2500 Gallatin AveNashville, TN 37206

Property Details for 2500 Gallatin Ave

Year built

2003

Lot size

1.67 AC

Property size (Sq ft)

15,712 SF

Zone code

MUL-A

Property type

Retail properties

Property subtype

Drug stores

APN

072-13-0-385-00

APU

7213038500

Description

This exceptional investment opportunity presents a 14,560-square-foot Walgreens situated on a 1.67-acre lot at 2500 Gallatin Ave, Nashville, TN 37206. The property boasts a prominent location on a signalized corner with over 136 feet of frontage on Gallatin Avenue, a major retail corridor extending over 30 miles. Built in 2003, this single-tenant, absolute triple-net (NNN) leased property features a Walgreens tenant with a lease commencement date of March 3, 2003, and an expiration date of September 30, 2028, representing a remaining lease term of approximately 3.9 years. The lease includes options to terminate every 5 years, with a full lease term expiring September 30, 2078. The property offers a compelling 5.65% cap rate and a net operating income (NOI) of $371,346, with an asking price of $6,575,000 ($451.58 per square foot). The high-density area surrounding the property includes a mix of national and local tenants, and benefits from a population exceeding 220,000 within a 5-mile radius and a daily traffic count of 26,220 vehicles on Gallatin Avenue. This presents a strong investment opportunity in a thriving Nashville neighborhood, minutes from downtown. The property is not subject to a ground lease.

• CAP approach

  CAP return

  Valuation

  6%

  $3,989,992

  6.5%

  $3,683,070

  7%

  $3,419,994

• Comparable approach

  Method

  Valuation

  Relative Method

  $3,408,272

  Geo Method

  $3,408,272

• Alternative Use

  Use

  Valuation

  Residential

  $3,106,807

  Hospitality

  $2,845,819

  Educational

  $2,367,688

  Medical

  $2,449,116

  Retail

  $3,683,070

Location Insight

City

Nashville

County

Davidson

State

Tennessee

Latitude

36.1954

Longitude

-86.7423

CBSA code

34980

CBSA name

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

Property Tax & Assessments

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