For Sale
$3,335,000

2854 Main StCrossville, TN 38555

High-traffic, 100% occupied retail center.

Overview

Added:
Dec 11, 2024
Days on market:
114
This exceptional retail investment property in Crossville, Tennessee, offers a compelling opportunity. Located on Hwy 28/N Main St, a primary retail corridor with 22,000 vehicles daily, the property boasts a signalized intersection with Interstate Dr. and is conveniently situated one mile from I-40 (43,000 vehicles per day). The 5,600-5,628 square foot building, constructed in 2020, sits on a 0.65-acre lot and is currently 100% occupied by Aspen Dental and T-Mobile, both seasoned operators with extensive national footprints (8,000+ combined locations). The property benefits from strong primary term rent escalations, offering inflation protection: T-Mobile has 2% annual increases, and Aspen Dental features a 10% increase in year 6. The property's proximity to major national retailers like Walmart and Lowe's, which boast high foot traffic, further enhances its appeal. Crossville's strategic location between Nashville and Knoxville, coupled with a substantial student population within a four-mile radius, contributes to a robust and stable market. The property's Net Operating Income (NOI) is $216,749, resulting in a 6.50% cap rate, and the asking price is $3,335,000. This is a rare opportunity to acquire a high-performing, well-located retail asset with significant upside potential.

Highlights

  • High-traffic Hwy 28/N Main St frontage with signalized intersection access and proximity to I-40 interchange (43,000 VPD).
  • Strong co-tenancy with national retailers including Walmart & Lowe's (top 93rd & 91st percentile nationally in foot traffic, respectively).
  • Primary term rent escalations: T-Mobile (2% annual) and Aspen Dental (10% in year 6).
  • Creditworthy tenants: Aspen Dental and T-Mobile, backed by large corporate entities with 8,000+ combined locations.
  • Desirable Crossville location, midway between Nashville and Knoxville, with a large student population within a 4-mile radius.

Property Details for 2854 Main St

Property type
Retail properties
Square Feet
5,600 SF
Year Built
2020
Lot Size (sq. ft)
28,314 SF

Location Insight

City
Crossville
County
Cumberland
State
Tennessee
Latitude
35.9872041
Longitude
-85.0379203
2854 Main St, Crossville, Tennessee

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2854 Main St
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