Thorntons - Nashville, TN
3475 Dickerson Pike, Nashville, TN, 37207, US
€4,428,000 | 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 2035 Southeast Broad Street in Murfreesboro, Tennessee (“Property” or “Asset”). Pinnacle is operating on 15-year absolute NNN lease with ±12.3 years of primary lease term remaining, 1.9% annual rent escalations, two, five-year renewal options and zero landlord responsibilities.
Located 30 miles southeast of downtown Nashville, Pinnacle is positioned at the signalized intersection of SE Broad Street and S Rutherford Blvd with direct visibility to more than 37,000 vehicles per day.
Since the 1990s, Murfreesboro has been Tennessee's fastest-growing major city and one of the fastest-growing cities in the country.
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Attributes
Asking price
€1,541,000
Cap rate
5.25%
NOI
€82,000
WAULT
12.3 years
Building area net
290 sm
Land area gross
0.36 ha
Media
Investment highlights
- Operating on an absolute NNN lease with ±12.3 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)
- Murfreesboro is Tennessee's fastest-growing major city
- Strong demand characteristics driven by 1-mile AHHI of $95K
- Outparcel to Publix anchored shopping center with 1.0 million visits annually
- Low rent of $91K
- Signalized intersection with direct visibility to 37,000 VPD
Contact brokers
Pinnacle Bank - Murfreesboro, TN (Broad St) (0 Properties)
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Last updated
May 5, 2025
