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    3668 Shelbyville Hwy Murfreesboro, TN 37127
    Property profile & analytics

    3668 Shelbyville Hwy Murfreesboro, TN 37127

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    • Commercial land
    For Sale
    $2,200,000
    View Listing →
    High-Traffic Commercial Land Opportunity For Sale
    $2,200,000
    1,894 SF

    High-Traffic Commercial Land Opportunity

    Commercial land in high-traffic area with development potential.

    3668 Shelbyville Hwy, Murfreesboro, TN 37127
    View Listing
    Property ID
    US80-0780889
    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
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Commercial land

    Property Details for 3668 Shelbyville Hwy

    Property type
    Commercial land
    Property subtype
    Retail properties & Spaces

    Description

    An outstanding property with enormous commercial potential, situated in a high-traffic area with 31,924 daily views. This location offers maximum exposure in a rapidly growing area, positioned next to MMC and directly across from the new Pep Boys. Currently, the property includes a 1995-built,1,894 sq. ft. House, ideal for a wide range of commercial opportunities. With water and sewer on-site, this lot is ready for your business vision. Surrounded by active development, it’s the perfect spot to capitalize on a booming location and elevate your commercial presence. Seize this unique chance to establish your business in a prime, high-visibility area!

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Murfreesboro
    County
    Rutherford
    State
    Tennessee
    Longitude
    -86.40424
    Latitude
    35.771835

    Comparable in this City

    • Contact for pricing
      126,324 SF

      Commercial Lot on Highway 231

      Commercial lot with high traffic count, suitable for retail/professional.
      3638 Shelbyville Hwy, Murfreesboro, TN 37127
      View Details
    • $2,200,000

      High-Traffic Commercial Land Opportunity

      Prime commercial land in high-traffic area, ready for development.
      3668 Shelbyville Hwy, Murfreesboro, TN 37127
      View Details
    • $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
      View Details
    • $687,000
      Pending

      Commercial Lot Near Highway 231

      Located off HWY 231 S, ideal for retail/professional use.
      3698 Shelbyville Hwy, Murfreesboro, TN 37127
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    • $4,200,000
      Pending

      Prime Land on Shelbyville Highway

      13+ acres of land with prime road frontage.
      4057 Shelbyville Hwy, Murfreesboro, TN 37127
      View Details
    • New
      $750,000
      5.02 Acres

      Murfreesboro Commercial Land Opportunity

      5.02+/- acres zoned Commercial Highway in Murfreesboro, Tennessee.
      John Bragg Hwy./Lyons Farm Pkwy, Murfreesboro, TN 37127
      View Details

    Similar Nearby for Sale

    • $2,200,000

      High-Traffic Commercial Land Opportunity

      Prime commercial land in high-traffic area, ready for development.
      3668 Shelbyville Hwy, Murfreesboro, TN 37127
      View Details
    • Contact for pricing
      126,324 SF

      Commercial Lot on Highway 231

      Commercial lot with high traffic count, suitable for retail/professional.
      3638 Shelbyville Hwy, Murfreesboro, TN 37127
      View Details
    • $687,000
      Pending

      Commercial Lot Near Highway 231

      Located off HWY 231 S, ideal for retail/professional use.
      3698 Shelbyville Hwy, Murfreesboro, TN 37127
      View Details
    • $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
      View Details
    • $4,200,000
      13.53 Acres

      Prime Land on Shelbyville Highway

      13+ acres with road frontage in growing Murfreesboro area.
      4057 Shelbyville Hwy, Murfreesboro, TN 37127
      View Details
    • $4,200,000
      Pending

      Prime Land on Shelbyville Highway

      13+ acres of land with prime road frontage.
      4057 Shelbyville Hwy, Murfreesboro, TN 37127
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Future Paved Parking and Storage

      11.20 acres for trailer storage, completion Q2 2024.
      2917 Elam Rd, 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
    • 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
      View Details
    • Contact for pricing

      Retail Spaces Available For Rent

      Retail spaces available, ranging from 1,065 to 1,935 SqFt.
      1536 Joe B Jackson Pkwy, Murfreesboro, TN 37127
      View Details
    • $58 SF/Yr
      1,241 SF

      Retail Space on S Church

      Retail space with frontage on S Church Street available for rent.
      2961-2977 S Church St, Murfreesboro, TN 37127
      View Details
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    Murfreesboro, TN 37127
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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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    3668 Shelbyville Hwy, Murfreesboro, TN, 37127
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