1006 Memorial BlvdMurfreesboro, TN 37129

Property Details for 1006 Memorial Blvd

Year built

1986

Construction

FRAME

Lot size

1.99 AC

Property size (Sq ft)

6,393 SF

Property type

Retail properties

Property subtype

Turn key restaurants

APN

091F-E-022.00-000

APU

091FE02200000

Description

This exceptional 6,650-square-foot, Class A restaurant property, formerly an O'Charley's, presents a turnkey opportunity for owner-users seeking a value-add investment. Located at 1006 Memorial Blvd, Murfreesboro, TN 37129, this single-story building sits on a substantial 1.99-acre lot boasting 222 feet of frontage on Memorial Boulevard, a major thoroughfare with a daily traffic count of 34,742 vehicles. Built in 1986 and renovated in 2021, the property includes 148 parking spaces and is zoned for commercial use. The sale includes all fixtures, furniture, and equipment (FF&E). The property is currently occupied, offering immediate income potential. This prime location offers excellent visibility and accessibility, situated near I-24 in Rutherford County. The asking price is $2,750,000. The property's spacious layout and ample parking make it ideal for a variety of restaurant concepts. The large lot size also presents potential for future expansion or development. The property is available for immediate occupancy, starting August 14, 2024. This is a rare opportunity to acquire a well-maintained, established restaurant property in a high-traffic area.

• CAP approach

  CAP return

  Valuation

  6%

  $1,623,474

  6.5%

  $1,498,591

  7%

  $1,391,549

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,386,780

  Geo Method

  $1,386,780

• Alternative Use

  Use

  Valuation

  Residential

  $1,264,118

  Hospitality

  $1,157,925

  Educational

  $963,380

  Medical

  $996,512

  Retail

  $1,498,591

Location Insight

City

Murfreesboro

County

Rutherford

State

Tennessee

Latitude

35.8578

Longitude

-86.392

CBSA code

34980

CBSA name

NASHVILLE-DAVIDSON--MURFREESBORO--FRANKLIN, TN METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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