1002 Highway 76 Springfield, TN 37188
- Retail properties
- 4,650 SF
- 3.47 lot acres
Current Use by Public Records
- Retail properties
Property Details for 1002 Highway 76
- Year built
- 2024
- Lot size
- 3.47 lot acres
- Property size
- 4,650 SF
- Property type
- Retail properties
- Property subtype
- Grocery and convenience stores
Description
Exceptional investment opportunity: a brand-new, 4,650 square foot 7-Eleven (Speedway) convenience store and gas station in White House, Tennessee, is available for purchase. This property boasts a 15-year absolute NNN lease commencing September 26, 2024, and expiring September 30, 2039, with built-in rent bumps. The property features a strong 5.15% cap rate and a substantial NOI of $602,914. Situated on a 3.47-acre lot at 1002 Hwy 76 E, White House, TN 37188, this location benefits from high visibility and accessibility on State Route 76, a primary retail thoroughfare, with daily traffic exceeding 16,800 vehicles. Its strategic placement directly off the interchange of State Route 76 and Interstate 65 (64,000+ VPD) ensures significant commuter and long-haul traffic exposure. The property is surrounded by numerous national brand tenants, including Walmart Supercenter, McDonald's, and others, creating a robust retail environment. The area's population growth is substantial, with a 26% increase within five miles since 2010 and a remarkable 48% growth within one mile between 2010 and 2023. This presents a compelling opportunity for passive investors seeking a stable, long-term investment with a credit-rated, corporate-guaranteed tenant. The asking price is $11,708,000. This is a 1031 exchange eligible property. The building was constructed in 2024.
Value Estimation
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Springfield
- County
- Robertson
- State
- Tennessee
- Longitude
- -86.7247
- Latitude
- 36.4767
