502 Ellington Dr Lafayette, TN 37083-1697
Property Lookup
Property profile & analytics
502 Ellington Dr Lafayette, TN 37083-1697
- Medical Office Space
- 3,854 SF
- 1.89 lot acres
Property ID
US80-2390681
The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
Location Intelligence
Current Use by Public Records
- Fast Pace Health Urgent Care - Lafayette, TN / Medical Clinic
Property Details for 502 Ellington Dr
- Year built
- 2018
- Construction
- WOOD
- Lot size
- 1.89 lot acres
- Property size
- 3,854 SF
- Property type
- Medical Office Space
- Property subtype
- Medical centers
- APN
- 056050P A 00907
- APU
- 056050PA00907
Description
This exceptional investment opportunity presents a 3,600 square foot medical office building in Lafayette, Tennessee. The property, built in 2018, is situated on a 0.65-acre lot and boasts a single tenant, Fast Pace Urgent Care Clinic, under a triple-net (NNN) lease with a corporate guaranty. The current lease, commenced July 5, 2018, has a remaining term of approximately 5.6 years, with two six-year renewal options. Annual rent escalations of 1.25% are built into the lease. The asking price is $1,620,500, representing a 6.90% cap rate and a net operating income (NOI) of $111,832 (as of July 1, 2024). The property features ample parking (7.22 spaces per 1,000 sq ft) and is conveniently located near Walgreens and the US Postal Service. The strong tenant, Fast Pace Health, operates numerous clinics across six states, ensuring a stable income stream. With a price per square foot of $450.14, this property offers a compelling investment opportunity for those seeking a stable, income-producing asset in a growing market. The property is zoned commercial and offers a low-price investment opportunity, making it ideal for a 1031 exchange. The location benefits from a population of 13,275 people within a 5-mile radius and an average household income of $64,750 within the same radius. The tenant is responsible for all property expenses except for the building structure.
Value Estimations
based on Realmo’s proprietary methodology
-
AI approach
- Method
- Estimation
- Statistic approach
- $1,945,000
- ML approach
- $1,945,000
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- City
- Lafayette
- County
- Macon
- State
- Tennessee
- Longitude
- -86.0379
- Latitude
- 36.5231
- CBSA code
- 34980
- CBSA name
- NASHVILLE-DAVIDSON--MURFREESBORO--FRANKLIN, TN METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2019
$7,963
$100,000
$219,320
$319,320
-
$250,000
$548,300
$798,300
