122 Market Exchange Ct Franklin, TN 37067-1707

This exceptional investment opportunity presents the fee simple interest in a Class A, 57,447 square foot Tesla Dealership & Service Plus located at 122 Market Exchange Ct, Franklin, TN 37067. The property sits on a 7.12-acre lot and benefits from a 10-year NNN lease with Tesla Motors, Inc., commencing July 1, 2022, and expiring June 30, 2032, with two 5-year renewal options. The lease includes significant rent bumps: a 12% increase in July 2027 and 10% increases at the start of each option period. The current NOI is $947,876, with a pro-forma NOI of $1,062,770, resulting in a current cap rate of 5.50% and a pro-forma cap rate of 6.17%. Built in 2005 and extensively renovated in 2022, including a new roof with a 10-year warranty, this single-tenant property boasts 100% occupancy. The property is zoned RC-6, allowing for various uses including commercial, mixed-use, large-scale office or retail buildings, civic buildings, and multifamily developments. The location is highly desirable, situated in a dense retail corridor with strong tenant synergy and affluent demographics (over 101,000 residents within a 5-mile radius, boasting an average household income exceeding $156,000). The property's proximity to Interstate 65 and the Cool Springs Galleria further enhances its appeal. Tesla's significant $4.5 million investment in the location underscores their long-term commitment. This is a rare, infill opportunity in a rapidly growing market.