Corporate-Leased Retail
298 Spring Creek Dr, Franklin, TN 37067
For Sale
New
Contact for pricing
Petco occupies the building under a corporate-guaranteed double-net lease with renewal options, including one exercised in 2025.
Property Size10,903 SF
Lot Size0.45 Acres
Price / SF$363.39
Days on Market7
Property Features for 298 Spring Creek Dr
General Information
Standard status
Size
Lot size
Property subtype
Net Operating Income
Additional Details
Cap Rate
Road Access
Tenant in Place
Building Details
Year Built
Buildings
Tenancy
Listing Agency:
Bang Realty
Listed By:
Brian Brockman · License #701472
(859) 581-1113
Source:
Crexi
Added: Nov 3
Changed: Nov 8
Last Checked: Nov 8 at 3:08PM
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 Bang Realty
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
The 10,903-square-foot retail property sits on 0.45 acres and was built in 2014. Petco occupies the single-tenant building under a corporate-guaranteed double-net lease running through January 31, 2030. The lease includes two additional five-year renewal options with rent increases of 8% or more; one option was exercised in 2025. A transferable roof warranty runs through September 2029. The property has a 6.52% cap rate.
Interstate 65 is visible from the site and carries more than 150,000 vehicles daily. Mallory Lane provides additional access and sees over 20,000 vehicles per day. Kohl’s is adjacent, with Walmart, Whole Foods, Trader Joe’s, Lowe’s, Sam’s Club, and Cool Springs Galleria nearby. The surrounding area includes retail and corporate offices.
Interstate 65 is visible from the site and carries more than 150,000 vehicles daily. Mallory Lane provides additional access and sees over 20,000 vehicles per day. Kohl’s is adjacent, with Walmart, Whole Foods, Trader Joe’s, Lowe’s, Sam’s Club, and Cool Springs Galleria nearby. The surrounding area includes retail and corporate offices.
Key Highlights
- 10,903‑square‑foot, single‑tenant retail property on 0.45 acres
- Petco lease is corporate‑guaranteed and runs through January 31, 2030
- Two additional five‑year renewal options with 8%+ rent increases; one exercised in 2025
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$181,751
Cap Rate
4.59%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,635,020
$3.6M
Cap Rate 7%
$2,596,443
$2.6M
Cap Rate 9%
$2,019,456
$2.0M
Market Conditions
NOI Build-Up for 10,903 SF
Gross rent
$274.8K $25.20/SF
− Vacancy
−$15.1K −$1.39/SF
EGI
$259.6K $23.81/SF
− OpEx
−$77.9K −$7.14/SF
NOI
$181.8K $16.67/SF
Area
Williamson County, TN
Vacancy
5.50%
Lease Rate
$25.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,635,020
Cap Rate 7%
$2,596,443
Cap Rate 9%
$2,019,456
Alternative Uses
Best Use
Retail
$2.60M
$2.27M – $3.03M
NOI $181,751 @ 7.0% cap · market cap 4.59%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.81M
$2.46M – $3.28M
NOI $196,882 @ 7.0% cap · market cap 4.97%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
Single-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,630
Businesses Nearby
713k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Superstores 38%
Dining 20%
Leisure 10%
Apparel 9%
Walmart
Superstores
166,132 visits/mo
0.1 miles
Sam's Club
Superstores
107,014 visits/mo
0.3 miles
AMC Dine In Thoroughbred 20
Leisure
71,149 visits/mo
0.4 miles
Whole Foods Market
Groceries
56,116 visits/mo
0.4 miles
Kohl's
Apparel
44,764 visits/mo
0.1 miles
Demographics for 37067, TN
31,465
Population
14,087
Households
2.2
Avg Household Size
38
Median Age
67%
College-Educated
97%
High-School Grad
32.5 sq mi
ZIP Area
968
Density / Sq Mi
$110,202
Median Household Income
$63,824
Median Earnings
$1,860
Median Rent
$686,200
Median Home Value
Market
Vacancy Rate% for Retail in South region
Frequently Asked Questions
What type of property is this?
NNN property - Petco occupies the building under a corporate-guaranteed double-net lease with renewal options, including one exercised in 2025.
Where is this nnn property located?
The property is located at 298 Spring Creek Dr Franklin, TN.
What is the asking price?
The asking price for this property is $3,962,061.
What are key features of this property?
This property features: 10,903‑square‑foot, single‑tenant retail property on 0.45 acres; Petco lease is corporate‑guaranteed and runs through January 31, 2030; Two additional five‑year renewal options with 8%+ rent increases; one exercised in 2025
