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829 Gale Ln 4,000 SF 100% Leased Office Building Nashville, TN 37204 $1,600,000 ($400/SF) 5.75% Cap Rate
Investment Highlights
- Highly Desirable Location
- New Condo Project w/ Parking Next Door
- Nothing Like It In the Area
Executive Summary
Rare neighborhood office space tucked between 12S and Oak Hill along Franklin Rd! New condos being built in the adjacent lot. The main level is triple-net leased as a single unit with roughly 2000sf. The 2000sf basement level is split and currently gross leased as 6 individual suites. Both levels have common areas, kitchens, and bathrooms. The building and location are highly sought after and have stayed fully leased for the past 9 years. The upstairs was renovated in 2023 and a new HVAC in 2024. The roof was replaced in 2021.The basement was totally renovated in 2017 including HVACs.
Property Facts
Sale Type
Investment or Owner User
Property Type
Office
Property Subtype
Loft/Creative Space
Building Size
4,000 SF
Building Class
B
Year Built
1934
Price
$1,600,000
Price Per SF
$400
Cap Rate
5.75%
NOI
$92,050
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Typical Floor Size
2,000 SF
Building FAR
0.21
Lot Size
0.44 AC
Zoning
OL - Zoned CS which is a broad commercial designation. Ideal for office or creative use but can be used for limted retail as well.
Parking
6 Spaces (1.5 Spaces per 1,000 SF Leased)
1 1
Fairly walkable
50/100
Exceptionally drivable
100/100
Limited public transit
20/100
Property Taxes
| Parcel Number | 118-06-0-066 | Improvements Assessment | $185,775 |
| Land Assessment | $140,000 | Total Assessment | $325,775 |
Property Taxes
Parcel Number
118-06-0-066
Land Assessment
$140,000
Improvements Assessment
$185,775
Total Assessment
$325,775
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829 Gale Ln
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