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600 Middleton Street

Taylor Preston's 600 Middleton LLC Acquires City Winery Nashville Property For $21M
SOLDRetail

Taylor Preston's 600 Middleton LLC Acquires City Winery Nashville Property For $21M

600 Middleton Street

$21,000,000

$807/SF

Building Size

26,000 SF

Asset Type

Retail

Closing

Dec 15, 2023

AI

The Pie Town property located at 600 Middleton Street in Nashville, TN has been sold for $21 million. The buyer, Taylor Preston, through his LLC 600 Middleton LLC, completed the purchase. The property is a retail asset spanning across 1.26 acres with a total square footage of 26,000. The sale price per square foot was $808.

Summary of transaction details

  • Property Type: Retail
  • Transaction Amount: $21,000,000
  • Address: 600 Middleton Street, Nashville, TN
  • Market: Nashville, TN
  • Acres: 1.26
  • Square Footage: 26,000
  • Buyer: Taylor Preston
  • Seller: City Winery Nashville LLC
  • Lender: First Commerce Bank
  • Price per Square Foot: $808

Local real estate investor Taylor Preston's LLC, 600 Middleton LLC, secured a $16 million loan from First Commerce Bank to complete the purchase of the Pie Town property. This transaction marks a significant milestone for Taylor Preston in expanding his real estate investment portfolio.

Players

First Commerce Bank
First Commerce BankLender

Nashville 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

0.76%

Cash-on-Cash

-0.22%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93