2303 South Church Street
12,000 square feet of conditioned warehouse space on .94 acres
The Southeast Submarket of Nashville, which runs along the I-24 corridor from Downtown Nashville to Beechgrove, has experienced massive industrial expansion during this economic cycle. With nearly 40% (over 10,000,000 square feet) of Nashville’s total industrial delivery this cycle, it’s safe to say Southeast Nashville is booming. Many national tenants, including Nissan, Amazon, and General Mills, have a presence in the submarket. Although rent growth has started to slow down in recent quarters, the Southeast Submarket is still experiencing above-average annual growth with an increase of over 7.9% in the last 12 months alone. Over $400 million worth of industrial traded last year - some of the highest investment activity in the Greater Nashville Area.
About the Corridor
South Church Street is one of the largest arteries running in and out of Murfreesboro, both in terms of length (extending from Shelbyville through I-24 to Broad Street in Downtown Murfreesboro) and traffic (32,000+ cars per day on Church Street and 95,000+ per day on I-24). The corridor is considered a major thoroughfare for the city of Murfreesboro and therefore has a high density of retail and professional services along with bus routes.
About 2303 South Church Street
2303 South Church Street is a single-story warehouse located just of the South Church exit at I-24. The building was originally constructed in 1983 and has since been very well maintained. Renovated in 2016, the building was brought from an antique store to a high-level sports training facility. With minor modifications, this facility could be adapted to suit a wide range of uses thanks to its open floor plan. For permitted uses in Murfreesboro’s Light Industrial Zoning, please refer to Chart 1 here. Features include:
Taller ceilings - 14’-18’+
Visibility from South Church Street and I-24
Ideal connectivity to interstates / major corridors
Surface parking
Open floor plan
Key Metrics on the Southeast Submarket
Market Rent per Square Foot: $7.21
Vacancy Rate: 7.4%
Months on Market 7
Market Sale Price per Square Foot: $65
Market Sale Price: $5.2 million
Market Cap Rate 6.3%