Entity Owned 
For Sale
1 / 3
Contact for pricing
2708 New Salem Hwy, Murfreesboro, TN 37128
View Listing →
Property summary
AI-generated overview
The property is a retail site located directly across the street from Saint Thomas Medical Partners. It sits on a 2.49-acre lot and provides 74 parking spaces, for a parking ratio of approximately 5.26 spaces per 1,000 square feet. The property is governed by an absolute NNN lease structure with about 9.5 years remaining.
Property profile
Verified
Property type
Drug stores
Use group
DRUG STORE, PHARMACY
Year built
2008
Construction
FRAME
Total area
14,736 SF
Lot
2.49 ac (108,464 SF)
APN
114-002.11-000
UPID
US80-0513452
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Pharmacy
-
Postal Service Courier Service
-
Cosmetic Store
-
(Bike/Boat/Book/etc) Store
-
Bank Credit Union
Location
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$5.33M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$3.75M
Blend (final)
Blend
$5.30M
Owner & transaction history
since 2021
Last sale
$5.4M
7 recorded transactions
Zoning & alternative use
Top alternative use upside
Restaurant
$8.4M
+215.0%
Commercial (general)
$4.5M
+67.0%
Auto repair, garage
$3.6M
+32.9%
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
Unlock the complete Valuation workflow
Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
Full NOI build-up · 6 steps
3 alternative uses screened
Sensitivity value band
Source audit · 6 inputs
PDF export
Professional Plan · 30 reports
from $99/month
from $99/month
Summary
1
Valuation conclusion
Included free
Estimated market value
$5.30M
Value range
$4.77M – $5.83M
±10% around blend
Estimated value / SF
$360 / SF
Confidence
Property data
88
Market benchmarks
67
Comparable evidence
60
Income certainty
100
$4.77M
blend $5.30M
$5.83M
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
14,736 SF
Lot area
2.49 ac
Year built
2008
Stories
1
APN
114-002.11-000
Assessed value
$1,407,280
Annual tax
$39,809
3
Income approach: direct capitalization
Partial preview
Estimated Stabilized NOI, derived from market rent, vacancy and expense benchmarks. Actual property income not reported.
Estimated market rent / SF
Potential gross income
Vacancy allowance
Effective gross income
Benchmark operating expenses
Stabilized NOI
Property tax
$39,809
Selected cap rate
4
Sales comparison
Partial preview
Sales approach indication
$3.75M
Range $1.47M – $3.80M
Evidence
6 found
Recent peer sales in this city
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$5.30M
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
Submarket 71 sales
$181
+98%
County 110 sales
$182
+98%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $360/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Alternative use screening
Partial preview
Top alternative use
Restaurant
Gross theoretical uplift
+215%
vs current-use indication
Commercial (general)
Auto Repair, Garage
Values shown before conversion costs, entitlement costs, capital expenditures and stabilization risk.
8
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
Not available
Operating expenses
Modeled
Market rent
Market benchmark
Not analyzed due to unavailable source data: actual rent roll, tenant leases, physical condition and capital
requirements are outside a desktop analysis.
Cost Approach excluded: income and sales evidence cover the value conclusion.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
NOI build-up · 9 steps
Market rates by use type
PDF export
Professional Plan · 30 reports
from $99/month
from $99/month
Overview
Selected market yield
3.20%
Selected cap rate for this drug stores
Derived from the Murfreesboro market rent, vacancy and expense benchmarks for this use type.
Lower yield / higher price
Higher yield / lower price
5.0%
This property · 3.20%
9.0%
NOI (est.)
$198k *
Last sale · Jan 2021
$5.41M
* derived from a real price signal at a 7% cap
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$6.20M
Move the market yield to see immediate price impact.
Value / SF
$421
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
2.70%3.20%3.70%
$179k
$6.62M
$5.58M
$4.83M
$198k
$7.35M
$6.20M
$5.36M
$218k
$8.09M
$6.82M
$5.90M
NOI sensitivity ±10% across the selected-rate band (±0.5 pp) — derivation of the NOI above.
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$39,809
Tax year 2023
Assessed value
$1,407,280
Assessed 2024
Previous assessed
$1,407,280
+0.0% YoY
Effective rate
2.83%
On assessed value
Assessed land
$453,760
Assessed improvement
$953,520
Land market value
$1,134,400
Improvement market value
$2,383,800
Total market value
$3,518,200
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Drug stores
Use group
DRUG STORE, PHARMACY
Status
For Sale
Year built
2008
Construction
FRAME
Heating
ZONE
Cooling
YES
Stories
1
Units
1
Rooms
2
Total area
14,736 SF
Lot
2.49 ac (108,464 SF)
APN
114-002.11-000
UPID
US80-0513452
Jurisdiction
RUTHERFORD
Zoning & alternative use
Zoning · permitted uses
No zoning code is on file for this parcel. Zoning coverage grows with every catalog release.
Alternative use value scenarios
Repositioning upside vs current use
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Building & site characteristics
From public records
Year built
2008
Construction
FRAME
Heating
ZONE
Cooling
Yes
Stories
1
Units
1
Rooms
2
Lot
2.49 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
No zoning code is on file for this parcel. Zoning coverage grows with every catalog release — check back, or open Location Intelligence for use analysis of this corner.
Ownership Intelligence
Find the owner behind the property.
Unlock the evidence behind ownership: portfolio, transactions, debt and signals that help you decide who to contact next.
What opens after registration
Ownership report
Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
Deal signalsSell-side activity worth following
Debt & historyRecorded loans and transaction history
Private report access
See the ownership record for this address.
Registration is required before any owner information is shown.
One complete report on every paid plan · 30 · 300 reports per month.
Owner of record and activity signals are derived from public records and modeled classifications.
They do not confirm beneficial ownership or intent to transact.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
Get access to Data & Analytics
Choose membership plan that suits your needs
Unlock Full Report
$9
one-time
Single Property Report
Full report includes
- Full Property Data
- Historical Records
- Value Estimation
- NOI Potential
- Cap Rate Calculation
- Ownership
- Location Insight
- Alternative use
- Local Zoning Insight
MOST POPULAR
Professional Plan
$99
/mo
30 property reports a month.
Cancel anytime.
Cancel anytime.
Your membership includes
- 30 reports a month
- Location Analytics
- Market Trends
- Full Property Data
- Historical Records
- Value Estimation
- NOI Potential
- Cap Rate Calculation
- Ownership
- Location Insight
- Alternative use
- Local Zoning Insight
Enterprise Plan
$299
/mo
300 property reports a month.
Cancel anytime.
Cancel anytime.
Your membership includes
- 300 reports a month
- Location Analytics
- Market Trends
- Full Property Data
- Historical Records
- Value Estimation
- NOI Potential
- Cap Rate Calculation
- Ownership
- Location Insight
- Alternative use
- Local Zoning Insight
Unlock Light Report
Free
Confirm your email
and get 1 Light Report
and get 1 Light Report
Light report includes
- Property Information
- Historical Records
- Value Estimation
- NOI Potential
- Cap Rate Potential
- Location Insight
- Alternative use
- Local Zoning Insight
Confirm your e-mail to get the report
