Gallatin QSR Investment
For Sale
Contact for pricing
675 Nashville Pike, Gallatin, TN 37066
Single-tenant QSR with drive-thru, long-term lease, strong tenant.
Property Size4,584 SF
Lot Size1.26 Acres
Price / SF$636
Days on Market138
Property Features for 675 Nashville Pike
General Information
Standard status
Active
Size
4,584 SF
Total Parking Spaces
57
Lot size
1.26 Acres
Property subtype
Retail
Zoning
PNC - Planned Neighborhood Commer
Occupancy
100%
Lease Type
Absolute Net
Investment Type
Net Lease
Net Operating Income
$167,856
Building Details
Year Built
2006
Buildings
1
Stories
1
Tenancy
Single
Listing Agency:
SRS Real Estate Partners Tampa
(404) 231-2232
Listed By:
William Wamble · License #SL3257920
Source:
Crexi
Added: Mar 27
Changed: Aug 8
Last Checked: Aug 11 at 6:32AM
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 SRS Real Estate Partners Tampa
Investment Insights
Based on property information with market context.
Located in Gallatin, Tennessee, the property at 675 Nashville Pike presents an investment opportunity. This single-tenant quick-service restaurant features a drive-thru and operates under an Absolute NNN lease with Tasty Restaurant Group, identified as a top 91st percentile KFC franchisee. The property has a cap rate of 5.75% and generates a net operating income of $167,856. The lease has over 18 years remaining. Situated within the Nashville MSA, the property encompasses 4,584 square feet and is positioned on a 1.259-acre lot. Constructed in 2006, the restaurant operates with a S&P credit rating of BB+ and anticipates revenue growth in 2025.
Key Highlights
- Absolute NNN lease with Tasty Restaurant Group, a top 91st percentile KFC franchisee
- Over 18 years remaining on the lease term
- Net Operating Income (NOI) of $167,856
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$112,318
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.85%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,246,360
$2.2M
Cap Rate 7%
$1,604,543
$1.6M
Cap Rate 9%
$1,247,978
$1.2M
Market Conditions
NOI Build-Up for 4,584 SF
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.
Gross rent
$155.7K $33.96/SF
− Vacancy
−$5.9K −$1.29/SF
EGI
$149.8K $32.67/SF
− OpEx
−$37.4K −$8.17/SF
NOI
$112.3K $24.50/SF
Area
Sumner County, TN
Vacancy
3.80%
Lease Rate
$33.96 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,246,360
Cap Rate 7%
$1,604,543
Cap Rate 9%
$1,247,978
Alternative Uses
Best Use
Specialty Retail
$1.60M
$1.40M – $1.87M
NOI $112,318 @ 7.0% cap · market cap 3.85%
Second Best
—
—
no second resolved use
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
745
Businesses Nearby
303k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 34%
Shops & Services 30%
Groceries 12%
Apparel 8%
Kroger
Groceries
35,184 visits/mo
0.3 miles
Starbucks
Dining
22,716 visits/mo
0.3 miles
Big Lots
Superstores
18,933 visits/mo
0.2 miles
Taco Bell
Dining
17,553 visits/mo
0.1 miles
Dollar Tree
Shops & Services
16,871 visits/mo
0.2 miles
Demographics for 37066, TN
59,370
Population
25,939
Households
2.3
Avg Household Size
40
Median Age
34%
College-Educated
91%
High-School Grad
116.3 sq mi
ZIP Area
510
Density / Sq Mi
$78,049
Median Household Income
$43,311
Median Earnings
$1,305
Median Rent
$376,100
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Drive through restaurant - Single-tenant QSR with drive-thru, long-term lease, strong tenant.
Where is this drive through restaurant located?
The property is located at 675 Nashville Pike Gallatin, TN.
What is the asking price?
The asking price for this property is $2,920,000.
What are key features of this property?
This property features: Absolute NNN lease with Tasty Restaurant Group, a top 91st percentile KFC franchisee; Over 18 years remaining on the lease term; Net Operating Income (NOI) of $167,856
