290 Hicks Rd Nashville, TN 37221-3404

Property Details for 290 Hicks Rd

Year built

2005

Lot size

1.00 lot acres

Property size

2,952 SF

Zone code

CL

Property type

Drive through restaurants

APN

142-00-0-368-00

APU

14200036800

Description

This exceptional investment opportunity presents a brand-new, 3,327 square-foot Starbucks located at 290 Hicks Rd, Nashville, TN 37221. Built in 2024, this single-tenant property boasts a 10.1-year net lease with a corporate guarantee from Starbucks (NASDAQ: SBUX), providing significant financial security. The lease commenced January 1, 2025, and expires January 31, 2035, with a remaining term of 10.2 years. The asking price is $3,836,000, representing a compelling $1,208 per square foot and a 5.50% cap rate based on a current Net Operating Income (NOI) of $211,000. The property sits on a one-acre lot and includes a drive-thru. Rent increases are structured with a 10% bump every five years, ensuring consistent growth in rental income. The property enjoys a highly visible location along Highway 70 South (37,798 AADT) near Interstate 40 (65,660 AADT), approximately 13 miles from downtown Nashville. This prime retail location benefits from strong demographics, including a population of 296,428 and an average household income of $158,577 within a 10-mile radius. The area features numerous successful retail centers, including Bellevue Valley Plaza, Bellevue Plaza, Bellevue Place, Belle Forest Shopping Center, and Bellevue Center, all anchored by major retailers. The property also benefits from a 1.5% annual population growth rate within a 10-mile radius. Four five-year lease options are included.

Location Insight

City

Nashville

County

Davidson

State

Tennessee

Longitude

-86.9258

Latitude

36.0735

CBSA code

34980

CBSA name

NASHVILLE-DAVIDSON--MURFREESBORO--FRANKLIN, TN METROPOLITAN STATISTICAL AREA

Property Tax & Assessments