806 Nissan Dr Smyrna, TN 37167

Property Details for 806 Nissan Dr

Year built

2005

Construction

FRAME

Lot size

1.91 lot acres

Property size

14,466 SF

Zone code

C-2

Property type

Drug stores

APN

034C-A-001.01-000

APU

034CA00101000

Description

This exceptional investment opportunity presents a 14,550 square foot Walgreens located at 806 Nissan Drive, Smyrna, TN 37167, within the Nashville MSA. The property boasts a strong 100% occupancy rate under a corporate-guaranteed, absolute triple-net (NNN) lease with Walgreens, a highly-rated tenant (S&P: BBB). The 13-year primary lease term commenced September 1, 2022, and includes twelve 5-year option periods, providing long-term stability and predictable income. Rent increases of 5% every five years, including option periods, offer significant protection against inflation. The property features a convenient drive-thru and sits on a substantial 1.91-acre lot. The building was constructed in 2005 and generates a Net Operating Income (NOI) of $392,850, representing a 7.00% cap rate and a price per square foot of $385.98. This strategically located property is adjacent to a Walmart Supercenter and benefits from high traffic counts exceeding 41,000 vehicles daily at the intersecting Nissan Drive and Enon Springs Road East. The surrounding area boasts an affluent demographic with an average household income exceeding $75,000 within a 5-mile radius. The property's location near the Nissan Smyrna Vehicle Assembly Plant and numerous other retail establishments further enhances its desirability and long-term prospects. The asking price for this exceptional investment is $5,616,000.

Location Insight

City

Smyrna

County

Rutherford

State

Tennessee

Longitude

-86.4938

Latitude

35.9728

CBSA code

34980

CBSA name

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

Property Tax & Assessments