For Sale
$4,995,000

403 Gallatin AveNashville, TN 37206

Prime location, high NOI, strong tenants.

Overview

Added:
Dec 11, 2024
Days on market:
114
This exceptional 5,985 square foot retail property, located at 403 Gallatin Avenue in Nashville, Tennessee, presents a compelling investment opportunity. The property boasts a 5.26% cap rate and a substantial net operating income (NOI) of $262,574, derived from a 100% occupancy rate across two tenants: Sherwin-Williams and Jane's Hideaway. These tenants occupy the single-story building, constructed in 1950 and renovated in 2022, under triple-net (NNN) leases with a remaining term of three years and 3.5% annual rent bumps. The property sits on a 0.46-acre corner lot, providing excellent visibility and accessibility along Gallatin Avenue, a major thoroughfare. Eighteen parking spaces are available. The MUG-A zoning allows for potential future redevelopment into mixed-use or multi-family projects, subject to necessary approvals. This stabilized investment offers predictable cash flow and significant upside potential in the rapidly growing East Nashville market, just minutes from downtown Nashville. The property's strong tenant mix, prime location, and redevelopment potential make it an ideal acquisition for investors seeking a high-return, low-risk investment in a thriving urban environment. The asking price is $4,995,000, translating to $834.59 per square foot.

Highlights

  • 5,985 SF retail property at 403 Gallatin Ave, Nashville, TN.
  • Fully leased to Sherwin-Williams and Jane's Hideaway with a 5.26% cap rate and $262,574 NOI.
  • Triple-net (NNN) leases with 3-year terms and 3.5% annual rent increases.
  • Located on a 0.46-acre corner lot with 18 parking spaces, offering excellent visibility and accessibility on Gallatin Avenue.
  • MUG-A zoning allows for mixed-use or multi-family redevelopment.

Property Details for 403 Gallatin Ave

Property type
Retail properties, Restaurants
Square Feet
5,985 SF
Year Built/Renovated
1950/2022
Buildings
1
Stories
1
Lot Size (sq. ft)
20,038 SF
Units
2

Location Insight

City
Nashville
County
Davidson
State
Tennessee
Latitude
36.1809439
Longitude
-86.7491999
403 Gallatin Ave, Nashville, Tennessee

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403 Gallatin Ave
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