Medical Office
For Sale
Contact for pricing
923 S Broadway St, Portland, TN 37148
Existing medical configuration supports continued healthcare-related occupancy and professional office use.
Property Size4,464 SF
Lot Size1.30 Acres
Price / SF$357.30
Days on Market52
Property Features for 923 S Broadway St
General Information
Standard status
Active
Size
4,464 SF
Lot size
1.30 Acres
Property subtype
Mixed Use
Additional Details
Road Access
Yes
Building Details
Building Size
4,464 SF
Year Built
2001
Listing Agency:
Exit Realty Garden Gate Team
Listed By:
Michael Auguste · License #375273
(615) 323-0707
Source:
Thefullerproperties
Added: Aug 17
Changed: Oct 4
Last Checked: Oct 7 at 6:36PM
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 Exit Realty Garden Gate Team
Investment Insights
Based on property information with market context.
Located at 923 S Broadway St in Portland, Tennessee, this medical office property contains approximately 4,464 square feet of space on approximately 1.3 acres. Built in 2001, the building is currently occupied by a medical professional and retains an established healthcare-oriented layout.
The property is positioned directly in front of the hospital within an established healthcare corridor. South Broadway frontage contributes to its visibility and access, while the existing medical configuration may accommodate continued healthcare use or professional office occupancy. The asset combines an operating medical-office setting with a substantial land component in Portland.
The property is positioned directly in front of the hospital within an established healthcare corridor. South Broadway frontage contributes to its visibility and access, while the existing medical configuration may accommodate continued healthcare use or professional office occupancy. The asset combines an operating medical-office setting with a substantial land component in Portland.
Key Highlights
- Approximately 4,464 square feet of medical office space
- Approximately 1.3 acres
- Directly in front of the hospital within an established healthcare corridor
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$74,687
Cap Rate
4.68%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,493,740
$1.5M
Cap Rate 7%
$1,066,957
$1.1M
Cap Rate 9%
$829,856
$829.9K
Market Conditions
NOI Build-Up for 4,464 SF
Gross rent
$117.8K $26.40/SF
− Vacancy
−$18.3K −$4.09/SF
EGI
$99.6K $22.31/SF
− OpEx
−$24.9K −$5.58/SF
NOI
$74.7K $16.73/SF
Area
Sumner County, TN
Vacancy
15.50%
Lease Rate
$26.40 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,493,740
Cap Rate 7%
$1,066,957
Cap Rate 9%
$829,856
Alternative Uses
Best Use
Office B
$1.07M
$933.6K – $1.24M
NOI $74,687 @ 7.0% cap · market cap 4.68%
Second Best
Healthcare Medical
$863.0K
$755.1K – $1.01M
NOI $60,409 @ 7.0% cap · market cap 3.79%
Theoretical Best
Specialty Retail
$1.56M
$1.37M – $1.82M
NOI $109,378 @ 7.0% cap · market cap 6.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
118
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 37148, TN
25,318
Population
9,919
Households
2.6
Avg Household Size
38
Median Age
14%
College-Educated
88%
High-School Grad
131.9 sq mi
ZIP Area
192
Density / Sq Mi
$77,684
Median Household Income
$39,949
Median Earnings
$1,082
Median Rent
$273,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in South region
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Similar Off Market Nearby
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Existing medical configuration supports continued healthcare-related occupancy and professional office use.
Where is this medical office space located?
The property is located at 923 S Broadway St Portland, TN.
What is the asking price?
The asking price for this property is $1,595,000.
What are key features of this property?
This property features: Approximately 4,464 square feet of medical office space; Approximately 1.3 acres; Directly in front of the hospital within an established healthcare corridor
