NNN & Value in Nashville MSA 1717 Gallatin Pike N 25,269 SF 40% Leased Retail Building Madison, TN 37115 $5,995,000 ($237.25/SF) 7.20% Cap Rate

Exclusively Listed by PCG Commercial TN Lic. 265971
Adrian Del Rio TN Lic. 371574
(615)626-6426
1717 Gallatin Pike N is a renovated standalone Retail / Office Flex building located in the the Rivergate central business district just 20 minutes from Downtown Nashville. This is an incredible opportunity to own a commercial building leased NNN to Concentra, a national credit rated health services tenant, within one of the strongest growing MSA's in the country for only $237 PSF!
The property was recently renovated with a new roof, (6) new HVAC units, newly laid asphalt updated exterior brick, modern metal awning covers, added larger windows for more natural lighting, and energy efficient exterior lighting. 1717 Gallatin Pike N features 50 allocated on parcel parking
There is 16,149 SF of vacant warm shell wet sprinklered space with 4 bathrooms that can be demised into +/-10,000 SF and 5,000 SF with an estimated market rent of $1.65 - 1.75 PSF NNN. The vacant suites are ideal for an owner-user business that would prefer to own vs. rent plus collect monthly NNN income to offset expenses. Furthermore, TI expenses will be reasonable since major capex has already been completed by the seller.
*ABOUT CONCENTRA URGENT CARE: Has leased at the property since the 90s and recent lease extension commenced in 2020 ending October 2030 with an additional (1) - 5 year extension option. CAM expenses are fully reconciled at the end of each year.
Occupied SF: 9,120 SF
Lease Rate: $1.68 PSF + NNNs
Monthly: $15.390
Annual: $184,680
National Credit Rated medical tenant that specializes in occupational medicine and workforce health such as physical therapy, employer drug testing, and wellness. They treat 50,000 patients per day in more than 625 occupational health centers across 44 states. Sources indicate that Concentra's annual revenue is $2.01 Billion with a Net Revenue of $148 Million. They're headquartered in Addison, TX.