421 N Broadway - Medical FOR SALE


Portland, TN 37148
$1,400,000 USD
615-487-2100
421 N Broadway, Portland, TN for Sale
$1,400,000 USD
Medical - FOR SALE
1/36
null | 6% Cap Rate

421 N Broadway
Portland, TN 37148


HIGHLIGHTS

  • New 5-Year NNN Leaseback with Firefly Health
  • NuLife Physical Therapy Leased Through 9/30/2029
  • Fully Stabilized with Three Income Streams
  • Attractive Opportunity for 1031 Exchange Buyers or Passive Investors

OVERVIEW

421 N Broadway offers a rare opportunity 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, delivering 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, 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 is an ideal investment for buyers seeking durable medical tenancy, minimal management, and long-term upside in a high-growth Middle Tennessee market.

FOR SALE DETAILS

PRICE

$1,400,000 USD

PRICE/SF

$278 USD /SF

CAP RATE

6%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Office

PROPERTY SUBTYPE

Medical

ADD'L SUBTYPES

Office/Residential

TOTAL BUILDING SIZE

-

STORIES

1

BUILDING CLASS

C

YEAR BUILT

1948

SPRINKLERS

-

PARKING SPACES

14

LAND DETAILS

LAND ACRES

0.74 AC

LAND SF

32,234 SF

ZONING

CS

APN/PARCEL ID

033A-B-015.00,033A-B-020.01

ASK ABOUT THIS PROPERTY

Jamie BrandenburgCompassMore Info
615-487-2100

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Jamie BrandenburgCompassMore Info
615-487-2100

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