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1705 Old Fort Pky
Murfreesboro, TN 37129
Norther Tool + Equipment | Recent Extension · Retail Property For Sale
Investment Highlights
- Recent 5-Year Extension | 20-Year Operating History
- Established Retail Corridor | Frontage to 43,600 VPD
- Modified NNN | Fee Simple Ownership | Limited Landlord Responsibilities
- Dense & Affluent Trade Area | Nashville MSA (40 Min | 33 Miles)
Executive Summary
SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN leased, Northern Tools + Equipment investment property located in Murfreesboro, Tennessee. The tenant, Northern Tool & Equipment Company, Inc has 5+ years remaining on their lease with 2 (5-year) options to extend, demonstrating their commitment to the site. The lease features 1.5% annual increases throughout the remainder of term and 2% annual increases at the beginning of each option period, steadily growing NOI and hedging against inflation. The lease is Modified NNN with limited landlord responsibilities making it an ideal, low management investment opportunity for an out of state investor.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
25,984 SF
Building Class
C
Year Built
2006
Price
$5,617,000
Price Per SF
$216.17
Cap Rate
6.35%
NOI
$356,695
Tenancy
Single
Building Height
1 Story
Building FAR
0.10
Lot Size
6.20 AC
Opportunity Zone
Yes
Zoning
CH
Parking
105 Spaces (4.04 Spaces per 1,000 SF Leased)
Frontage
317’ on Old Fort Pky
Amenities
- Pylon Sign
- Signage
Property Taxes
| Parcel Number | 091-014.01-000 | Improvements Assessment | $795,640 |
| Land Assessment | $489,640 | Total Assessment | $1,285,280 |
Property Taxes
Parcel Number
091-014.01-000
Land Assessment
$489,640
Improvements Assessment
$795,640
Total Assessment
$1,285,280
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