806 Nissan DrSmyrna, TN 37167

Property Details for 806 Nissan Dr

Year built

2005

Construction

FRAME

Lot size

1.91 AC

Property size (Sq ft)

14,466 SF

Zone code

C-2

Property type

Retail properties

Property subtype

Drug stores

APN

034C-A-001.01-000

APU

034CA00101000

Description

This exceptional investment opportunity presents a 14,550 square foot Walgreens located at 806 Nissan Drive, Smyrna, TN 37167, within the Nashville MSA. The property boasts a strong 100% occupancy rate under a corporate-guaranteed, absolute triple-net (NNN) lease with Walgreens, a highly-rated tenant (S&P: BBB). The 13-year primary lease term commenced September 1, 2022, and includes twelve 5-year option periods, providing long-term stability and predictable income. Rent increases of 5% every five years, including option periods, offer significant protection against inflation. The property features a convenient drive-thru and sits on a substantial 1.91-acre lot. The building was constructed in 2005 and generates a Net Operating Income (NOI) of $392,850, representing a 7.00% cap rate and a price per square foot of $385.98. This strategically located property is adjacent to a Walmart Supercenter and benefits from high traffic counts exceeding 41,000 vehicles daily at the intersecting Nissan Drive and Enon Springs Road East. The surrounding area boasts an affluent demographic with an average household income exceeding $75,000 within a 5-mile radius. The property's location near the Nissan Smyrna Vehicle Assembly Plant and numerous other retail establishments further enhances its desirability and long-term prospects. The asking price for this exceptional investment is $5,616,000.

• CAP approach

  CAP return

  Valuation

  6%

  $3,673,576

  6.5%

  $3,390,994

  7%

  $3,148,780

• Comparable approach

  Method

  Valuation

  Relative Method

  $3,137,988

  Geo Method

  $3,137,988

• Alternative Use

  Use

  Valuation

  Residential

  $2,860,430

  Hospitality

  $2,620,138

  Educational

  $2,179,924

  Medical

  $2,254,895

  Retail

  $3,390,994

Location Insight

City

Smyrna

County

Rutherford

State

Tennessee

Latitude

35.9728

Longitude

-86.4938

CBSA code

34980

CBSA name

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

Property Tax & Assessments

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?

Please email our support team at [email protected] and they will add the team member.

How do I access a private listing?

Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.

How can I contact the broker?

We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.

How do I unsubscribe from emails?

At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].