2708 New Salem Hwy Murfreesboro, TN 37128
Property profile & analytics
2708 New Salem Hwy Murfreesboro, TN 37128
- Drug stores
- 14,736 SF
- 2.49 lot acres
Property ID
US80-0513452
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.
Location Intelligence
Current Use by Public Records
- Walgreens Pharmacy / Pharmacy
- FedEx OnSite / Postal Service / Courier Service
- Walgreens / Cosmetic Store
- Walgreens Photo / (Bike/Boat/Book/etc) Store
- Western Union / Bank / Credit Union
Property Details for 2708 New Salem Hwy
- Year built
- 2008
- Construction
- FRAME
- Lot size
- 2.49 lot acres
- Property size
- 14,736 SF
- Property type
- Drug stores
- APN
- 114-002.11-000
- APU
- 11400211000
Description
This exceptional investment opportunity presents a fee-simple ownership interest in a 14,820-square-foot Walgreens pharmacy located at 2708 New Salem Hwy, Murfreesboro, TN 37128. The property boasts a prime location in a rapidly growing area of Rutherford County, situated on a 2.49-acre lot with 74 parking spaces. The property features a Class A, single-tenant, absolute NNN lease with a credit-rated tenant, Walgreens, ensuring minimal landlord responsibilities. The lease commenced August 1, 2008, and extends to July 31, 2083, offering a substantial remaining lease term of 58.7 years. The current asking price is $5,410,000, representing a price per square foot of $365.05 and a cap rate of 5.86%. The property generates a net operating income (NOI) of $317,000. Built in 2008, this one-story building benefits from a signalized intersection with high traffic volume (15,693 vehicles per day), serving two new residential communities. The property's strategic location is further enhanced by its proximity to a Publix-anchored shopping center, McDonald's, Taco Bell, and a new medical office building anchored by St. Thomas Health. The lease includes a right to terminate after July 2033. This is a compelling investment opportunity in a thriving market with significant projected population growth (over 15% in the next 5 years) and no state income tax.
Value Estimations
based on Realmo’s proprietary methodology
-
AI approach
- Method
- Estimation
- Statistic approach
- $5,300,000
- ML approach
- $5,325,000
-
Comparable approach
- Method
- Estimation
- Statistic Estimate
- $3,749,000
Market price range: $1.47M - $3.80M -
Alternative Use
- Use
- Estimation
- RESTAURANT
- $8,415,000
- COMMERCIAL (GENERAL)
- $4,460,000
- AUTO REPAIR, GARAGE
- $3,550,000
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- City
- Murfreesboro
- County
- Rutherford
- State
- Tennessee
- Longitude
- -86.4601
- Latitude
- 35.811
- 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
$39,809
$453,760
$953,520
$1,407,280
-
$1,134,400
$2,383,800
$3,518,200
