MJM Real Estate Investments Acquires Midtown Nashville Office Building For $4.14M
342 22nd Avenue North
$4,140,000
$394/SF
Building Size
10,500 SF
Asset Type
Office
Closing
Sep 21, 2023
About this deal
AI
An LLC linked to MJM Real Estate Investments has purchased a 0.6-acre site in Midtown Nashville. The site consists of a one-story office building with a total area of 10,500 square feet. The transaction took place at a sale price of $4.14 million, resulting in a price per square foot of $394.
Summary of transation details
- Property Type: Office
- Transaction Amount: $4,140,000
- Address: 342 22nd Avenue North, Nashville, TN
- Market: Nashville, TN
William Acree, the seller, facilitated the sale of the property to MJM Real Estate Investments. The office building, located in Midtown Nashville, offers a strategic location for businesses. With its 10,500 square feet of space, the property provides ample room for offices and workspaces. The sale price of $4.14 million highlights the value and potential of this prime real estate asset in Nashville.
Players
Clinton Office Market Snapshot
Boundary boundary · Office · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
3.83%
Cash-on-Cash
-1.10%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93