Renovated Retail/Office Flex
1717 Gallatin Pike N, Madison, TN 37115
Renovated commercial building in Rivergate, leased to national tenant.
Type:Retail
Property size:
25,269 SFPrice / SF:
$237/SF- Added:
- Nov 25, 2025
- Days on Market:
- 186
- Last Refresh:
- May 19 at 8:53 pm
Property Features for 1717 Gallatin Pike N
General Information
- Standard status
- Active
- Size
- 25,269 SF
- Property subtype
- Retail
Building Details
- Year Built
- 1989
Listing agent Adrian Del Rio License #CalDRE #01431059
Listing office PCG COMMERCIAL, INC (916) 303-0133
Listing date Nov 25, 2025
Source Pcgcommercial
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
All listing content including descriptions, pricing, images are the copyrighted material of PCG COMMERCIAL, INC
HighLights
- Leased to Concentra, a national credit‑rated tenant, under a long‑term NNN lease for stable income.
- Opportunity for owner‑user to occupy a portion of the 16,149 SF vacant space, divisible into +/-10,000 SF and 5,000 SF, while benefiting from existing tenant income.
- Recent renovations include a new roof, HVAC units, asphalt, updated exterior, and energy‑efficient lighting.
- Located in the high‑traffic Rivergate retail central business district with 53,000 ADT.
- Significant income upside potential by leasing the vacant space at market rent.
- Proximity to major transportation routes and Downtown Nashville.
Overview
The renovated standalone retail/office flex building is located in the Rivergate central business district, approximately 20 minutes from Downtown Nashville. The property is currently leased NNN to Concentra, a national credit-rated health services tenant, with a lease extension that commenced in 2020 and ends in October 2030, including an additional 5-year extension option. Concentra occupies 9,120 square feet at a lease rate of $1.68 per square foot, generating a monthly income of $15,390 and an annual income of $184,680. CAM expenses are fully reconciled annually. Concentra specializes in occupational medicine and workforce health, treating approximately 50,000 patients daily across 625 health centers in 44 states. The property features 16,149 square feet of vacant warm shell, wet sprinklered space with 4 bathrooms, which can be divided into approximately 10,000 square feet and 5,000 square feet. The estimated market rent for the vacant space is $1.65 - $1.75 per square foot NNN. The vacant suites are suitable for an owner-user business looking to own and collect monthly NNN income to offset expenses. The building is an end-cap standalone property situated at the intersection of Gallatin Pike and Myatt, with a traffic count of approximately 53,000 average daily traffic. The property includes 50 allocated on-parcel parking spaces. Recent renovations include a new roof, six new HVAC units, newly laid asphalt, updated exterior brick, modern metal awning covers, larger windows for natural lighting, and energy-efficient exterior lighting. The property is located in the epicenter of the Rivergate retail central business district, near retailers such as Target, Walmart, and Home Depot. The area behind the property includes a large Amazon fulfillment center and industrial businesses. The Rivergate area has a population of 42,000 within a 3-mile radius and 82,000 within a 5-mile radius, with 50,000 employees.
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $667.1k | $26.40 |
| − Vacancy | −$103.4k | −$4.09 |
| EGI | $563.7k | $22.31 |
| − OpEx | −$140.9k | −$5.58 |
| NOI | $422.8k | $16.73 |
25,269 SF · lease $26.40/SF/yr · vacancy 15.50% · expense 25.00%
Alternative Uses
Best Use
Office B
$6.04M
$5.28M – $7.05M
NOI $422,776 @ 7.0% cap · market cap 7.05%
Second Best
Healthcare Medical
$5.57M
$4.87M – $6.50M
NOI $389,960 @ 7.0% cap · market cap 6.50%
Theoretical Best
Warehouse
$30.59M
$26.77M – $35.69M
NOI $2,141,449 @ 7.0% cap · market cap 35.72%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Retail space
Location Insight
- Map
- Local Demand
- City
- Madison
- County
- Davidson
- State
- Tennessee
- Longitude
- -86.6986
- Latitude
- 36.2956
FAQs
What type of property is this?
Retail space - Renovated commercial building in Rivergate, leased to national tenant.
Where is this retail space located?
The property is located at 1717 Gallatin Pike N Madison, TN.
What is the asking price?
The asking price for this property is $5,995,000.
What are key features of this property?
This property features: Leased to Concentra, a national credit‑rated tenant, under a long‑term NNN lease for stable income.; Opportunity for owner‑user to occupy a portion of the 16,149 SF vacant space, divisible into +/-10,000 SF and 5,000 SF, while benefiting from existing tenant income.; Recent renovations include a new roof, HVAC units, asphalt, updated exterior, and energy‑efficient lighting.
