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1004 Gallatin Ave 2,400 SF Retail Building Nashville, TN 37206 $2,177,550 CAD ($907.31 CAD/SF) 5.48% Cap Rate
Investment Highlights
- Corporate-Guaranteed National Tenant: Buffalo Exchange, a 40+ unit national resale-apparel chain, guarantees the lease at the corporate level
- High-Traffic Infill Corridor: Gallatin Ave. carries over 25,000 vehicles per day at the property, with nearby arterials seeing up to ~55,000 VPD
- East Nashville is experiencing rising discretionary spending power, increasing tenant demand, fast lease-up, and consistent rent growth
- Rent Growth Tailwind: Submarket asking retail rents rose 5.8% year-over-year
- Strong, Growing Trade Area with a median household income of $104,121 within one mile and population and household growth both projected above 6%
Executive Summary
EXECUTIVE SUMMARY: This offering presents a rare opportunity to acquire a single-tenant net-leased retail investment on the Gallatin Avenue corridor in Nashville, TN. The + 2,400 SF freestanding building with a + 3,500 SF outdoor patio sits on a + 9,148 SF (0.21 AC) infill parcel and is 100% leased to Buffalo Exchange, a national resale-apparel retailer, under a corporate-guaranteed NNN lease. With five (5) years remaining on the primary term, in a low vacancy submarket, this asset offers a durable, low-management income stream backed by a national credit tenant who sought out this location in a rapidly growing and appreciating area.
ABOUT THE TENANT: Founded in 1974 in Tucson, Arizona, by Kerstin and Spencer Block, Buffalo Exchange pioneered the resale fashion industry, buying, selling and trading clothing and accessories for over 50 years. The company operates more than 40 stores nationally, remains privately held and family-run, with Kerstin's daughter, Rebecca Block, continuing to run the company as CEO. The buy-sell-trade model sources inventory locally, so each store reflects its neighborhood's fashion and culture, driving loyal, largely Gen Z/millennial foot traffic.
ABOUT THE TENANT: Founded in 1974 in Tucson, Arizona, by Kerstin and Spencer Block, Buffalo Exchange pioneered the resale fashion industry, buying, selling and trading clothing and accessories for over 50 years. The company operates more than 40 stores nationally, remains privately held and family-run, with Kerstin's daughter, Rebecca Block, continuing to run the company as CEO. The buy-sell-trade model sources inventory locally, so each store reflects its neighborhood's fashion and culture, driving loyal, largely Gen Z/millennial foot traffic.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Freestanding
Building Size
2,400 SF
Building Class
C
Year Built
1961
Price
$2,177,550 CAD
Price Per SF
$907.31 CAD
Cap Rate
5.48%
NOI
$119,405 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.26
Lot Size
0.21 AC
Zoning
MUG - MUG zoning is intended to support a moderately high intensity mix of restaurant, retail, and office uses.
Parking
9 Spaces (3.75 Spaces per 1,000 SF Leased)
Frontage
50’ on Gallatin Ave
Amenities
- Signage
Moderately walkable
60/100
Exceptionally drivable
100/100
Some public transit
40/100
Fairly bikeable
50/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 083-01-0-158 | Improvements Assessment | $90,925 CAD |
| Land Assessment | $466,262 CAD | Total Assessment | $557,187 CAD |
Property Taxes
Parcel Number
083-01-0-158
Land Assessment
$466,262 CAD
Improvements Assessment
$90,925 CAD
Total Assessment
$557,187 CAD
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1004 Gallatin Ave
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