Sold Alerts provide commercial property owners with valuable, hard-to-get comparable sale information.
- 1661 Mallory Lane in the Cool Springs area of Brentwood is a multi-tenant office building.
- Built in 1973 and substantially renovated in 2020, the one-story 7,400 SF building sits on an oversized 1.23 acre lot.
- Tenants at time of sale included Pivotal Touch Healing, Miraki Skin Therapy, Mobile Chef, Raintree Transplant, Sympson & Associates and Healthy Glow Spray Tans.
- The transaction was financed by BancorpSouth Bank at 3.09% interest for 30 years.
- The property last sold in 2019 for $1,450,000.
- The asking cap rate was 5.66%. The sold cap rate was 5.8%.
- The asking price was $3,300,000.
- The property just sold for $3,000,000…the equivalent of $405/SF.
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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@BeachwoodSells.com