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1024 Woodland Street

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

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

Millennium Bank
Millennium BankLender

Arenas Valley Retail Market Snapshot

Boundary boundary · Retail · Sale transactions

Loading comparables…

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