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Irongate Village 2327-2369 Memorial Blvd 15,156 SF 100% Leased Retail Building Murfreesboro, TN 37129 $7,458,480 CAD ($492.11 CAD/SF) 5.93% Cap Rate
Investment Highlights
- Located along Memorial Boulevard, a major commercial corridor with over 28,378 VPD.
- Benefits from strong local economic drivers including healthcare, education, manufacturing, logistics, and retail.
- Near residential communities, employment centers, and Middle Tennessee State University, supporting high daily consumer activity.
- Situated in Murfreesboro, one of the fastest-growing cities in the Southeast.
Executive Summary
Irongate Village is a fully occupied retail center situated in a high-traffic, densely populated area of Murfreesboro, TN. The property hosts a diverse mix of national, regional, and service-based tenants that align well with daily consumer needs, reinforcing long-term stability and demand. Its prominent position on Memorial Boulevard—one of the city’s primary commercial arteries—ensures exceptional visibility and connectivity, supported by strong surrounding demographics and ongoing regional growth. Murfreesboro’s expanding population, thriving economy, and strategic location within the Nashville MSA enhance the center’s long-term viability and sustained customer draw.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Storefront
Building Size
15,156 SF
Building Class
B
Year Built
1999
Price
$7,458,480 CAD
Price Per SF
$492.11 CAD
Cap Rate
5.93%
NOI
$442,321 CAD
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Loading Docks
3 Exterior
Building FAR
0.11
Lot Size
3.30 AC
Zoning
CH
Parking
80 Spaces (1.13 Spaces per 1,000 SF Leased)
Frontage
290’ on Memorial Boulevard
Amenities
- Pylon Sign
- Drive Thru
Fairly walkable
50/100
Very drivable
80/100
Somewhat bikeable
30/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 069-074.01-000 | Improvements Assessment | $770,459 CAD |
| Land Assessment | $849,706 CAD | Total Assessment | $1,620,166 CAD |
Property Taxes
Parcel Number
069-074.01-000
Land Assessment
$849,706 CAD
Improvements Assessment
$770,459 CAD
Total Assessment
$1,620,166 CAD
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Irongate Village | 2327-2369 Memorial Blvd
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