TN State Government Office
940 Upper Ferry Road, Carthage, Tennessee 37030, USA Map
Brand New Construction, Single Tenant "AAA" Credit Rated State Government Office
Listing Price $1,603,920
| Status | Active |
| Lease Type | Full Service |
| Property Type | Net Lease |
| CAP Rate | 7.00% |
| GLA (Sq. Ft.) | 6,500 |
| NOI | $112,274 |
| Lease Term Remaining | 7 Years |
| Options | Three (3), 1-Year |
| State (BOR) | TN |
| Broker of Record | Jody Mckibben |
| License # (BOR) | 307629 |
Investment Highlights
- Subject Asset Features a Brand New, Freestanding Building with 6,500 Square-Feet of Gross Leasable Area, Situated on a 0.96-Acre Lot, Constructed in 2022 | Includes 47 Total Parking Spaces, with 25 Spaces Secured by Fencing for Staff Use Only
- Tenant to Occupy Subject Property as of March 2022 | Seven-Year Original Lease Term Has Five Guaranteed Years Remaining and Three Options
- Investment-Grade Tenant is Guaranteed by the Tennessee State Government, with a Stable Credit Rating of Aaa from Moody’s and AAA from S&P 500
- High-Traffic Location Along Main Thoroughfare Upper Ferry Rd/Main Street North (7,300 VPD), Steps Away from the Intersection of TN-25/Carthage Bypass (11,470 VPD) and Route 70/Lebanon Highway (6,323 VPD) (Source: CoStar, 2020)
- Subject is Five Miles North of Interstate 40, the Third-Longest Interstate Highway in the Country, Connecting the East Coast (North Carolina) to the West Coast (California) | Nearby Traffic Counts Total Over 39,380 VPD (Source: CoStar, 2020)
- Subject is Located in the Heart of a Growing Corridor Between Downtown and South Carthage | Nearby Retailers Include: Dollar Tree, Walmart Supercenter, Sonic Drive-In, Verizon, Bank Tennessee, Advance Auto Parts, Domino’s and Do it Best Hardware
- Subject is Across the Street from the Smith County Chamber of Commerce | Less Than One Mile South of the Downtown Business Corridor Including the Post Office, County Transport Office, Board of Education and Resources, County Executive Office, and General Judge
- Two Miles North of Subject Property is Riverview Regional Medical Center, an Award-Winning, 43-Bed Critical Access Hospital With Emergency Services, the Only Hospital Within 45 Minutes of Carthage
- Subject is Located Only 55 Miles (1 Hour) East of Nashville, 35 Miles (1 Hour) South of the Kentucky State Line, and 135 Miles West (2 Hours) of Knoxville | 70% of the U.S. Population is Reachable in One Business Day’s Drive from Smith County
- Over 14,500 Households with an Average Household Income of Over $70,810 are Located Within 15 Miles of the Subject Asset, as of 2021 Estimates
- Major Area Industries for Employment Include Manufacturing, Mining, Construction, Education and Healthcare | Smith County Recently Invested in a 200-Acre Industrial Park Expansion with Added Rail Service
- Subject is Located in the Nashville Metro, the Largest in the State with a Population of Over Two Million | 2021 Reports Name Nashville as the Top-Rated U.S. Cities in Economic Growth, Low Unemployment, and Low Cost of Living, with No State Income Tax
Investment Overview
Similar Properties
No listings matched your search criteria. Please broaden your search and try again.