Thorntons - Nashville, TN
3475 Dickerson Pike, Nashville, TN, 37207, US
€4,401,000 | 409 sm
Asset description
Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to offer the opportunity to acquire the fee simple Pinnacle Financial Partners located at 524 South Main Street in Ashland City, Tennessee (“Property” or “Asset”). Pinnacle is operating on 15-year absolute NNN lease with ±12.5 years of primary lease term remaining, 1.9% annual rent escalations, two, five-year renewal options and zero landlord responsibilities.
Located 30 minutes north of Nashville, Pinnacle is positioned on the hard corner of South Main Street (Tennessee State Route 12) and Lowe Street with easy access to more than 15,000 vehicles per day. As the county seat of Cheatham County, Ashland City has a population of about 5,000 residents and is part of the rapidly growing Nashville Metropolitan Statistical Area.
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Attributes
Asking price
€3,533,000
Cap rate
5.25%
NOI
€186,000
WAULT
12.5 years
Building area net
669 sm
Land area gross
0.4 ha
Media
Investment highlights
- Operating on an absolute NNN lease with ±12.5 years of lease term remaining and 1.9% annual rent escalations
- Pinnacle Financial Partners is the 2nd largest bank holding company in TN with an investment grade rating (Moody's: Baa2)
- Exceptional $243M in deposits and the only Pinnacle Bank location in Cheatham County
- Adjacent to A.O. Smith Water Heating, the world's largest water heater factory
- Strong demand characteristics driven by 5-mile AHHI of $94K
- Hard corner location with access to 15K VPD
- 16.8% retail rent growth in Ashland City since 2022
Contact brokers
Pinnacle Bank - Ashland City, TN (0 Properties)
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Last updated
May 1, 2025
