811-813 Wedgewood Ave - Freestanding FOR SALE


Nashville, TN 37203- Melrose-Waverly
$4,300,000 USD
629-206-3036
811-813 Wedgewood Ave, Nashville, TN for Sale
$4,300,000 USD
Freestanding - FOR SALE
1/7
null | 5.87% Cap Rate

811-813 Wedgewood Ave
Nashville, TN 37203
Melrose-Waverly


HIGHLIGHTS

  • Prime investment opportunity in the Wedgewood-Houston neighborhood, offering easy access to I-65/40/24 & seamless connectivity to Downtown Nashville.
  • 100% leased to Thrive Pet Healthcare, a national, established veterinary tenant with six years remaining on the lease and a 2% annual rent increase.
  • 811 Wedgewood Avenue has high visibility, with 87 feet of street frontage on Wedgewood Avenue and a daily traffic count of over 50,000 VPD.
  • Providing a hands-off, NNN investment opportunity, 811 Wedgewood Avenue offers a cash-flowing asset in a recession-resistant industry.

OVERVIEW

811 Wedgewood Avenue is a 7,400-square-foot, freestanding retail building in the Wedgewood-Houston neighborhood, also known as WeHo, located less than 1.5 miles from Downtown Nashville. Home to Thrive Pet Healthcare, a national, established veterinary tenant with over 10,000 employees and over 350 locations nationwide, 811 Wedgewood Avenue is an ideal property for investors, offering six years remaining on the lease, 2% annual rent increases, two five-year extension options, and a corporate guarantee. This property provides truly passive income, as Thrive operates under an absolute NNN lease. Renovated in 2015, the building was fitted with multiple roll-up garage doors, a new roof, new lighting, and updated interiors. Wedgewood-Houston is quickly becoming known as one of Nashville's up-and-coming mixed-use districts. WeHo has undergone an economic upswing with restaurants, bars, boutique shops, and studios establishing a presence in the district. The 811 Wedgewood Avenue location can't be beat, as it is close to Vanderbilt University and Belmont University, and GEODIS Park (a premier open-air stadium). It's less than a quarter-mile to Interstate 65, which connects directly to Interstates 40 and 24 and allows for easy access to downtown Nashville. Within a 2-mile radius, there is an affluent, thriving population of 71,118 individuals, an average annual household income of $103,175, and total consumer spending of $975.3 million, of which $25,968,650 is spent annually on pets. This is a one-of-a-kind opportunity for a hands-off investor to expand their portfolio and acquire 811 Wedgewood Avenue, a cash-flowing asset within a recession-resistant industry.

FOR SALE DETAILS

PRICE

$4,300,000 USD

PRICE/SF

$581 USD /SF

CAP RATE

5.87%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Thrive Pet Care

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

ADD'L SUBTYPES

Veterinarian/Kennel

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1960

SPRINKLERS

-

PARKING SPACES

28

LAND DETAILS

LAND ACRES

0.36 AC

LAND SF

15,682 SF

ZONING

CS

APN/PARCEL ID

105-10-0-175

ASK ABOUT THIS PROPERTY

Michael DunnCBREMore Info
629-206-3036

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Michael DunnCBREMore Info
629-206-3036

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