114 N Church St, Waverly, TN 37185 For Sale

114 N. Church Street, Waverly, Tennessee 37185 - Multi-Tenant Commercial Property Invest in the bustling heart of downtown Waverly with this fully leased multi-tenant commercial building. The property boasts a solid income stream from three long-term commercial tenants and a storage unit. With two anchor tenants locked into 10-year leases, this investment provides remarkable income stability, complete with annual CPI-adjusted escalations ensuring inflation protection. The meticulously structured leases offer rising income potential, with Suite A set to ramp up monthly rates in 2026 and both anchor tenants set for regular escalations ahead. Featuring a current stabilized NOI of around $33,200/year and a promising cap rate of 6.3%, this property offers a lucrative investment opportunity with no lease-up risk. Benefit from a secure income stream from day one and capitalize on the property's poised income growth. Don't miss this chance to own a fully leased and stabilized asset in a prime location. Mini-splits were added throughout the main building in 2020, and the roof was resurfaced on the main building in 2020 and is under warranty. A warehouse behind the main building offers 1,800 sqft of additional space.