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4331 Old Hickory Blvd
Old Hickory, TN 37138
Granwood Village · Retail Property For Sale
Investment Highlights
- Fully occupied retail center located in a high-growth Nashville submarket.
- Surrounding tenant mix is service-oriented and resistant to e-commerce displacement.
- Located within 15 minutes of Nashville International Airport and surrounding national retailers.
- Anchored by Urban Air, a long-standing tenant with recent lease renewal and upside potential.
- Positioned near significant traffic corridors with approximately 25K vehicles per day.
- Priced below replacement cost and offers NOI growth projections over the next five years.
Executive Summary
Granwood Village is a fully leased 44,698-square-foot retail center strategically positioned in the Hermitage-Donelson submarket of Nashville, Tennessee. Located along Old Hickory Boulevard with excellent visibility, the center features strong co-tenancy disciplines anchored by Urban Air Adventure Park, which has been operating at this location since 2018 and recently renewed its lease with a rent increase. Additional tenants include a yoga studio, dry cleaners, nail spa, insurance firm, and tailor, creating an e-commerce-resistant tenant mix that draws consistent local traffic.
Situated just 15 minutes from Nashville International Airport and near major retailers like Home Depot, Lowe’s, and Kroger, Granwood Village benefits from high traffic counts of approximately 25,000 vehicles per day. The Nashville MSA continues to experience robust economic and population growth, with the surrounding submarket posting very low vacancy (2.3%) and strong rent growth (4.8% YoY). This property offers stable income, embedded rental upside, and pricing below replacement cost, providing both immediate yield and future value-add potential for an investor.
Situated just 15 minutes from Nashville International Airport and near major retailers like Home Depot, Lowe’s, and Kroger, Granwood Village benefits from high traffic counts of approximately 25,000 vehicles per day. The Nashville MSA continues to experience robust economic and population growth, with the surrounding submarket posting very low vacancy (2.3%) and strong rent growth (4.8% YoY). This property offers stable income, embedded rental upside, and pricing below replacement cost, providing both immediate yield and future value-add potential for an investor.
Property Facts
Sale Type
Investment
Property Type
Retail
Building Size
44,698 SF
Building Class
B
Year Built/Renovated
1999/2018
Price
$4,500,000
Price Per SF
$100.68
Cap Rate
7.85%
NOI
$353,250
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Loading Docks
2 Exterior
Building FAR
0.20
Lot Size
5.26 AC
Zoning
R15 - Commercial Planned Unit Development
Parking
202 Spaces (4.52 Spaces per 1,000 SF Leased)
Frontage
304’ on Old Hickory Blvd
Amenities
- Pylon Sign
- Signage
- Signalized Intersection
- Drive Thru
Property Taxes
| Parcel Number | 064-00-0-117 | Improvements Assessment | $2,281,920 |
| Land Assessment | $352,640 | Total Assessment | $2,634,560 |
Property Taxes
Parcel Number
064-00-0-117
Land Assessment
$352,640
Improvements Assessment
$2,281,920
Total Assessment
$2,634,560
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