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
Nashville 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
0.76%
Cash-on-Cash
-0.22%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93