Rutherford County

Murfreesboro, TN

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Other Prospective Locations

Other Prospective Locations
Other Prospective Locations

Murfreesboro, TN: A Demographic and Economic Overview

Murfreesboro, TN, is a significant city within Rutherford County, recognized for its steady growth and economic diversity:

  • Population Growth: A solid 6.3% increase from April 2020 to July 2022, with a current population of 162,398, highlights Murfreesboro’s consistent growth and its potential for further economic development.

  • Median Household Income: The median household income of $66,984, while slightly lower than Spring Hill’s, still reflects a community with a healthy level of consumer spending capability.

  • Educational Attainment: The city boasts a high percentage of high school graduates at 93.5%, and a significant 41.4% of its population holds a bachelor’s degree or higher, indicating a well-educated workforce ready for a variety of industries.

  • Housing Market: The housing market shows a majority of homes are owner-occupied with a rate of 52.7% and a median home value of $274,600, suggesting a stable and accessible housing market.

  • Diverse and Inclusive: Murfreesboro presents a diverse ethnic mix with 71.0% White, 18.5% Black or African American, 3.3% Asian, and 7.3% Hispanic or Latino populations, reflecting a community with diverse cultural backgrounds.

  • Economic Indicators: The poverty rate stands at 12.1%, and the labor force participation rate is at 71.3%, indicating a resilient economy with room for growth in employment opportunities.

  • Business Landscape: The city’s economy is bolstered by strong retail, health care, and transportation sectors, with retail sales reaching a significant $3,738,452,000 in 2017.

  • Connectivity: With an average commute time of 27.4 minutes, Murfreesboro is well-connected, facilitating easy access to job centers and amenities.

  • Retail Sales: The total retail sales per capita in 2017 were an impressive $27,425, showcasing a robust retail environment conducive to business ventures.

  • Land Area: Murfreesboro has seen a substantial increase in population density since 2010, indicating efficient growth and urban planning within its 62.89 square miles of land area.

The data positions Murfreesboro as a compelling choice for business investment, with its sizable, educated population and a resilient economy. The city’s demographic profile and economic indicators suggest it is a favorable environment for new and expanding businesses, particularly those aiming to serve a diverse and growing community.

  • Population (2022): 162,398
  • Population Growth (2020-2022): 6.3%
  • Median Household Income: $66,984
  • Persons under 18 years: 23.5%
  • Persons 65 years and over: 9.8%
  • Female persons: 51.1%
  • White alone: 71.0%
  • Black or African American alone: 18.5%
  • Asian alone: 3.3%
  • Hispanic or Latino: 7.3%
  • Owner-occupied housing rate: 52.7%
  • Median value of owner-occupied housing units: $274,600
  • Median gross rent: $1,152
  • Households: 54,768
  • Persons per household: 2.65
  • High school graduate or higher: 93.5%
  • Bachelor’s degree or higher: 41.4%
  • Veterans: 7,132
  • Foreign born persons: 6.5%
  • Households with a broadband Internet subscription: 91.0%
  • Persons without health insurance: 9.0%
  • In civilian labor force: 71.3%
  • Total retail sales (2017): $3,738,452,000
  • Total retail sales per capita (2017): $27,425
  • Mean travel time to work: 27.4 minutes
  • Persons in poverty: 12.1%
  • Population per square mile (2020): 2,429.2

Potential Salon Locations in Rutherford County, TN

The Shops of Lee Village

Rutherford County, TN
Property Management: Crossman & Company
Leasing Agent: Melody Holley

1640 Lee Victory Pky
  • Development Type: Established neighborhood center with a focus on retail and service offerings.
  • Commercial Offering: 76,932 SF of gross leasable area, anchored by a prominent Publix supermarket, catering to a variety of retail, restaurant, and medical services.
  • Lease Details: Competitive rental rates ranging from $16.00 to $18.00/SF/YR on a Triple Net (NNN) lease basis, with available spaces ranging from 1,050 SF to 3,150 SF for a term of 5 years.
  • Construction Timeline: Built in 2008, The Shops of Lee Village offer modern facilities with immediate occupancy available.
  • Strategic Location: Interstate visibility from I-24 and less than three miles from the Nissan Assembly Plant, which employs approximately 8,000 workers, ensures a steady flow of potential customers. The center enjoys a frontage of 1,598’ on Almaville Rd with combined traffic counts of 19,131 CPD.
  • Community Design: A Publix-anchored neighborhood center that provides a convenient shopping experience with easy access to Interstate 24. The center’s design promotes a community-friendly atmosphere with ample parking of 545 spaces and is situated in Rutherford County, the second fastest-growing county in Tennessee.
  • Additional Amenities: The property features a pylon sign for increased visibility and is located at a signalized intersection, enhancing accessibility and safety for visitors.
Flyer1238TheShopsOfLeeVillageDownload
630 W Burton St

Rutherford County, TN
Property Management: Adventure Park Realty
Leasing Agent: April Cashion

  • Strategic Positioning: High-traffic area with visibility near major thoroughfares, ensuring a steady flow of potential clients.
  • Available Space: 2,880 SF on the 1st floor, fully built out for immediate office use.
  • Lease Terms: Offered at $20.88/SF/YR for a 3-year term, under a Triple Net (NNN) lease.
  • Space Use: Office space, ready with full build-out including 10 private offices, a large conference room, and more.
  • Property Highlights:
  • Type: Former real estate office, ideal for professional services.
  • Leasable Area: Entire 1-story building of 2,880 SF.
  • Parking: 20 surface parking spaces available.
  • Accessibility: 24-hour access with central heating and DDA compliance.
204 Battalion Blvd

Rutherford County, TN
Property Management: SK Park Properties
Leasing Agent: Seongkeun Park

  • Strategic Positioning: Situated in Murfreesboro’s retail growth area, this space is set to draw in traffic alongside King Tiger Martial Arts.
  • Available Space: Ranges from 1,600 to 4,000 SF on the 1st floor, with a customizable layout for retail.
  • Lease Terms: Negotiable lease at $30.00/SF/YR, Triple Net (NNN), starting March 2025.
  • Space Use: Suitable for retail, exclusive of utilities and property expenses.
  • Property Highlights:
  • Type: New, build-to-suit retail opportunity.
  • Leasable Area: Part of an 8,220 SF property.
  • Parking: Sufficient with a 6.2/1,000 SF ratio.
  • Construction: Scheduled for Q2 2024.
Victory-Station-Lot-J-FlyerDownload

Contact Us

Interested in learning more about Athenian and how you can help bring our concept to your area? Send us a quick message and we’ll get back to you soon with more information!

Other Prospective Athenian Nail Spa & Bar Locations in TN!

The information provided by this calculator is for reference and estimation purposes only and should not be considered as an indication of actual profitability. The calculations are based on current market lease rates, historical data on salon performance, and other key economic indicators specific to the prospective site locations. The profit results are presented net of Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA). This tool does not account for all financial factors and risks involved in running a salon business. Prospective investors are encouraged to conduct their own due diligence and consult with financial advisors before making investment decisions.