985 Industrial BlvdSmyrna, TN 37167

Property Details for 985 Industrial Blvd

Year built

2011

Construction

FRAME

Lot size

0.87 AC

Property size (Sq ft)

4,830 SF

Property type

Healthcare properties

Property subtype

Medical offices

APN

028-066.06-000

APU

2806606000

Description

This exceptional investment opportunity presents a 4,800 square foot Class A retail building, currently leased to American Family Care under a 15-year absolute NNN lease commencing August 1, 2023, and expiring July 31, 2038. The property boasts a strong 6.18% cap rate and a substantial net operating income (NOI) of $167,505. The lease includes annual rent bumps tied to CPI increases, with a 2% floor and no cap, ensuring consistent income growth. Located at 985 Industrial Blvd, Smyrna, TN 37167, this strategically positioned property benefits from its proximity to a high-performing Target store and other national retailers such as Kohl's, BJ's Club, Ross, Starbucks, Chipotle, and Longhorn Steakhouse. The site features ample parking, providing convenient access for patients. The property enjoys high visibility with 48,942 vehicles per day on Sam Ridley Parkway. The tenant, American Family Care, is backed by a corporate guarantee, mitigating risk. This single-tenant, net lease investment offers a secure and lucrative return with a remaining lease term of approximately 13.7 years and a price per square foot of $564.67. The asking price is $2,710,434. A 10-year lease option is also available.

• CAP approach

  CAP return

  Valuation

  6%

  $834,392

  6.5%

  $770,208

  7%

  $715,194

• Comparable approach

  Method

  Valuation

  Relative Method

  $415,766

  Geo Method

  $415,766

• Alternative Use

  Use

  Valuation

  Residential

  $955,058

  Hospitality

  $874,828

  Educational

  $727,847

  Medical

  $752,879

  Retail

  $1,132,206

Location Insight

City

Smyrna

County

Rutherford

State

Tennessee

Latitude

35.9788

Longitude

-86.5663

CBSA code

34980

CBSA name

NASHVILLE-DAVIDSON--MURFREESBORO--FRANKLIN, TN METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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