Income-Producing Medical Investment Opportunity

421 N Broadway, Portland, TN 37148

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For Sale

$1,400,000

Fully stabilized medical investment property in a rapidly growing Tennessee community.

Property size:

5,100 SF

Price / SF:

$274/SF

HighLights

Fully stabilized, income‑producing medical investment property.
Diversified income stream from three tenants and two asset types (medical office and residential).
Strong 6.0% cap rate with $83,400 NOI. Minimal landlord obligations.
New 5‑year NNN leaseback with Firefly Health and existing lease with NuLife Physical Therapy through September 2029.
Located in rapidly growing Portland, Tennessee, just 45 minutes north of Nashville.
Updated medical office building (renovated in 2024) with established tenancy and immediate cash flow.

We can help!

Listing Contact

TANNER SMITH

For Sale

$1,400,000

Fully stabilized medical investment property in a rapidly growing Tennessee community.

Property size:

5,100 SF

Price / SF:

$274/SF

Added:: Jun 24, 2025
Days on Market:: 357
Last Refresh:: Mar 16 at 9:09 am

Property Features for 421 N Broadway

General Information

Standard status: Active
Size: 5,100 SF

Building Details

Year Built: 1948

We can help!

Listing Contact

TANNER SMITH

Listing agent TANNER SMITH

Listing office COMPASS RE

Listing date Jun 24, 2025

Source Corcoran

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 COMPASS RE

HighLights

Fully stabilized, income‑producing medical investment property.
Diversified income stream from three tenants and two asset types (medical office and residential).
Strong 6.0% cap rate with $83,400 NOI. Minimal landlord obligations.
New 5‑year NNN leaseback with Firefly Health and existing lease with NuLife Physical Therapy through September 2029.
Located in rapidly growing Portland, Tennessee, just 45 minutes north of Nashville.
Updated medical office building (renovated in 2024) with established tenancy and immediate cash flow.

Overview

This property offers the opportunity to acquire a stabilized, income-producing medical investment located in Portland, Tennessee. The ±0.82-acre parcel includes a ±5,000 SF medical office building and a ±938 SF tenant-occupied residential home, providing diversified income across three tenants and two asset types. The property will be secured by a new 5-year NNN leaseback with Firefly Health ($5,000/month) and an existing lease with NuLife Physical Therapy ($1,700/month MG) through September 30, 2029, alongside a residential lease at $1,000/month. Combined, the asset generates $92,400 in annual rental income with a NOI of $83,400, supporting a 6.0% cap rate. Originally built in 1948 and updated for modern healthcare operations in 2024, the medical office is well-maintained with established tenancy and immediate in-place cash flow. The property is located 45 minutes north of Nashville in Sumner County, an area experiencing sustained demand for both healthcare and housing. This investment is suitable for buyers seeking stable medical tenancy, low management requirements, and long-term growth potential in a high-demand Middle Tennessee market.

Local Financial Insights For Office B

Simulate Cap Rate and NOI

NOI Build-Up

Component	$	$/SF
Gross rent	$134.6k	$26.40
− Vacancy	−$20.9k	−$4.09
EGI	$113.8k	$22.31
− OpEx	−$28.4k	−$5.58
NOI	$85.3k	$16.73

5,100 SF · lease $26.40/SF/yr · vacancy 15.50% · expense 25.00%

Alternative Uses

Best Use

Office B

$1.22M

$1.07M – $1.42M (±1% cap)

NOI $85,328 @ 7.0% cap · market cap 6.09%

Second Best

Healthcare Medical

$985.9K

$862.7K – $1.15M (±1% cap)

NOI $69,015 @ 7.0% cap · market cap 4.93%

Theoretical Best

Specialty Retail

$1.79M

$1.56M – $2.08M (±1% cap)

NOI $124,961 @ 7.0% cap · market cap 8.93%

Zoning and permitted uses should be independently verified with local authorities.

Property Profile Location Intelligence

Current Use by Public Records

Emily Tidwell Physician Dr. Randy Tidwell ... Physician

Suggested Use

Location Insight

Map
Local Demand

City: Portland
County: Sumner
State: Tennessee
Longitude: -86.5217
Latitude: 36.5886

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For sale
Medical Office Space
TN
Portland
37148
421 N Broadway

What type of property is this?

Medical Office Space - Fully stabilized medical investment property in a rapidly growing Tennessee community.

Where is this medical office space located?

The property is located at 421 N Broadway Portland, TN.

What is the asking price?

The asking price for this property is $1,400,000.

What are key features of this property?

This property features: Fully stabilized, income‑producing medical investment property.; Diversified income stream from three tenants and two asset types (medical office and residential).; Strong 6.0% cap rate with $83,400 NOI. Minimal landlord obligations.