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Mixed-Use

Nashville TN - Sidco Dr. - Mixed Use

4300 Sidco Dr, Nashville, TN 37204

Listing Price: $4,975,000

Cap Rate
6.35%
Number of Suites
7
Gross SF
30,000
Rentable SF
29,230
Price/Gross SF
$165.83
Lot Size
1.70 acres
Year Built
2000

Investment Overview

Marcus & Millichap is pleased to present the opportunity to own the Sidco Drive Properties in Nashville, TN. The two-building property has an actual vacancy rate of 1.22% over the last six years and is currently leased to medical, legal, insurance, engineering, retail and art businesses. The two anchor tenants have been with the property for nearly twenty years and make up sixty-three percent (63%) of the rent roll. Concentra Urgent Care (20.4%) is a corporate, 520 unit operator with over $1.62B of annual revenue. Fabric House (43%) has been in business in Nashville since 1966 and just signed a new 5-year lease extension. Over one-third (1/3) of the rent roll reimburses for increases to the landlords expenses by base year expense stop. (p. 16) The offering is a leasehold interest which grants leaseholder control over the 1.70 acre parcel for eighty-years. The leaseholder benefits from rental income, depreciation and significant upside through the beginning of the next century, in 2101. The leaseholder cost is fixed ground rent for the term of the 80 year lease which is $1.15 psf. (p. 16. - Ground Lease line item) The Subject property is positioned at the northeast corner of I-65 and Hwy 255 (Harding Pl) and just 500 feet from the I-65 exit. The property is neighbor to the CSX Railyard of Nashville (3rd largest of CSX) The average household income is $108,838 in a 1-mile radius.

Investment Highlights

  • Eighty Year's Remain on Fixed Rent Ground Lease | Leasehold Interest
  • Excellent Access From I-65 | Neighbor to CXS Railyard
  • Eighty (80) Years Of Rental Income, Depreciation & Upside
  • Concentra Urgent Care (20.4% of GLA) | $1.62B Total Rev. (2019) | 18-Yr. Tenant
  • Fabric House (43% of GLA) | Operating since 1966 | 2021 Renewal | 21-Yr. Tenant
  • Diversified Tenant Mix: Medical, Law, Insurance, Engineering, Retail & Art
  • Average HHI: $108,838 (1-mi) | $93,423 (3-mi) | $104,184 (5-mi)
  • High Barrier to Entry

Exclusively Listed By

Broker of Record

  • Jody McKibben

    First Vice President/Regional Manager

    (615) 997-2860

    License(s) TN: 307629

    Tennessee

Mixed-Use

Nashville TN - Sidco Dr. - Mixed Use

Listing Price: $4,975,000

Cap Rate
6.35%
Number of Suites
7
Gross SF
30,000
Rentable SF
29,230
Price/Gross SF
$165.83
Lot Size
1.70 acres
Year Built
2000

Investment Highlights

  • Eighty Year's Remain on Fixed Rent Ground Lease | Leasehold Interest
  • Excellent Access From I-65 | Neighbor to CXS Railyard
  • Eighty (80) Years Of Rental Income, Depreciation & Upside
  • Concentra Urgent Care (20.4% of GLA) | $1.62B Total Rev. (2019) | 18-Yr. Tenant
  • Fabric House (43% of GLA) | Operating since 1966 | 2021 Renewal | 21-Yr. Tenant
  • Diversified Tenant Mix: Medical, Law, Insurance, Engineering, Retail & Art
  • Average HHI: $108,838 (1-mi) | $93,423 (3-mi) | $104,184 (5-mi)
  • High Barrier to Entry

Investment Overview

Marcus & Millichap is pleased to present the opportunity to own the Sidco Drive Properties in Nashville, TN. The two-building property has an actual vacancy rate of 1.22% over the last six years and is currently leased to medical, legal, insurance, engineering, retail and art businesses. The two anchor tenants have been with the property for nearly twenty years and make up sixty-three percent (63%) of the rent roll. Concentra Urgent Care (20.4%) is a corporate, 520 unit operator with over $1.62B of annual revenue. Fabric House (43%) has been in business in Nashville since 1966 and just signed a new 5-year lease extension. Over one-third (1/3) of the rent roll reimburses for increases to the landlords expenses by base year expense stop. (p. 16) The offering is a leasehold interest which grants leaseholder control over the 1.70 acre parcel for eighty-years. The leaseholder benefits from rental income, depreciation and significant upside through the beginning of the next century, in 2101. The leaseholder cost is fixed ground rent for the term of the 80 year lease which is $1.15 psf. (p. 16. - Ground Lease line item) The Subject property is positioned at the northeast corner of I-65 and Hwy 255 (Harding Pl) and just 500 feet from the I-65 exit. The property is neighbor to the CSX Railyard of Nashville (3rd largest of CSX) The average household income is $108,838 in a 1-mile radius.

Exclusively Listed By

Broker of Record

  • Jody McKibben

    First Vice President/Regional Manager

    (615) 997-2860

    License(s): TN: 307629

    Tennessee

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