1706 Old Fort PkwyMurfreesboro, TN 37129

Property Details for 1706 Old Fort Pkwy

Year built

1989

Lot size

33.01 AC

Property size (Sq ft)

408,067 SF

Zone code

CH

Property type

Super regional malls

APN

091I-A-018.00-000

APU

091IA01800000

Description

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.

• CAP approach

  CAP return

  Valuation

  6%

  $103,626,792

  6.5%

  $95,655,504

  7%

  $88,822,968

• Comparable approach

  Method

  Valuation

  Relative Method

  $88,518,544

  Geo Method

  $88,518,544

• Alternative Use

  Use

  Valuation

  Residential

  $80,689,000

  Hospitality

  $73,910,688

  Educational

  $61,492,824

  Medical

  $63,607,656

  Retail

  $95,655,504

Location Insight

City

Murfreesboro

County

Rutherford

State

Tennessee

Latitude

35.8486

Longitude

-86.4184

CBSA code

34980

CBSA name

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

Property Tax & Assessments

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