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421 N Broadway 5,000 SF 100% Leased Office Building Portland, TN 37148 $1,200,000 ($240/SF) 5% Cap Rate
INVESTMENT HIGHLIGHTS
- New 5-Year NNN Leaseback with Firefly Health
- Fully Stabilized with Three Income Streams
- Contact Tanner Smith today with any questions: (731) 693-6576
- NuLife Physical Therapy Leased Through 9/30/2029
- Attractive Opportunity for 1031 Exchange Buyers or Passive Investors
EXECUTIVE SUMMARY
421 N Broadway offers a rare opportunity to acquire a fully stabilized, income-producing medical investment in the heart of Portland, Tennessee—one of Middle Tennessee’s fastest-growing communities. The ±0.82-acre parcel includes a ±5,000 SF medical office building and a ±938 SF tenant-occupied residential home, delivering diversified income across three tenants and two asset types.
At closing, the property will be secured by a new 5-year NNN leaseback with Firefly Health ($3,000/month) and an existing lease with NuLife Physical Therapy ($1,700/month MG) through September 30, 2029, alongside a residential lease at $1,000/month.
Originally built in 1948 and updated for modern healthcare operations, the medical office is well-maintained with established tenancy and immediate in-place cash flow. The property is located just 45 minutes north of Nashville in rapidly growing Sumner County, an area experiencing sustained demand for both healthcare and housing.
This is an ideal investment for buyers seeking durable medical tenancy, minimal management, and long-term upside in a high-growth Middle Tennessee market.
At closing, the property will be secured by a new 5-year NNN leaseback with Firefly Health ($3,000/month) and an existing lease with NuLife Physical Therapy ($1,700/month MG) through September 30, 2029, alongside a residential lease at $1,000/month.
Originally built in 1948 and updated for modern healthcare operations, the medical office is well-maintained with established tenancy and immediate in-place cash flow. The property is located just 45 minutes north of Nashville in rapidly growing Sumner County, an area experiencing sustained demand for both healthcare and housing.
This is an ideal investment for buyers seeking durable medical tenancy, minimal management, and long-term upside in a high-growth Middle Tennessee market.
PROPERTY FACTS
Sale Type
Investment NNN
Sale Conditions
Property Type
Office
Property Subtype
Building Size
5,000 SF
Building Class
C
Year Built/Renovated
1948/2022
Price
$1,200,000
Price Per SF
$240
Cap Rate
5%
NOI
$60,000
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Typical Floor Size
5,000 SF
Building FAR
0.16
Lot Size
0.74 AC
Opportunity Zone
Yes
Zoning
CS - Commercial
Parking
14 Spaces (2.8 Spaces per 1,000 SF Leased)
AMENITIES
- Signage
- Wheelchair Accessible
- Reception
- Air Conditioning
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PROPERTY TAXES
| Parcel Number | 033A-B-015.00 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $254,280 |
PROPERTY TAXES
Parcel Number
033A-B-015.00
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$254,280
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421 N Broadway
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