Murfreesboro, TN - Murphy USA
$4,000,000
E. Northfield Highway & Highway 96, Murfreesboro, TN 37130
5
Cap Rate
200,000
NOI
Details:
Description:
SRS National Net Lease is pleased to offer the opportunity to acquire the leased fee interest (land ownership) in an absolute NNN leased, corporate signed, Murphy USA investment property located in Murfreesboro, Tennessee. The tenant, Murphy Oil USA, Inc. recently signed a brand new 20-year lease with 4 (5-year) options to extend, demonstrating their commitment to the site. The lease features 8% rental increases every 5 years throughout the initial term and at the beginning of each option period, steadily growing NOI and hedging against inflation. The lease is an absolute NNN ground lease with zero landlord responsibilities making it an ideal, management free investment opportunity for an out of state investor. The property is scheduled for a December 2026 grand opening.
The Murphy USA is located at the signalized, hard corner intersection of N Rutherford Blvd (25,900 VPD) and State Hwy 96 (16,600 VPD) with a combined (42,500 VPD). N Rutherford Blvd, is a major retail thoroughfare serving the city of Murfreesboro. Additionally, the property is positioned just east of a Walmart Supercenter, which helps increase consumer draw to the area. Furthermore, the asset is situated a few miles east of Broad Street Center, a 211,000 square foot shopping center anchored by Big Lots, Crunch Fitness, Dollar Tree, and more. Moreover, the site is located near mulitple apartment communities including Ashwood Cove Apartments (547 Units), 1540 Place Apartments (240 Units), Crossings at Hazelwood (96 Units), providing a strong residential consumer base. The property is in the center of a primary retail corridor with other nearby national/credit tenants including Kroger, Aaron’s Furniture, Sprouts Farmers Market, CVS Pharmacy, AMC Theatres, and more, further increasing consumer traffic to the site. The 5-mile trade area is supported by a population of over 100,200 with an affluent average household income of $110,290.
Location
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