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921 Cherokee AveNashville, TN 37207

High-Growth East Nashville Retail Center

Overview

Added:
Dec 11, 2024
Days on market:
114
This exceptional 24,705 square foot shopping center in Nashville, TN, presents a compelling investment opportunity. Located at 921 Cherokee Ave, in the rapidly developing East Nashville submarket, this 100% occupied, stabilized asset boasts a prime location within a thriving community. Built in 2023, the center features a diverse tenant mix including established brands like Frankies Spuntino, Switchyards, Benji's Bagels, and Burn Boot Camp, all benefiting from strong lease terms with built-in annual rent increases and long-term contracts (three of four tenants have over eight years remaining). The property sits on a 1.18-acre lot (APN: 072091Q00200CO) and benefits from significant population growth in the area – a 15% increase within a 1-mile radius since 2020, with projected growth of 12.1% over the next five years. The average household income within a 3-mile radius is $112,125, and the median age is 33.8 years, indicating a strong millennial demographic. The property's adjacency to the Flats at Laurel & Pine (a 166-unit multifamily development) ensures high foot traffic. Furthermore, minimal near-term capital expenditures are anticipated due to recent upgrades including new roofs and HVAC systems completed during the 2023 redevelopment. This investment offers a stable income stream with significant upside potential driven by the area's robust growth trajectory and strong tenant base. The property's location in Davidson County, zip code 37207, provides easy access to major transportation routes and amenities.

Highlights

  • 24,705 SF shopping center in booming East Nashville, TN (921 Cherokee Ave). 100% occupied with strong tenant mix including Frankies Spuntino, Switchyards, Benji's Bagels, and Burn Boot Camp.
  • Strong demographics: 15% population growth within 1 mile radius since 2020, projected 12.1% growth over next 5 years; $112,125 average household income within 3-mile radius; median age 33.8 years.
  • Attractive lease terms: Annual rent increases; three of four tenants have over eight years remaining on their leases.
  • Proven retail concepts with established brands and experienced operators.
  • Minimal near-term capital expenditures due to recent 2023 redevelopment including new roofs and HVAC systems.

Property Details for 921 Cherokee Ave

Property type
Lifestyle centers, Power centers
Square Feet
24,705 SF
Year Built
2023
Lot Size (sq. ft)
51,401 SF

Location Insight

City
Nashville
County
Davidson
State
Tennessee
Latitude
36.2018825
Longitude
-86.7486497
921 Cherokee Ave, Nashville, Tennessee

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921 Cherokee Ave
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