For Sale
$4,608,000

1231 Bridgestone PkwyLa Vergne, TN 37086

14,225 SF Warehouse, 9.13 Acres

Overview

Added:
Dec 11, 2024
Days on market:
114
This fee-simple industrial property in La Vergne, TN (Nashville MSA) offers a compelling investment opportunity. The 14,225 square-foot warehouse, built in 1994 and renovated in 2021, sits on a 9.13-acre lot (with approximately 4 usable acres for outdoor storage) and is currently 100% occupied by H&E Rentals under a net lease with a corporate guarantee. The lease, commencing January 25, 2021, and expiring April 30, 2031, has a remaining term of 6.4 years and includes two, two-year renewal options with 2.5% annual rent increases. The property features a fully fenced yard, offices, parts warehouse, a repair shop with six service bays and an overhead crane. The asking price is $4,608,000, representing a 5.75% cap rate and a net operating income (NOI) of $264,915. Strategically located off I-24, this property benefits from its proximity to Nashville International Airport and the rapidly growing Murfreesboro MSA, experiencing low industrial vacancy rates. The tenant, H&E Equipment Services (NASDAQ: HEES), is a major player in the equipment rental industry, providing strong financial backing and long-term stability. This offering presents a rare opportunity to acquire a high-quality, net-leased industrial asset in a thriving market with significant upside potential.

Highlights

  • Investment-grade net-leased industrial property in La Vergne, TN (Nashville MSA), offering a 5.75% cap rate and $264,915 NOI.
  • Strong corporate guarantee from H&E Equipment Services (HEES), a top-5 US equipment rental company with over $1.5B in 2023 revenue.
  • Strategically located off I-24, serving the rapidly growing Nashville and Murfreesboro MSAs, with proximity to Nashville International Airport.
  • Murfreesboro's population growth exceeds 3.5% annually, and Nashville's MSA boasts over 2 million residents.
  • The property features a 14,225 SF warehouse on 9.13 acres (4+ usable acres for outdoor storage), with a fully fenced yard, offices, parts warehouse, and a six-bay repair shop.
  • Extremely low industrial outdoor storage vacancy rates (below 3% as of mid-2022), and a 3.4% overall Nashville industrial vacancy rate (Q2 2024).

Property Details for 1231 Bridgestone Pkwy

Property type
Warehouses, Industrial properties
Square Feet
14,225 SF
Year Built/Renovated
1994/2021
Lot Size (sq. ft)
397,703 SF

Location Insight

City
La Vergne
County
Rutherford
State
Tennessee
Latitude
36.0059526
Longitude
-86.6038984
1231 Bridgestone Pkwy, La Vergne, Tennessee

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1231 Bridgestone Pkwy
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