Tuesday, May 3rd, 2022 May3rd2022

Sold Alert: South Nashville Retail Center Sold for $125/SF

Published on May 3rd, 2022

Sold Alerts provide commercial property owners with valuable, hard-to-get comparable sale information.

 

 

  • 991 Thompson Place is a two-building retail center on 3.15 acres.
  • The center has a non-traditional anchor tenant in Baraka Wholesale as well as other ethnic tenants.
  • Constructed in 1986, the buildings total 28,837 SF.
  • Arguably under-parked for retail uses at 2.42/1,000 SF.
  • Located just off Murfreesboro Pike behind Santorini Greek Restaurant and Mapco.
  • The property last sold for $2,100,000 in 2005.
  • The asking price was $4,500,000.
  • The property sold for a 7.17% cap rate.
  • The property just sold for $3,600,000…the equivalent of $125/SF of land.

 

 


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About Beau Beach, MBA CCIM

Beau is a battle-tested Commercial Real Estate Broker, entrepreneur and adoring father of four. His clients appreciate his no-nonsense demeanor and his legendary work ethic.

Beau leads Beachwood which is a nationwide commercial real estate brokerage for sellers…with emphasis in Nashville and the Southeast.

He’s earned the revered “CCIM” designation which is awarded to the top 6% of all commercial real estate brokers.

He’s the author of the books The 3 Reasons: Why Most Commercial Properties Don’t Sell and True Wealth: What Every Seller Should Know About 1031 Exchanges.

Beau can be reached at 800-721-3287, click to schedule a call or Beau@soldbybeachwood.com