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Listed by Tanner Smith • Compass RE
$1,400,000
Est. payment /mo
5,100 SqFt
New
421 N Broadway Portland, TN 37148
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Key Details
Property Type Commercial
Sub Type Office
Listing Status Active
Purchase Type For Sale
Square Footage 5,100 sqft
Price per Sqft $274
MLS Listing ID 2922762
Year Built 1948
Lot Size 0.830 Acres
Acres 0.83
Property Sub-Type Office
Property Description
This property presents a unique chance to acquire a fully stabilized, income-producing medical investment in the heart of Portland, Tennessee—one of Middle Tennessee's fastest-growing communities. The ±0.82-acre parcel includes a ±5,000 SF medical office building and a ±938 SF tenant-occupied residential home, providing diversified income across three tenants and two asset types. At closing, the property will be secured by a new 5-year NNN leaseback with Firefly Health ($5,000/month) and an existing lease with NuLife Physical Therapy ($1,700/month MG) through September 30, 2029, alongside a residential lease at $1,000/month. Combined, the asset generates $92,400 in annual rental income with a NOI of $83,400, supporting a strong 6.0% cap rate with minimal landlord obligations. Originally built in 1948 and updated for modern healthcare operations in 2024, the medical office is well-maintained with established tenancy and immediate in-place cash flow. The property is located just 45 minutes north of Nashville in rapidly growing Sumner County, an area experiencing sustained demand for both healthcare and housing. This investment is ideal for buyers seeking stable medical tenancy, low management requirements, and long-term growth potential in a high-demand Middle Tennessee market.
Location
State TN
County Sumner County
Zoning C
Interior
Fireplace N
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