Portland, TN 37148,421 N Broadway
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Portland, TN 37148,421 N Broadway
Portland, TN 37148,421 N Broadway
Portland, TN 37148,421 N Broadway
Portland, TN 37148,421 N Broadway
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Jurnee Gillette

Jurnee Gillette

+1(931) 624-9296
Listed by Tanner Smith • Compass RE
$ 1,200,000
Est. payment /mo
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Active

421 N Broadway Portland, TN 37148

5,100 SqFt

UPDATED:

Key Details

Property Type Commercial

Sub Type Office

Listing Status Active

Purchase Type For Sale

Square Footage 5,100 sqft

Price per Sqft $235

MLS Listing ID 2922762

Year Built 1948

Lot Size 0.830 Acres

Acres 0.83

Property Sub-Type Office

Property Description

This property presents a unique chance 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, providing 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) through December 31st, 2031, 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 an NOI of approximately $80,900, supporting a strong 6.7% cap rate with minimal landlord obligations. Investment strategy: There is an assumable loan on this property of around $570,000 amortized over 20 years at a 6% interest rate, with a 10 year balloon and around 8.5 years remaining. With just over 50% down, one can assume the note and purchase the property with no bank involvement. Originally built in 1948 and updated for modern healthcare operations in 2024, 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 investment is ideal for buyers seeking stable medical tenancy, low management requirements, and long-term growth potential in a high-demand Middle Tennessee market.

Location

State TN

County Sumner County

Zoning C

Interior

Fireplace N

Others

Special Listing Condition Standard

RealTracs IDX
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NEARBY SCHOOL & BUSINESS

SCHOOLSPROPERTIES
Elementary Schools 5
  • 7

    Portland Gateview Elementary School

    Public | KG - 5

  • 7

    J W Wiseman Elementary School

    Public | PK - 5

  • 6

    Watt Hardison Elementary School

    Public | KG - 5

  • 6

    Clyde Riggs Elementary School

    Public | KG - 5

  • 0

    Portland Montessori Academy

    Private | PK - 6

Middle Schools 2
  • 6

    Portland West Middle School

    Public | 6 - 8

  • 6

    Portland East Middle School

    Public | 6 - 8

High Schools 1
  • 4

    Portland High School

    Public | 9 - 12

School and business data provided by Attom Data.
Jurnee Gillette

Jurnee Gillette

Broker

+1(931) 624-9296

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421 N Broadway