Thorntons - Nashville, TN
3475 Dickerson Pike, Nashville, TN, 37207, US
THB 163,380,000 | 409 m²
Asset Description
Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to offer the opportunity to acquire the fee simple Pinnacle Financial Partners located at 69 South Lowry Street in Smyrna, 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.
Situated in the heart of Tennessee just 20 miles southeast of downtown Nashville, Smyrna is the largest suburban town in Tennessee by population (54,000). Pinnacle is positioned along the primary throughfare in the area along South Lowry Street with direct visibility to 26,000 vehicles per day, just a few miles from Interstate 24.
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Attributes
Asking price
THB 84,467,000
Cap rate
5.25%
NOI
THB 4,440,000
WAULT
12.3 years
Building area net
430 m²
Land area gross
0.43 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)
- Smyrna is the largest town in TN by population with recent 2.5% growth (2022-23)
- Strong demand characteristics driven by 5-mile AHHI of $94K
- Adjacent to 101 Depot Apartments with 308 units
- Positioned along primary throughfare with direct visibility to 37K VPD
Contact brokers
Pinnacle Bank - Smyrna, TN (Lowry St) (0 Properties)
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Last updated
5 May 2025
