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3rd Circle LLC Acquires Former 3 Crow Bar Site In East Nashville For $5.2M

Property Image
SOLD
$5,200,000

Tennessee

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Retail
Sold 09/15/2023
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Property Image
SOLD

3rd Circle LLC Acquires Former 3 Crow Bar Site In East Nashville For $5.2M

1024 Woodland Street

See Similar Deals
Retail
Sold 09/15/2023
the dealplayerscompscontact
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Summary

TENNESSEE
Asset Type:Retail
Transaction Type:Sale

3rd Circle LLC, associated with the owners of Germantown's Bud & Brews, has acquired the former site of 3 Crow Bar in East Nashville for a total purchase price of $5.2 million. The property is located at 1024 Woodland Street and is classified as a retail asset. The transaction was supported by a $4.1 million loan from Millennium Bank.

Summary of transation details

  • Property Type: Retail
  • Transaction Amount: $5,200,000
  • Buyer: 3rd Circle LLC
  • Lender: Millennium Bank
  • Address: 1024 Woodland Street, Nashville, TN

3rd Circle LLC, the buyer in this transaction, is linked to the owners of Germantown's Bud & Brews. The acquisition of the former 3 Crow Bar location in East Nashville signifies their expansion into a new area. With the support of a $4.1 million loan from Millennium Bank, the buyer was able to secure the property for its intended use. This deal highlights the strategic growth plans of 3rd Circle LLC and demonstrates the continued activity in the Nashville retail market.

Players

Millennium Bank
Millennium Bank
LENDER

Details

SOLD
IMAGE: 09/15/2023 ADDRESS: 1024 Woodland Street MARKET: Nashville, TN ASSET TYPE: Retail BUYER: 3rd Circle LLC LENDER: Millennium Bank SALE PRICE: $5,200,000 NOTE: 3rd Circle LLC, associated with the owners of Germantown's Bud & Brews, has acquired an East Nashville site that formerly housed 3 Crow Bar for $5.2 million, supported by a $4.1 million loan from Millennium Bank.

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

$277,333.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$18,474.52
Cash-on-Cash Return-1.27%
Monthly Debt Service$24,650.65
Annual Debt Service$295,807.83