For Sale
$2,700,000

1717 Gallatin Pike Nashville, TN 37115

Net Lease Shopping Center, Value-Add Potential

Overview

Added:
Dec 11, 2024
Days on market:
135
This fee-simple retail shopping center in Nashville, TN, presents a compelling investment opportunity. The 24,092 square foot building, constructed in 1989, sits on a 1.57-acre lot and is currently 39% occupied. A major tenant, Concentra Urgent Care, occupies a significant portion of the space with a lease extending for six years, including a five-year renewal option based on fair market value. Concentra's lease is a triple-net (NNN) lease, meaning they cover common area maintenance, taxes, and insurance. The property boasts a 6.50% cap rate and is priced at $2,700,000 ($112.07 per square foot). Its prime location at the signalized intersection of Gallatin Pike N and Myatt Dr (53,500 combined vehicles per day) benefits from high visibility and strong tenant synergy with nearby big-box retailers such as TJ Maxx, Olive Garden, Whataburger, Dutch Bros, The Home Depot, Target, Walmart Supercenter, PetSmart, and Hobby Lobby. The property is less than three miles from Interstate 65 (176,600 vehicles per day), offering excellent access. The surrounding area has a robust population of over 109,000 residents and 50,000 employees, with an average household income of $82,876. This presents a value-add opportunity for investors to lease up the vacant space and increase profitability. The property's Davidson County location is further identified by APN 034-06-0-034-00.

Property Details for 1717 Gallatin Pike

Property type
Lifestyle centers, Power centers
Square Feet
24,092 SF
Year Built
1989
Buildings
1
Lot Size (sq. ft)
68,389 SF

Location Insight

City
Nashville
County
Davidson
State
Tennessee
Latitude
36.295466
Longitude
-86.698889

FAQs

What type of property is this?
Lifestyle center - Net Lease Shopping Center, Value-Add Potential
Where is the lifestyle center located?
The property is located at 1717 Gallatin Pike Nashville, TN.
What is the asking price?
The asking price for this property is $2,700,000.
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1717 Gallatin Pike
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