Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    405 Castle St Murfreesboro, TN 37130

    • Warehouses
    • 10,528 SF
    • 0.63 lot acres
    OFF-MARKET
    Last Sale
    Dec 26, 2023
    $25,000
    Value Estimations
    $1,030,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US80-1666623
    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

    • Warehouses

    Property Details for 405 Castle St

    Year built
    2007
    Construction
    FRAME
    Lot size
    0.63 lot acres
    Property size
    10,528 SF
    Property type
    Warehouses
    APN
    102D-B-013.00-000
    APU
    102DB01300000

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $641,000
      Market price range: $282k - $641k

    • Alternative Use

      Use
      Estimation
      WAREHOUSE, STORAGE
      $1,150,000
      Current use
      OFFICE BUILDING
      $1,590,000
      Change: +38% Conversion: Difficult
      RETAIL STORES
      $1,405,000
      Change: +22% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Murfreesboro
    County
    Rutherford
    State
    Tennessee
    Longitude
    -86.3868
    Latitude
    35.8416
    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
    $13,963
    $59,920
    $433,680
    $493,600
    -
    $149,800
    $1,084,200
    $1,234,000

    Comparable in this City

    • Value Estimation by Request
      1,260 SF

      1637 Middle 10th Blvd

      WAREHOUSE, STORAGE • 1,260 SF
      1637 Middle 10th Blvd, Murfreesboro, TN 37130-5114
      View Details
    • Value Estimation
      $1,150,000
      12,000 SF

      2303 Church St

      WAREHOUSE, STORAGE • 12,000 SF
      2303 Church St, Murfreesboro, TN 37130-5548
      View Details
    • Value Estimation by Request
      9,690 SF

      125 Frnt St

      WAREHOUSE, STORAGE • 9,690 SF
      125 Frnt St, Murfreesboro, TN 37130-3556
      View Details
    • Value Estimation
      $1,260,000
      12,184 SF

      241 Southpointe Ct

      WAREHOUSE, STORAGE • 12,184 SF
      241 Southpointe Ct, Murfreesboro, TN 37130-3711
      View Details
    • Value Estimation by Request
      2,835 SF

      315 Burton St

      WAREHOUSE, STORAGE • 2,835 SF
      315 Burton St, Murfreesboro, TN 37130-3617
      View Details
    • Value Estimation
      $845,000
      21,563 SF

      313 Church St Ste A

      WAREHOUSE, STORAGE • 21,563 SF
      313 Church St Ste A, Murfreesboro, TN 37130-3785
      View Details

    Similar Nearby for Sale

    • $4,350,000

      Mixed-Use Investment Opportunity

      Multiple buildings with tenants and leases in Murfreesboro, TN.
      1635 Middle Tennessee Blvd, Murfreesboro, TN 37130
      View Details
    • $1,400,000
      Pending

      Murfreesboro Commercial Building in CBD

      7,200 sqft commercial building in Murfreesboro's historic courthouse square.
      118 Walnut St N, Murfreesboro, TN 37130
      View Details
    • $120,000

      Murfreesboro Land with Development Potential

      Almost 3 acres in Murfreesboro, TN, ready for development.
      4850 Cranor Rd, Murfreesboro, TN 37130
      View Details
    • $1,840,410
      131,115 SF

      Commercial Land Near Murfreesboro Airport

      Commercial land for sale near Murfreesboro Airport runway.
      Sword Ct, Murfreesboro, TN 37130
      View Details
    • Contact for pricing
      5,784 SF

      Office Building in Active Corridor

      Office building in a rapidly growing Middle Tennessee county.
      527 N Maple St, Murfreesboro, TN 37130
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      234,588 SF

      Murfreesboro Warehouse and Industrial Space

      89 acres with HI & GI zoning and 36' clear height.
      315 S Rutherford Blvd, Murfreesboro, TN 37130
      View Details
    • Contact for pricing

      Murfreesboro Warehouse with Office Space

      30,000 SF commercial warehouse with offices in Murfreesboro, TN.
      831 Park Ave, Murfreesboro, TN 37130
      View Details
    • Contact for pricing

      15,000 SF Flex Space Available

      Flex space with six units, suitable for various businesses.
      1925 Business Campus Dr, Murfreesboro, TN 37130
      View Details
    • Contact for pricing
      103,777 SF

      Industrial Property on 89 Acres

      Industrial property featuring 103,777 square feet and 36' clear height.
      539 S Rutherford Blvd, Murfreesboro, TN 37130
      View Details
    • Contact for pricing
      216,405 SF

      Industrial Warehouse Space Available

      216,405 SF warehouse in Southeast Murfreesboro for lease.
      503 S Rutherford Blvd, Murfreesboro, TN 37130
      View Details
    • Contact for pricing
      149,150 SF

      Murfreesboro Warehouse and Industrial Space

      89 acres with HI & GI zoning and 36' clear height.
      409 S Rutherford Blvd, Murfreesboro, TN 37130
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    405 Castle St
    Murfreesboro, TN 37130
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!