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Off Market
1/5

2333 Dr Martin Luther King Jr Blvd
Murfreesboro, TN 37130


HIGHLIGHTS

  • Newly Constructed Shopping Center in High Growth Submarket
  • Rare Value-Add Opportunity
  • High Traffic Counts in Proximity to Major Intersection
  • Tremendous Visibility
  • Neighboring Major University (MTSU- largest undergraduate enrollment in Tennessee)
  • Flexible Use- Conversion & Demand for Office Development

OVERVIEW

Marcus & Millichap is pleased to present the 2309 Center, located in close proximity to Middle Tennessee State University and a Walmart Supercenter. This 2017 constructed 7,500-square-foot retail shopping sits in close proximity to one of the busiest intersections in Murfreesboro, TN. It is currently 37 percent occupied and the investment affords a unique value-add opportunity for Class A retail at top of the market NNN lease rates. Strategically positioned near the intersection of Mercury Boulevard and Rutherford Boulevard, this location provides tremendous retail visibility. In addition, the property offers the ability to transition into a demand submarket office/medical use. Ample parking and open box layout, provide for versatile use. The property was originally envisioned to have six tenants, each with its own separate entrance. Suite A (1,125 sf) was leased to Ali Vape Shop in April 2021. Suite C is leased to Bee Hive Bistro, which signed a 5-year lease in June 2020. The balance of the building interior includes wall studs, concrete floors, restroom utilities and ceiling joists. This allows a new buyer flexibility in attracting alternative interior configurations. Suites B and E can be combined into a 2,500 sf space or Suites D, E and F can be combined into a 3,375 sf space. Murfreesboro is situated just 34 miles southeast of Nashville and has garnered itself as one of Tennessee's highest growth markets, as well as one of the fastest growing cities in the United States. Neighboring Middle Tennessee State is the fastest growing university in the state with an enrollment of over 30,000 students. It features a brick facade and contains 47 parking spaces. The property is a zoned commercial highway, which allows the broadest range of retail, office and service uses. A Walmart Superstore is located at this intersection as well as several retailers, including Starbucks, Applebee's and Tractor Supply. Middle Tennessee State University is less than one mile from the site. The area is also densely developed with apartment complexes. Murfreesboro is the fifth largest city in Tennessee and one of the fastest growing in the United States. Traffic counts are shown as almost 33,000 on South Rutherford Boulevard, and 14,000 on Mercury Boulevard. Population within a one-mile radius is 10,766, and is 55,351 within a 10-mile radius.

FOR SALE DETAILS

PRICE

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CAP RATE

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% LEASED

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TENANCY

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BUILDING DETAILS

PROPERTY NAME

JUST REDUCED 2309 Mercury Blvd

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront Retail/Office

ADD'L SUBTYPES

undefined, Storefront, Medical

TOTAL BUILDING SIZE

7500

STORIES

1

YEAR BUILT

2018

SPRINKLERS

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PARKING SPACES

52

LAND DETAILS

LAND ACRES

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LAND SF

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ZONING

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APN/PARCEL ID

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