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
About this deal
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
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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