For Sale
$3,100,000

204 Maddox-Simpson PkwyLebanon, TN 37090

Gov't Leased, 10-Year Lease, High NOI

Overview

Added:
Dec 11, 2024
Days on market:
115
This exceptional investment opportunity presents a single-tenant, 9,955 square foot office building fully leased to the Tennessee Department of Safety and Homeland Security. Located in Lebanon, TN, within the Nashville MSA, this property boasts a newly completed, $1.125 million renovation (2024), encompassing a new roof, windows, HVAC system, plumbing, and electrical upgrades. The 10-year lease, commencing December 1, 2024, and expiring November 30, 2034, provides exceptional long-term stability and a strong 6.50% cap rate based on a Net Operating Income (NOI) of $200,948. The tenant, with an AAA+ S&P Global Credit Rating, is responsible for all utilities and janitorial services. The property features 128 paved parking spaces and sits on a 1.81-acre level lot. Built in 2012, this single-story brick building offers a secure and stable investment with in-place professional management available. The property is 100% occupied with a lease type classified as Modified. This is a rare opportunity to acquire a high-quality, government-leased asset in a rapidly growing submarket of the Nashville MSA. The property is located at 204 Maddox-Simpson Pkwy, Lebanon, TN 37090.

Highlights

  • $3,100,000 asking price, 6.50% cap rate, $200,948 NOI.
  • 9,955 SF single-story brick building on a 1.81-acre lot in Lebanon, TN (Nashville MSA).
  • 10-year lease with the State of Tennessee (Department of Safety & Homeland Security) commencing December 1, 2024.
  • 100% occupancy; tenant pays all utilities and janitorial; AAA+ credit rating.
  • Recently renovated ($1.125 million) including roof, windows, HVAC, plumbing, and electrical.
  • 128 parking spaces.

Property Details for 204 Maddox-Simpson Pkwy

Property type
Office properties
Square Feet
9,955 SF
Year Built/Renovated
2012/2024
Buildings
1
Stories
1
Lot Size (sq. ft)
78,844 SF
Units
1

Location Insight

City
Lebanon
County
Wilson
State
Tennessee
Latitude
36.1728574
Longitude
-86.2979779
204 Maddox-Simpson Pkwy, Lebanon, Tennessee

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204 Maddox-Simpson Pkwy
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