408 Broadway - Storefront FOR SALE


Nashville, TN 37203- The District
$58,823,529 USD
332-345-4222
408 Broadway, Nashville, TN for Sale
$58,823,529 USD
Storefront - FOR SALE
1/2
null | 4.25% Cap Rate

408 Broadway
Nashville, TN 37203
The District


HIGHLIGHTS

  • This long-term NNN Investment provides a stable 20-year sale leaseback in one of Downtown Nashville’s most iconic locations.
  • The tenant’s four (4), five (5)-Year renewal options provide exceptional stability to a new owner.
  • With a going in NOI of $2,500,000 this exceptional property provides a cash-flowing and highly dependable investment.
  • The property receives exposure to more than 15 million visitors each year, providing access to an immense customer base.

OVERVIEW

The NNN Pro Group is pleased to present the Lucky Bastard Saloon, an iconic and trophy location on Broadway in the heart of downtown Nashville. The subject property is a four-story, 15,608-square-foot building with an eye-catching masonry façade. This cash-flowing investment is subject to an absolute, triple-net lease with 20 years of term commencing at close of escrow with four (4), five-year option periods. The base rent will be $2,500,000, with 2% annual increases starting year one. This restaurant/bar benefits from exceptional real estate fundamentals, ideally located on Broadway which experiences roughly 15 million visitors each year. The property is within minutes from Nashville’s largest Event Venues and attractions, Including Nashville Convention Center, Bridgestone Arena, Home to NHL’s Nashville Predators, the 1.2-million-square-foot Music City Center, Nissan Stadium, Ryman Auditorium and Country Music Hall of Fame. Lucky Bastard Saloon boasted massive EBTIDA and revenues in 2023 and will continue to show extremely healthy EBITDAR coverage going forward.

FOR SALE DETAILS

PRICE

$58,823,529 USD

PRICE/SF

$3,769 USD /SF

CAP RATE

4.25%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Lucky Bastard Saloon

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront

TOTAL BUILDING SIZE

-

STORIES

4

YEAR BUILT

1900

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.36 AC

LAND SF

15,682 SF

ZONING

CF

APN/PARCEL ID

093-06-3-080

ASK ABOUT THIS PROPERTY

Glen KunofskyNNN Pro GroupMore Info
332-345-4222

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

Glen KunofskyNNN Pro GroupMore Info
332-345-4222

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