro Warehouse Space Available

      Large industrial warehouse space available for lease in Murfreesboro.
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      View Details
    • Contact for pricing
      125,175 SF

      Murfreesboro Warehouse Space Available

      200,755 square foot warehouse space for lease in Murfreesboro.
      606 Butler Dr, Murfreesboro, TN 37127
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    • Contact for pricing
      7,500 SF

      Murfreesboro Warehouse Space Available

      9,013 SF warehouse space for lease in Murfreesboro.
      2347-2349 Handley St, Murfreesboro, TN 37127
      View Details
    • Contact for pricing
      13,000 SF

      Prime Land Near Interstate 24

      High-visibility land for lease near future Bucee's and coffee chain.
      3302 Elam Rd, Murfreesboro, TN 37127
      View Details
    • Contact for pricing
      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
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    Murfreesboro, TN 37127-3002
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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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