921 Cherokee Ave Nashville, TN 37207-5220
- Warehouses
- 8,247 SF
May 17, 2021
Current Use by Public Records
- The Bottega at Frankies / Fresh Food Market
- Switchyards East Hill / Coworking Space
Property Details for 921 Cherokee Ave
- Year built
- 1954
- Property size
- 8,247 SF
- Property type
- Warehouses
- Property subtype
- Self storage facilities
- APN
- 072-09-1Q-002-00
- APU
- 072091Q00200
Description
This exceptional 24,705 square foot shopping center in Nashville, TN, presents a compelling investment opportunity. Located at 921 Cherokee Ave, in the rapidly developing East Nashville submarket, this 100% occupied, stabilized asset boasts a prime location within a thriving community. Built in 2023, the center features a diverse tenant mix including established brands like Frankies Spuntino, Switchyards, Benji's Bagels, and Burn Boot Camp, all benefiting from strong lease terms with built-in annual rent increases and long-term contracts (three of four tenants have over eight years remaining). The property sits on a 1.18-acre lot (APN: 072091Q00200CO) and benefits from significant population growth in the area – a 15% increase within a 1-mile radius since 2020, with projected growth of 12.1% over the next five years. The average household income within a 3-mile radius is $112,125, and the median age is 33.8 years, indicating a strong millennial demographic. The property's adjacency to the Flats at Laurel & Pine (a 166-unit multifamily development) ensures high foot traffic. Furthermore, minimal near-term capital expenditures are anticipated due to recent upgrades including new roofs and HVAC systems completed during the 2023 redevelopment. This investment offers a stable income stream with significant upside potential driven by the area's robust growth trajectory and strong tenant base. The property's location in Davidson County, zip code 37207, provides easy access to major transportation routes and amenities.
Value Estimations
-
AI approach
- Method
- Estimation
- ML approach
- $690,000
-
CAP approach
- CAP Return
- Estimation
- 6%
- $1,275,000
- 6.5%
- $1,175,000
- 7%
- $1,095,000
-
Comparable approach
- Method
- Estimation
- AI Estimate
- $1,145,000
Market price range: $345k - $1.49M
Get a detailed, property-specific valuation — fast and free
Location Insight
- Map
- Local Demand
- City
- Nashville
- County
- Davidson
- State
- Tennessee
- Longitude
- -86.7486
- Latitude
- 36.2016
- CBSA code
- 34980
- CBSA name
- NASHVILLE-DAVIDSON--MURFREESBORO--FRANKLIN, TN METROPOLITAN STATISTICAL AREA
