Cap Rate
6%
Price Per SF
$246
Gross SQFT
11,600
Term Remaining
±2.25 YRS
NOI
$171,364
Property Type
Retail
INVESTMENT HIGHLIGHTS
- Strong Credit Tenant – SiteOne Landscape Supply (NYSE: SITE) holds a Ba2 credit rating from Moody’s.
- Great Visibility – The property benefits from approximately ±35,700 vehicles passing by daily on Lebanon Pike.
- Dense Retail Corridor – The property is surrounded by national retailers such as Truist, Dutch Bros Coffee, Mattress Firm, Aspen Dental, Hobby Lobby, Five Guys, O’Reilly Auto Parts, and Firestone.
- Attractive Rent Increases – SiteOne’s lease includes 2.5% annual rent increases, offering a hedge against inflation.
- Value-Add Component – A new investor can negotiate a new lease with Lamar for the billboard on the property.
- Essential Business – SiteOne locations remained operational during the COVID-19 pandemic.
- Limited Landlord Responsibilities – The lease structure is passive, with the landlord only responsible for the roof, structural walls, and foundation.
Broker of Record
- Hutt Cooke
- License No. 263667 (TN)
- (866) 889-0550
- Matthews Real Estate Investment Services, Inc
- 1600 West End,
Ste. 1500 Nashville, TN 37203