1907 N Meridian St - Storefront FOR SALE


Greenfield, TN 38230
$1,300,000 USD
949-412-1616
1907 N Meridian St, Greenfield, TN for Sale
$1,300,000 USD
Storefront - FOR SALE
1/4
null | 4.62% Cap Rate

1907 N Meridian St
Greenfield, TN 38230


HIGHLIGHTS

  • McDonald's Corporate lease - BBB+ S&P Credit / Long Term NNN Lease
  • Value-Add retail investment with significant leasing upside for the adjacent vacant shop space
  • Strategic hard corner location - situated on a 1.26 acre signalized corner parcel
  • Established retail corridor serving Greenfield - with immediate proximity to Greenfield High School
  • Stable regional economy & employment base - More than 10,900 employees and over 900 businesses support the regional economy
  • Affordable basis with repositioning potential - Offered at approximately $154 PSF, substantially below recent McDonalds comparable sales pricing

OVERVIEW

Tennessee Broker of Record: Jonathon Aur / License No.: 265379 Faris Lee Investments & Jones Aur Commercial Real Estate is pleased to present the opportunity to acquire a value-add retail investment anchored by McDonald’s, the world’s leading quick-service restaurant brand, located along the primary commercial corridor in Greenfield, Tennessee. The 8,445-square-foot retail strip center consists of a 3,627-square-foot McDonald’s with drive-thru operating under a long-term NNN lease and 4,818 square feet of adjacent vacancy, providing investors with a clearly defined leaseup opportunity. Current in-place NOI of approximately $60,000 has the potential to increase to approximately $146,724 upon stabilization, creating significant upside through the leasing of the vacant suites while benefiting from the stability of an investment-grade anchor tenant. Positioned on a 1.26-acre signalized hard corner with excellent visibility, multiple points of ingress and egress, and ample parking, the property is surrounded by established national retailers including Shell, Casey’s, Sonic, and Subway, reinforcing its position within Greenfield’s dominant retail corridor. The offering provides investors with an attractive basis at approximately $154 per square foot and multiple avenues for value creation through strategic lease-up at projected market rents. Upon stabilization, the property is expected to support a diversified rent roll, stronger cash flow, and enhanced long-term value while maintaining the security of McDonald’s as the anchor tenant. Investors also benefit from the flexibility to continue long-term ownership for stable income or pursue disposition as a fully leased retail investment following execution of the business plan. The property serves a regional trade area of approximately 47,880 residents within a 15-mile radius and is supported by more than 19,500 households, over 900 businesses, and nearly 11,000 employees. Nearby employers, including the University of Tennessee at Martin, Parker Hannifin, Plastic products Company, and Akin & Porter Produce, contribute to a stable economic base and consistent consumer demand. Combining dependable in-place income, meaningful leasing upside, a strategic hard-corner location, and multiple exit strategies, this offering presents a compelling opportunity to acquire a retail asset with both immediate cash flow and significant long-term value creation potential.

FOR SALE DETAILS

PRICE

$1,300,000 USD

PRICE/SF

$163 USD /SF

CAP RATE

4.62%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

McDonalds Anchored NNN Leased Investment

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront

ADD'L SUBTYPES

Fast Food, Freestanding, Restaurant

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2018

SPRINKLERS

-

PARKING SPACES

21

LAND DETAILS

LAND ACRES

1.26 AC

LAND SF

54,886 SF

ZONING

C

APN/PARCEL ID

155E-D-007.02

ASK ABOUT THIS PROPERTY

Jeff ConoverFaris Lee InvestmentsMore Info
949-412-1616

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Jeff ConoverFaris Lee InvestmentsMore Info
949-412-1616

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.