290 Hicks Rd Nashville, TN 37221-3404
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.
CL, Commercial Limited District. The CL district is designed to provide for a limited range of commercial uses primarily concerned with retail trade and consumer services, general and fast food restaurants, financial institutions, administrative and consulting offices. This district may be used in areas policied for concentrations of mixed commercial develop…
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendProperty tax & assessments
Tax year 2023Comparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Property description
Physical attributes from public recordsZoning & alternative use
CL · Nashville, TNCL, Commercial Limited District. The CL district is designed to provide for a limited range of commercial uses primarily concerned with retail trade and consumer services, general and fast food restaurants, financial institutions, administrative and consulting offices. This district may be used in areas policied for concentrations of mixed commercial development, super community or regional scale retail concentrations, or in the vicinity of major intersections within existing arterial commercial areas. The uses in this district serve a moderately wide market area, and therefore ease of automobile access is requisite. 3. CS, Commercial Service District. The CS district is intended to provide opportunities for a diverse range of commercial uses that include retail trade and consumer services, automobile sales and repair, small scale custom assembly, restaurants, entertainment and amusement establishments, financial, consulting and administrative services. This district may be used in areas policied for concentrations of mixed commercial community development, at selected locations within super community retail concentrations and regional activity centers, or in the vicinity of major intersections within existing arterial commercial areas. Business establishments in the CS district often serve a wide market area, and ease of automobile access is requisite. However, it is not intended that this district permit uses which generate truck traffic other than the stocking of products. Because of the diverse nature of uses found in this district, bulk and buffering standards are designed to protect neighboring areas. 4. CA, Commercial Attraction District. The CA district provides a diverse range of amusement and recreational uses in association with overnight accommodations and a variety of retail and support services typically affiliated with the tourist industry. Bulk and parking standards are designed to reflect the high traffic generation rates commonly associated with uses found in this district. The CA district may be appropriate for selected areas policied for a regional activity center, or for concentrations of mixed commercial development. This district also may have limited application within super community scale retail concentrations, and in the vicinity of major intersections within existing arterial commercial areas. 5. CF, Core Frame District. The CF district is intended to implement the general plan's central business district land use policies for support services.
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
