Cap Rate
8%
Price Per SF
$99
Year Built
1970
Leasable Area
14,668 SF
NOI
$116,332
Property Type
Retail
INVESTMENT HIGHLIGHTS
- Absolute NNN Lease – True, Absolute NNN lease with Zero Landlord Responsibilities providing a new owner with a passive investment opportunity over the long term.
- Large Parcel – The ±17,657 SF structure is sitting on ±2.09 AC providing long term viability for site redevelopment and maximization of value.
- Significantly Below Replacement Cost – The property is being offered at $99 PSF. Significantly below the cost to purchase the land and produce a similar structure in today’s market.
- 10% Increases in the Four, 5-Year Remaining Option Periods
- Below Market Rent – Tenant is Currently Paying $7.93 PSF, with estimated Market Rents at $11.00 – $13.00 PSF
- Frontage and Visibility – The Property has several ingress/egress points on East 1st Street, providing significant exposure with ±18,500 VPD
Broker of Record
- Bill Pedersen
- License No. 80041 (GA)
- (866) 889-0550
- Matthews Real Estate Investment Services, Inc
- 1600 West End,
Ste. 1500 Nashville, TN 37203