423 BroadwayNashville, TN 37203

This exceptional Class A, 9,200 square foot restaurant building, located at 423 Broadway in Nashville, TN (zip code 37203), presents a compelling investment opportunity. The property, a four-story structure situated on a 0.05-acre lot in the heart of Nashville's vibrant Lower Broadway entertainment district, is currently 100% occupied by a Mellow Mushroom franchisee under a 25-year Absolute NNN lease. The lease commenced on March 29, 2017, and has a remaining term of approximately 17.4 years, expiring March 29, 2042. The current NOI is $36,208, yielding a cap rate of 0.15%, while the pro-forma NOI is projected at $434,000, resulting in a pro-forma cap rate of 1.74%. The asking price is $24,900,000, translating to a price per square foot of $2,706.52. The building underwent renovations seven years ago and benefits from rent bumps. The property is zoned for commercial retail use. This is a rare chance to acquire a high-performing asset in one of Nashville's most sought-after locations. The property's strong tenant, long-term lease, and significant upside potential make it an attractive investment for discerning buyers. The building's prime location within the bustling Honky Tonk Highway ensures consistent high foot traffic and strong revenue generation.