Hendersonville, TN - Moon Valley Nurseries

Description:

SRS National Net Lease is pleased to offer the opportunity to acquire the leased fee interest (land ownership) in an absolute NNN leased, Moon Valley Nursery investment property located in Hendersonville, Tennessee (Nashville MSA). The tenant recently signed a brand new 10-year lease with 2 (5-year) options to extend, demonstrating their commitment to the site. The lease features a 10% rental increase in year 6 of the initial term and at the beginning of each option period, steadily growing NOI and hedging against inflation. The lease is absolute NNN with zero landlord responsibilities making it an ideal, management-free investment opportunity for a passive investor. Founded in Phoenix, Arizona in 1995, Moon Valley Nurseries is the largest fully-integrated nursery and box tree grower in the United States, now operating 19 farms and 48 retail locations across Arizona, California, Nevada, Florida, Tennessee and Texas, with more than 5,000 acres of nursery property.

The Moon Valley Nursery is located right off of State Highway 386, which averages over 64,600 vehicles passing by daily. The property is located on Saundersville Rd, a major retail thoroughfare serving the city of Hendersonville. The property is located within 2 miles of one of the largest shopping areas in the city, which features a 200,000+ square foot Walmart Supercenter, a 100,000+ square foot Home Depot, The Streets of Indian Lake shopping mall, and many more. The property is in the center of a primary retail corridor with other nearby national/credit tenants including a Costco Wholesale, Sam’s Club, Target, Hobby Lobby, Kroger, Lowe’s Home Improvement, Texas Roadhouse, First Watch, Chase Bank, and more, further increasing consumer traffic to the site. The 5-mile trade area is supported by a population of over 88,400, while the 1-mile trade area has an affluent average household income of $158,940.