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USATNPortland421 N Broadway
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421 N Broadway, Portland, TN

Real Estate

For Sale

Listed price in listed location currency (USD).
$1,200,000

000

MLS® 2922762

  • Key Facts
  • Description
  • Map

Key Facts

Type Office
Levels Commercial Sale
Size -
Garage No
Maintenance Fees 
Taxes 
Days Active 203
Approx. Age 1948
MLS® Number 2922762

Property Address: 421 N Broadway, Portland, TN, 37148-1750

Average square foot calculated using Size range provided by listing agent.

Description

This property presents a unique chance to acquire a fully stabilized, income-producing medical investment in the heart of Portland, Tennessee—one of Middle Tennessee’s fastest-growing communities. The ±0.82-acre parcel includes a ±5, 000 SF medical office building and a ±938 SF tenant-occupied residential home, providing diversified income across three tenants and two asset types. At closing, the property will be secured by a new 5-year NNN leaseback with Firefly Health ($5, 000/month) through December 31st, 2031, and an existing lease with NuLife Physical Therapy ($1, 700/month MG) through September 30, 2029, alongside a residential lease at $1, 000/month. Combined, the asset generates $92, 400 in annual rental income with an NOI of approximately $80, 900, supporting a strong 6.7% cap rate with minimal landlord obligations. Investment strategy: There is an assumable loan on this property of around $570, 000 amortized over 20 years at a 6% interest rate, with a 10 year balloon and around 8.5 years remaining. With just over 50% down, one can assume the note and purchase the property with no bank involvement. Originally built in 1948 and updated for modern healthcare operations in 2024, the medical office is well-maintained with established tenancy and immediate in-place cash flow. The property is located just 45 minutes north of Nashville in rapidly growing Sumner County, an area experiencing sustained demand for both healthcare and housing. This investment is ideal for buyers seeking stable medical tenancy, low management requirements, and long-term growth potential in a high-demand Middle Tennessee market.
MLS® Number2922762
Locker
Ensuite LaundryNo
Balcony
Furnished
Laundry Level
Exposure
Exterior
GarageNo
Approx. Age1948
Stories
Pets

Included in Maintenance Fee

Heat
Hydro
Water
Building Insurance
Condo Taxes
Cable TV
Central Air
Parking Maintenance

Utilities

Heat
A/C
Heating Fuel

Extras

Similar Listings

Price History

-End Date
Not Sold YetSold Price

For Sale

Jun 24, 2025List Date
$1,200,000List Price
  • Commute

Commute

Starting Address
Destination Address
421 N Broadway, Portland, TN

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