For Sale
$10,705,986

1706 Old Fort Pkwy Murfreesboro, TN 37129

High-growth market, strong tenant, long lease.

Overview

Added:
Dec 11, 2024
Days on market:
134
This exceptional investment opportunity presents a 48,926 square foot, single-tenant, net-leased AMC Theatres property located in the thriving Murfreesboro, Tennessee market. The property, situated on a 2.84-acre lot at 1706 Old Fort Pkwy, enjoys a prominent location within the Stones River Town Centre, a 607,000 square foot regional shopping center. The AMC Theatres location boasts nine state-of-the-art screens, offering seating for nearly 1,000 guests in both standard and signature recliner seating. With a remaining lease term of 8.6 years (expiring June 30, 2033), and base rent increases every five years, this investment offers predictable, inflation-resistant income. The property benefits from a 7.35% cap rate and a strong NOI of $786,890, with an asking price of $10,705,986 ($218.82/sq ft). The site's high visibility on Old Fort Parkway (over 39,000 vehicles per day) and proximity to Interstate 24 (126,500 VPD) ensure exceptional traffic exposure. Surrounding national retailers include Walmart, Target, Home Depot, Lowe's, and many others, creating a robust retail synergy. Murfreesboro's rapid population growth, projected to increase by approximately 67,000 residents in the next 10 years, further solidifies this investment's long-term potential within the rapidly expanding Nashville MSA. This is a rare opportunity to acquire a high-performing, net-leased asset with minimal landlord responsibilities and significant upside potential.

Highlights

  • Long-term net lease with AMC Theatres (NYSE: AMC); 9+ years remaining, with options.
  • Located in a high-growth Nashville suburb, one of the fastest-growing areas in the US.
  • Prominent pad site within Stones River Town Centre (671,000 SF), near Walmart, Home Depot, and Target.
  • Murfreesboro ranked among the fastest-growing US cities, with over 48% population growth since 2010.
  • Investment-grade national tenant, AMC Theatres, with 900+ US locations and strong sales recovery.
  • Large 2.84-acre parcel offers minimal landlord responsibilities and significant tax depreciation benefits; high visibility on Hwy 96.

Property Details for 1706 Old Fort Pkwy

Property type
Lifestyle centers, Power centers
Square Feet
48,926 SF
Lot Size (sq. ft)
123,710 SF

Location Insight

City
Murfreesboro
County
Rutherford
State
Tennessee
Latitude
35.8476441
Longitude
-86.4174867

FAQs

What type of property is this?
Lifestyle center - High-growth market, strong tenant, long lease.
Where is the lifestyle center located?
The property is located at 1706 Old Fort Pkwy Murfreesboro, TN.
What is the asking price?
The asking price for this property is $10,705,986.
What are key features of this property?
This property features: Long-term net lease with AMC Theatres (NYSE: AMC); 9+ years remaining, with options.; Located in a high-growth Nashville suburb, one of the fastest-growing areas in the US.; Prominent pad site within Stones River Town Centre (671,000 SF), near Walmart, Home Depot, and Target.
How can I contact the broker?
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1706 Old Fort Pkwy
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