At Home - Mt. Juliet, TN_Property for Sale
At Home - Mt. Juliet, TN_Property for Sale
535 Pleasant Grv Rd, Mount Juliet, TN, 37122-3798, US

At Home - Mt. Juliet, TN

Asset description

Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to offer the opportunity to acquire the fee-simple interest in an 89,051 square foot freestanding, single-tenant At Home retail property located at 535 Pleasant Grove Road in Mt. Juliet, TN (“Property” or “Asset”). Founded in 1979, At Home is a unique home décor concept that offers up to 45,000 home décor items for every household room.

The Asset is 100% leased to At Home Stores LLC (“At Home” or “Tenant”) with 10.8 years of remaining primary lease term, annual rent increases, four, five-year renewal options and a corporate guaranty. Initially constructed as a build-to-suit for the Tenant in 2019, the Tenant has a proven commitment to the site by signing a 15-year, absolute NNN lease with zero landlord responsibilities.

The Property is located just 13 miles from downtown Nashville, which was ranked 2022’s #1 Market for Real Estate Investment by ULI. Positioned at the northwest quadrant of Interstate 40 (80,000 VPD) and N Mt. Juliet Road (33,000 VPD), At Home is a part of The Paddocks at Mt. Juliet Shopping Center which is in the top 10% of shopping centers nationwide for annual visitors per Placer.ai. The Paddocks is also home to national retailers such as Walmart Supercenter, Lowe’s, Academy Sports + Outdoors and more. The Property’s location boasts exceptional demographics, with 81,000+ residents earning an average HH income of over $119,000 in the surrounding five-mile radius, and well above the national average.

This rare opportunity allows investors the ability to acquire an established retail asset with a passive, long-term and growing income stream and an opportunistic yield located in the Nashville MSA.


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Attributes

Building area net
7,994 sm
Occupancy
100%
Year built
2019
Land area net
3.18 ha
WAULT
10.8 years
Asking price
€13,961,000
Cap rate
7.25%

Media

Investment highlights

  • 2019 Build-to-Suit Construction in At Home's #1 Target Market for Strategic Gowth
  • 10.7+ Years of Term Remaining with Annual Rent Escalations
  • Shadow Anchored by Walmart, the largest supermarket chain in the world
  • $110K Average HH Income within a 3-Mile Radius
  • +81K Residents within a 5-Mile Radius
  • +$122K Average HH Income in 3-Mile Radius
  • 2.9M Annual Visitors at Adjacent Paddocks Shopping Center


At Home - Mt. Juliet, TN 4_Property for Sale
At Home - Mt. Juliet, TN 4_Property for Sale

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At Home - Mt. Juliet, TN (0 Properties)

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Last updated
Dec 19, 2023