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28910834
28910835

459 N Broadway, Portland, TN 37148

BP
TN TN 483221, TN 362676
Wally Gilliam Realty & Auction
Listed by Wally Gilliam Realty & Auction
$965,000
178 days on market
Updated 31 days ago
Opportunity zone

457, 459, 461 and 465 N Broadway Portland TN 37148

Details
Property Type Mixed Use, Office (+2)
Sub Type Convenience Store, Grocery Store (+1)
Square Footage 57,063
Net Rentable (SqFt) 10,400
Units 56
Cap Rate 9.33%
NOI $90,000
Occupancy 100%
Price per SqFt $17
Year Built 1986
Year Renovated 2025
Buildings 5
Acreage 1.310
Zoning General Commercail
Investment Type Stabilized
Ground Lease No
Sale Condition For sale by owner

Mixed Use | 9.33% CAP | 57,063 SqFt

Marketing description

The property is located along a major corridor for Portland, Tennessee known as HWY 109 and referred to as N Broadway, and is used by many travelers to avoid Nashville, a cut through from Interstate 65 to Interstate 40 East. The annual average daily traffic nearby along HWY 109 North is 13,000/ day per TDOT. The property has +/- 250 linear feet of road frontage. The tax map parcel at 461 N Broadway is 0.84 acres and the parcel at 457 N Broadway is 0.47 acres. The two parcels will need to be sold together and will not separate. The two parcels include +/-6,000 square feet of mini storage, +/-2,000 additional square feet of retail rental space, and an additional +/-2,400 square feet concrete slab metal building, that is used for restaurant storage currently, but would work well for a car lot as previously used, or a construction building, and has roughly +/-400 square feet of attached office space. The business at the physical address 457 N Broadway is “Bed, Bark and Beyond Grooming and Boarding” and is approximately 1,350 square feet of retail space generating ($1,100/ month). The business at 459 N Broadway is “Jalisco Market” roughly 650 square feet of retail space ($700/month). The businesses at 457 and 459 make up the southwest building with a separation interior wall between the independent businesses. The business at 461 N Broadway is “Tacos Mi Jalisco” food truck and restaurant roughly 2,400 square feet metal building with two 14x14 overhead doors on north and south entrances including a 400 square feet office space ($3,320/ month). Lastly, the business at 465 N Broadway is 56 door, 6,000 square feet +/- of mini storage warehouse “Portland Tennessee Storage” generating between ($3,500-$4,500/ month).

457 N Broadway lease ends October 31, 2026 ($1,100/month)

459 N Broadway lease ends July 31st, 2026 ($700/ month)

461 N Broadway lease end July 31st, 2026 ($3,320/month)

465 N Broadway is Portland Tennessee Storage and averaged ($42,000 YTD in December, 2025) ($3,500/month)

Gross income totaling +/- $8,620/ month dependent on mini storage income. Square feet totals are +/-10,400 sq. ft. in five separate buildings. Property upgrades include 3-year-old metal roofs on all five buildings (+/- $45,000). 457 N Broadway received (+/- $30,000) interior reconstruction in January 2025.

Owner/operator is the listing agent and has been managing this asset since May of 2021. Information provided by listing agent/owner needs to be verified by the prospective buyer. All information is intended to be factual, but should not be perceived as guaranteed and accurate. Tenants located on this property should not be approached or interfered. Please direct all inquiries to the listing agent, Ben Patton 615.714.8296. Buyer to confirm accuracy and due diligence.

Listing Contacts

BP
TN TN 483221, TN 362676
Wally Gilliam Realty & Auction
Listed by Wally Gilliam Realty & Auction

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Loan Amount
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Annual Debt Service
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Annual Cash Flow
$90,000.00
$7,500.00/mo

Valuation Metrics

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DSCR
9.33%
Cap Rate
9.33%
ROI

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Additional Information

Name
Ben Patton
License
TN 483221
Brokerage
Wally Gilliam Realty and Auction
Title
Real Estate Broker
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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