Shelbyville Square
Shelbyville, TN
| Price | $4,939,000 |
| Cap Rate | 7.50% |
| NOI | $370,381 |
| Lease Term | Various |
| Lease Type | Various |
| Rental Increases | Various |
| Year Built | 2018 |
| Building Size | 18,900 SF |
| Lot Size | 2.82 Acres (122,839 SF) |
| Status | Available |
| Lead Broker Information | Vince Aicale Executive Director 415.690.5522 vince.aicale@cushwake.com CA RE License #01728696 Ryan Forsyth Executive Director 415.413.3005 ryan.forsyth@cushwake.com CA RE License #01716551 Michael T. Yuras, CCIM Cushman & Wakefield 415.481.0788 michael.yuras@cushwake.com CA RE License #01823291 Scott Crowle Senior Director 415.604.4288 scott.crowle@cushwake.com CA RE License #01318288 |
Investment Highlights
100% LEASED MULTI-TENANT ASSET WITH STRONG MIX OF COMPLIMENTARY RETAILERS
» Long-term leases for all tenants with scheduled rental increases, providing a hedge against inflation
» Leased to well-known, “Amazon-proof” tenants with strong brand recognition
» Multi-tenant asset allows for investment diversification
» Petsense is a subsidiary of Tractor Supply Company (NASDAQ: “TSCO”)
HIGH-VISIBILITY LOCATION IN DENSELY POPULATED AND GROWING AREA
» High-visibility location along U.S. Route 231/North Main Street (23,557 AADT), a major north-south thoroughfare traversing the entirety of Shelbyville
» Beneficial proximity to multiple high-traffic Shelbyville thoroughfares, including U.S. Route 41/ Union Street (15,867 AADT), Colloredo Boulevard (10,237 AADT), and Fairfield Pike (8,940 AADT)
» 29,307 residents within a five-mile radius of the site, increasing traffic to the location
» Projected 10 percent AHI increase within five miles of the site in the next five years, poising Shelbyville Square for significant growth
» Within a four-mile radius of 13 apartment complexes, with suburban development continuing in the surrounding area
KROGER SHADOW ANCHORED CENTER NEAR LARGE EMPLOYERS, SCHOOLS, AND COMMUNITY HUBS
» Adjacent to a recently renovated Kroger promoting crossover shopping to Shelbyville Square
» Surrounded by several national retailers, including Walmart Supercenter, Lowe’s Home Improvement, Tractor Supply Company, Burger King, Subway, Popeyes, CVS Pharmacy, Walgreens, and many more
» Central location in the Bedford County School District (14 schools, 8,754 students), greatly increasing lunchtime traffic to the site
» Two miles from Calsonic Kansei North America (712 employees) and Tyson Foods Inc. (1,300 employees), the largest employer in Bedford County
» Common gateway to Nashville, the capital and most populous city in Tennessee (692,587 residents)
Property Description
The property has a high-visibility location along U.S. Route 231/North Main Street (23,557 AADT), a major north-south thoroughfare traversing the entirety of Shelbyville. The site benefits from its proximity to multiple high-traffic Shelbyville thoroughfares, including U.S. Route 41/Union Street (15,867 AADT), Colloredo Boulevard (10,237 AADT), and Fairfield Pike (8,940 AADT). Visibility is increased by the site’s location in a densely populated area, with 29,307 residents living within a five-mile radius of the property. The location is primed to grow along with the surrounding area, with a projected ten percent average annual household income increase within five miles of the property in the next five years. The location also resides within a four-mile radius of 13 apartment complexes, with suburban development continuing in the surrounding area.
The site benefits from its central location near large employers, schools, and community hubs. The property is neighbored by a recently renovated Kroger, promoting crossover shopping to Shelbyville Square. The location is surrounded by several national retailers, including Walmart Supercenter, Lowe’s Home Improvement, Tractor Supply Co., Burger King, Subway, Popeyes, CVS, Walgreens, and many more. The site is centrally located in the Bedford County School District (14 schools, 8,754 students), greatly increasing lunchtime traffic to the site. The location is also two miles from Calsonic Kansei North America (712 employees) and Tyson Foods Inc. (1,300 employees), the largest employer in Bedford County. Regional traffic to the site is increased by its proximity to Nashville, the capital and most populous city in Tennessee (692,587 residents).
