3rd Circle LLC Acquires Former 3 Crow Bar Site In East Nashville For $5.2M
1024 Woodland Street
$5,200,000
Building Size
—
Asset Type
Retail
Closing
Sep 15, 2023
AI
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
Arenas Valley Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
3.05%
Cash-on-Cash
-0.87%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93