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NCT LLC Acquires Office Building From Rocketown For $7M In Antioch Transaction

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SOLD
$7,000,000

Tennessee

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Office44,150 SF
Sold 05/17/2024
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Property Image
SOLD

NCT LLC Acquires Office Building From Rocketown For $7M In Antioch Transaction

5255 Hickory Hollow Parkway

See Similar Deals
Office44,150 SF
Sold 05/17/2024
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Summary

TENNESSEE
Asset Type:Office
Price Per Square Foot:$158
Total Square Footage:44,150 SF
Transaction Type:Sale

An office building spanning 44,150 square feet located at 5255 Hickory Hollow Parkway in Antioch, TN, was sold for $7,000,000. NCT LLC acquired the property from Rocketown. The transaction was facilitated by Sheri Ma from MM Realty & Management representing the buyer, and Ben Claybaker & Brandon Hoop from NAI Capital representing the seller.

Summary of transaction details:

NAI Nashville Stanton Group played a key role in brokering the deal. The office building, previously operated by Rocketown of Middle Tennessee as a live concert venue and skate park, changed ownership in this $7 million transaction. The involvement of the buyer's representative, Sheri Ma, from MM Realty & Management, together with the seller's representatives, Ben Claybaker and Brandon Hoop from NAI Capital, ensured a successful sale.

Players

Ben Claybaker
1 deal$7M volume(615) 495-4004
BROKER

Brandon Hoop
NAI Global
1 deal$7M volume(615) 246-7549
BROKER

Sheri Ma
MM Realty & Management
1 deal$7M volume(484) 716-4758
BROKER

Details

SOLD
IMAGE: 05/17/2024 ADDRESS: 5255 Hickory Hollow Parkway MARKET: Antioch, TN ASSET TYPE: Office BUYER: NCT LLC SELLER: Rocketown BUYER'S REP: Sheri Ma - MM Realty & Management SELLER'S REP: Ben Claybaker & Brandon Hoop - NAI Capital SALE PRICE: $7,000,000 SF: 44,150 ~ PPSF: $159 NOTE: NAI Nashville Stanton Group brokered the $7 million sale of a 44,150-square-foot office building at 5255 Hickory Hollow Parkway in Antioch. NCT LLC purchased the property from Rocketown of Middle Tennessee, which had operated it as a live concert venue and skate park.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$373,333.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$24,869.54
Cash-on-Cash Return-1.27%
Monthly Debt Service$33,183.57
Annual Debt Service$398,202.85