Listed by SURMOUNT
$130,000,000
JBJ 's Nashville
Details
Property Type Retail
Sub Type Bar, restaurant, music & event venue
Square Footage 36,767
Cap Rate 4.96%
NOI $6,443,525
Occupancy 100%
Tenancy Single
Brand/Tenant Jon Bon Jovi’s - Nashviille
Lease Type NNN
Lease Term 20
Remaining Term 20
Rent Bumps Yes
Lease Options Four, 10-Year
Year Built 2024
Acreage 0.160
Investment Type Sale/Leaseback
Ground Lease No
Ownership Fee Simple
Sale Condition Sale for leaseback
About This Property for Sale
Marketing description
Nashville’s iconic Lower Broadway continues to be a significant driver of the city's tourism and economy. In 2023, the area attracted a record-breaking 16.8 million visitors, marking a 4% increase from the previous year. These visitors contributed to an impressive $10.56 billion in consumer spending, underscoring Broadway's role as a central entertainment and hospitality destination. The consistent growth in both foot traffic and spending highlights Broadway's appeal and its importance to Nashville's vibrant tourism industry.
Investment highlights
- Twenty-Year Triple Net (NNN) Sale Leaseback | The lease is structured as a triple-net (NNN) lease. Meaning the tenant is responsible for covering all expenses - offering the landlord with a truly passive and predictable income stream.
- Brand New Development | Following two years of entitlements and site work, JBJ's Nashville—featuring prominent frontage on both Broadway and Fourth Avenue—marks the first ground-up development on Broadway since 2018.
- Celebrity-Backed Brand | Jon Bon Jovi is a partner in the Lower Broadway bar alongside a Nashville real estate firm. Bon Jovi has teamed up with Big Plan Holdings, which purchased the empty lot at 405 Broadway in November 2020, for the venue (the lot, at the intersection of Broadway and Fourth Avenue, sits between Nudie’s and what was formerly Merchants and is abutted by Losers).
- Outstanding Real Estate | This property benefits from exceptional real estate fundamentals, ideally located on Broadway which experiences roughly 15 million visitors each year. The property is within minutes of Nashville's largest event venues and attractions; Including the 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.
- Robust Urban Demographics | The area boasts 116,987 individuals residing within a three-mile radius of the subject property and 242,365 individuals residing within a five-mile radius of the subject property.
- Prime Location in Nashville’s Entertainment District | Located in the heart of Nashville's vibrant Broadway district, this property enjoys unparalleled visibility and foot traffic, making it an ideal destination for tourists and locals alike. Its proximity to world-famous bars, restaurants, and music venues guarantees continuous exposure and a constant flow of potential customers.
- Massive Population Growth | Between 2020 and 2024, the area within a one-mile radius of this property has seen a remarkable annual population growth of 14.1%, highlighting the rapidly expanding demand and increasing potential for business opportunities in this thriving city.
- Affluent Area | Within a 1-mile radius, the average household income exceeds $102,000, with 3- and 5-mile averages at exceeds $94,033, and $95,990, respectively.
Listing Contacts
Listed by SURMOUNT
Valuation Calculator
Login or Sign up to see Valuation Metrics
Sign up for Crexi to see valuation metrics for this property
Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$6,443,525.00
$536,960.42/mo
Valuation Metrics
0
DSCR
4.96%
Cap Rate
4.96%
ROI
Broker Selected Comps View More Comps
Property History
Similar Properties
Additional Information
Name
License
Brokerage
Title
Is there information that looks off?
