829 Main StWoodbury, TN 37190

Property Details for 829 Main St

Year built

2019

Construction

FRAME

Lot size

0.70 AC

Property size (Sq ft)

3,726 SF

Property type

Healthcare properties

Property subtype

Medical offices

APN

008039J C 00501

APU

008039JC00501

Description

This exceptional investment opportunity presents a 3,600 square foot medical office building in Woodbury, Tennessee, currently 100% occupied by Fast Pace Health under a triple-net (NNN) lease. The lease, commencing November 2, 2019, and expiring November 1, 2031, has approximately 6.9 years remaining, offering significant long-term stability. The property boasts a strong 6.78% cap rate and a net operating income (NOI) of $108,192, with a sale price of $1,595,752.21 ($443.26 per square foot). Built in 2019, this single-unit building sits on a 0.7-acre lot at 829 W Main St, Woodbury, TN 37190. The lease includes a corporate guarantee from FP UC Holdings, LLC, and features annual rent increases. The tenant, Fast Pace Health, a leading urgent care operator with over 230 locations, provides a stable and growing revenue stream. This property is ideally suited for investors seeking a passive income stream in a tax-free state, and presents a compelling opportunity for a 1031 exchange. Landlord responsibilities are limited to roof and parking lot structure maintenance. The property benefits from a strong local economy, with an average household income within a 5-mile radius exceeding $61,998. Fast Pace Health's expansion into telehealth services further enhances the long-term prospects of this investment.

• CAP approach

  CAP return

  Valuation

  6%

  $643,674

  6.5%

  $594,161

  7%

  $551,721

• Comparable approach

  Method

  Valuation

  Relative Method

  $320,734

  Geo Method

  $320,734

• Alternative Use

  Use

  Valuation

  Residential

  $736,759

  Hospitality

  $674,868

  Educational

  $561,482

  Medical

  $580,792

  Retail

  $873,416

Location Insight

City

Woodbury

County

Cannon

State

Tennessee

Latitude

35.8271

Longitude

-86.0805

CBSA code

34980

CBSA name

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

Property Tax & Assessments

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