2963 Church StMurfreesboro, TN 37127

Property Details for 2963 Church St

Year built

2024

Property size (Sq ft)

2,595 SF

Property type

Retail properties

Property subtype

Other retail properties

Description

This exceptional investment opportunity presents a brand-new, 2,595 square-foot CAVA restaurant in Murfreesboro, Tennessee. Located at 2963 S Church St, 37127, this property boasts a prime location with excellent visibility and accessibility along a major arterial road, South Church Street (50,028 AADT), just 1.5 miles from I-24 (138,023 AADT). The 15-year absolute NNN lease with CAVA (NYSE: CAVA) commenced November 1, 2024, and includes four 5-year renewal options. The lease features a 10% rent increase every five years, providing a strong hedge against inflation. The property benefits from a corporate guarantee and a highly desirable location near numerous major retailers, including Walmart, Kroger, ALDI, Planet Fitness, Walgreens, and significant retail centers like The Avenue Murfreesboro and The Oaks, attracting millions of annual visitors. The building was constructed in 2024 and offers a highly functional footprint. The property's strong performance is reflected in the 5.00% cap rate and $160,890 annual net operating income (NOI). The asking price is $3,218,000, translating to $1,240.08 per square foot. The low submarket vacancy rate of 1.8% further underscores the desirability of this location. This is a compelling investment opportunity with significant long-term growth potential.

Location Insight

City

Murfreesboro

County

Rutherford

State

Tennessee

Latitude

35.7875

Longitude

-86.3996

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