The Tightest Retail Vacancy In the Southeast. By Far.
"4.8% retail vacancy. In a market with 20 million annual visitors. With Oracle and Amazon adding thousands of high-income employees. With zero state income tax pulling corporate headquarters from Chicago, New York, and California. Nashville retail is not a complicated story — it is a simple one. More people are spending more money in Nashville than the existing retail inventory can accommodate. The cap rates at 6.2% reflect the fact that most national capital allocators are still thinking about Nashville as a secondary market. That perception is ending. I have watched this same mispricing correct in Austin, in DFW, and in Houston over thirty years. Nashville is next."
Stephen Crittenden · Owner, Crittenden Company · 15+ Years Commercial Real Estate
Nashville retail operates on three demand engines that virtually no other inland U.S. city can replicate simultaneously. Engine 1: Tourism — 20M visitors/year spending $8B+ in the Nashville economy, generating the most concentrated restaurant, entertainment, and retail foot traffic of any non-coastal U.S. city its size. Engine 2: Tech/Healthcare professional class — Oracle's 5,000+ employees, HCA Healthcare's 25,000+, and a growing financial services cluster earning $120,000–$250,000 and spending at premium retail levels. Engine 3: Relocation migration — the most nationally aspirational relocation destination in the Southeast, attracting high-earning Chicago, New York, and California households who upgrade their retail spending upon arrival.
Oracle Tech Workforce Growth
+5K
Tourism Visitor Spend
+6%
Brentwood / Cool Springs HHs
+5%
East Nashville Population
+8%
Downtown Office Vacancy
15%
🎵
Broadway Is America's Hottest Retail Street
The Broadway honky-tonk district is the most densely trafficked pedestrian retail environment in the Southeast United States — rivaling Bourbon Street in New Orleans for foot traffic density. Food, beverage, entertainment, and souvenir retail on Broadway operates at effectively 100% occupancy year-round with extraordinary sales-per-SF driven entirely by tourist spending. No other inland market generates this concentrated tourist retail demand.
🏥
HCA Premium Consumer
HCA Healthcare employs 25,000+ workers in the Nashville metro — concentrated in Brentwood/Franklin where HCA's headquarters anchors a healthcare corporate campus cluster. HCA executives, physicians, and healthcare professionals represent one of the most stable high-income consumer cohorts in any Sun Belt market — sustaining premium grocery, restaurant, and lifestyle retail regardless of tech sector hiring cycles.
🏛
Downtown Hybrid Headwind
Nashville's downtown office vacancy at approximately 15% reduces weekday foot traffic on traditional office corridors. However, Nashville downtown's tourist economy partially offsets this — Broadway and the SoBro entertainment district sustain foot traffic from tourists even when office workers are absent. This tourism buffer means Nashville's downtown retail is more resilient to hybrid work than comparable-vacancy downtown markets in other cities.
03 / 14
Infrastructure — Confirmed & Proposed
Oracle Campus & BNA Expansion Are Nashville's Most Powerful Retail Catalysts
✅ Confirmed Projects
Oracle East Nashville Campus — $1.2B+
Oracle's 5M SF East Nashville campus — built in the mixed-use district east of the Cumberland River — employs 5,000+ workers in Oracle's cloud and enterprise software divisions. The campus is actively expanding with additional phases planned. The surrounding East Nashville retail market has been transformed by Oracle's employment concentration — national restaurant and retail brands are entering East Nashville for the first time specifically to serve the Oracle workforce demographic.
Operational + ExpandingEast Nashville
BNA Airport $1.8B Expansion
Nashville International Airport's $1.8B expansion is the largest public construction project in Tennessee history. BNA is adding terminal capacity, a new concourse, and significantly expanded retail/F&B offerings within the terminal. The expansion will increase Nashville's air capacity by 40%+ — bringing more high-spending business and leisure travelers to the Nashville retail market. Each new direct route opening generates measurable retail spending increases in Nashville's tourism corridors.
Under ConstructionAirport / Opryland
Nissan Stadium Redevelopment
The $2.1B new Nissan Stadium — replacing the existing structure with a modern domed facility — will significantly increase Nashville's event capacity and entertainment district foot traffic. Stadium-adjacent retail, hospitality, and mixed-use development is following the stadium investment, creating new retail trade area formation on the east bank of the Cumberland River adjacent to the Oracle campus and the growing East Nashville residential base.
Under ConstructionDowntown / East Nashville
💬 Proposed / In Development
Five Points East Nashville Expansion
The Five Points area of East Nashville — adjacent to the Oracle campus — is experiencing the most active mixed-use retail development in Nashville. Independent restaurants, boutique retail, fitness studios, and creative service concepts are opening at an accelerating rate as the Oracle workforce discovers the neighborhood. This is Nashville's equivalent of Austin's East 6th Street — emerging fast, with limited competing supply and above-market rent growth.
Active DevelopmentEast Nashville
Cool Springs Town Center Expansion
The Cool Springs / Brentwood suburban retail core is evaluating mixed-use expansion around the Cool Springs Galleria and Thoroughbred Center. HCA and Nissan North America employee density in this corridor sustains premium retail demand that multiple national concepts are evaluating for new market entry. A mixed-use retail expansion adjacent to the existing lifestyle center would catalyze additional food, fitness, and specialty retail demand.
In StudyCool Springs / Brentwood
Nashville SC / MLS Stadium District
Nashville SC's new MLS soccer stadium in the North Gulch area is generating mixed-use retail and entertainment development in the stadium adjacency. Stadium districts reliably generate food, beverage, and experiential retail demand. The North Gulch location — adjacent to the existing Gulch neighborhood — will create additional retail density in what is already Nashville's most active urban retail corridor.
Under DevelopmentNorth Gulch
04 / 14
Traffic Patterns & Cap Rate History
Traffic Shifts & Cap Rate Trajectory
Traffic Changes YoY — Key Corridors
East Nashville / Oracle Corridor
+22%
Broadway / Downtown Tourism
+14%
Cool Springs / Brentwood
+8%
Green Hills / Hillsboro Village
+6%
Downtown CBD (Non-Tourist)
-6%
Cap Rate History — Last 12 Months
Nashville Retail Cap Rate Trend (Avg)
Q2 2025Q3 2025Q4 2025Q2 2026
12-Month Cap Rate Forecast
Nashville retail cap rates projected to compress toward 5.6%–5.8% over the next 12 months as national institutional capital increases Nashville allocation. East Nashville Oracle corridor and Green Hills luxury already trading at 5.0%–5.5%. Broadway tourism retail trades at 4.5%–5.0% as the unique tourist revenue premium commands the tightest pricing in the market.
05 / 14
Investment Metrics
Average Price Per SF By Retail Product Type
Product Type
Price/SF Range
Cap Rate
Trend
Notes
Broadway / Tourist Entertainment
$500 – $900+
4.25% – 5.0%
▲ Tourism premium
Highest foot traffic per SF in SE U.S.
Green Hills / Luxury
$420 – $680
4.75% – 5.5%
▲ Compressing fast
Nashville's premier luxury corridor
Single Tenant NNN (Investment Grade)
$360 – $520
5.0% – 5.75%
▲ Active
Chick-fil-A, CVS, Walgreens
Grocery-Anchored Center
$280 – $440
5.5% – 6.25%
▲ Premium
Kroger, Publix, Whole Foods
East Nashville / Emerging
$280 – $440
5.25% – 6.0%
▲ Fastest appreciation
Oracle workforce premium; limited supply
Neighborhood Strip Center
$200 – $320
6.0% – 7.0%
▲ Value-add opportunity
Suburban growth corridors
Nashville Market Average
$298
6.2%
▲ Appreciating
CoStar Q2 2026 Estimate
Broadway / Tourist
$700+
Green Hills Premium
$550
Investment Grade NNN
$440
East Nashville
$360
Grocery-Anchored
$360
Nashville Average
$298
Neighborhood Strip
$260
East Nashville Emerging Premium
East Nashville strip centers and pad sites adjacent to the Oracle campus have appreciated 25–40% since Oracle's announced relocation in 2022 — the most dramatic retail price appreciation of any Nashville submarket in the past 3 years. The combination of Oracle workers, new stadium development, and Five Points neighborhood gentrification is creating a demand premium that is still underpriced relative to where this corridor will trade in 3 years.
06 / 14
Submarket Analysis
Average Lease Rates By Submarket
Submarket
Avg Rate/SF/Yr
Vacancy
Leasing Activity
Broadway / Downtown (Tourist)
$48 – $80+
2.4%
▲ Extremely High
Green Hills / Hillsboro Village
$40 – $62
3.2%
▲ Very High
East Nashville / 5 Points
$32 – $52
3.6%
▲ Very High / Growing
Cool Springs / Brentwood
$28 – $44
4.4%
▲ Active
Midtown / Music Row
$28 – $42
4.8%
▲ Active
Murfreesboro (Suburban)
$20 – $32
5.4%
▲ Growing
Nashville Market Average
$26.40
4.8%
▲ Active
Downtown (Non-Tourist)
$24 – $38
8.6%
▼ Softening
Most Active Leasing Submarkets
East Nashville / Oracle
★★★
Broadway / Downtown
★★★
Green Hills
★★★
Cool Springs / Brentwood
★★
Midtown / Music Row
★★
Downtown (Office-Dep.)
★
Kroger / Publix / Whole Foods Premium
Nashville's three dominant grocery anchors — Kroger, Publix, and Whole Foods (Amazon-owned) — each generate significant co-tenancy demand from national retailers seeking adjacency. Kroger anchors dominate suburban Nashville; Publix has expanded its Tennessee footprint aggressively since entering the market; Whole Foods sustains premium co-tenancy demand in Green Hills and East Nashville. Grocery anchor presence is the most reliable leading indicator of retail center performance in the Nashville metro.
07 / 14
Tenant Activity — Last 12 Months
Notable Openings, Expansions And Vacating Tenants
▲ Expanding & Opening
National Restaurant / F&B Surge
National restaurant concepts are opening Nashville locations at the fastest rate in the city's history — driven by the combination of 20M annual tourists, Oracle/Amazon tech workforce, and the highest-profile media coverage of any U.S. city outside of New York and LA. James Beard-nominated chefs, celebrity-chef fast casual concepts, and established national chains are all competing for Nashville locations simultaneously — validating the market at the highest level of national F&B recognition.
SurgeMetro-Wide
Luxury — Green Hills & 12 South
Green Hills remains Nashville's unquestioned luxury retail capital — anchored by Nordstrom and a curated mix of national and international luxury brands seeking their Tennessee flagship. The 12 South neighborhood adjacent to Green Hills has evolved from a residential enclave into one of the most photographed boutique retail corridors in America — Instagrammed constantly by the bachelorette parties, corporate relocators, and lifestyle travelers who drive Nashville's brand.
ActiveGreen Hills / 12 South
East Nashville National Discovery
East Nashville — previously known primarily to locals and music industry insiders — is now actively being evaluated by every national restaurant and boutique retail concept that has followed Oracle's campus announcement. The Five Points, Eastland Ave, and Gallatin Pike corridors are experiencing the fastest rent growth in Nashville as national concepts compete for the limited available space in what is now one of America's most nationally recognized emerging urban neighborhoods.
EmergingEast Nashville
▼ Watch Areas
Softgoods Contraction
National apparel chains are reducing Nashville footprints — particularly at Opry Mills and Hickory Hollow — as e-commerce pressure intensifies. Enclosed mall softgoods are the weakest retail format in the Nashville market. Opry Mills benefits from tourist traffic that sustains performance above comparable suburban malls; Hickory Hollow faces more structural challenges. Avoid softgoods-dependent enclosed mall inline without a clear experiential repositioning plan.
ContractingEnclosed Malls
Non-Tourist Downtown Retail
Downtown retail corridors not adjacent to Broadway's tourist district — particularly Church Street, 2nd Avenue away from the tourist core, and portions of the Gulch away from the entertainment district — face reduced weekday foot traffic from hybrid work. The tourist economy sustains Broadway-adjacent retail year-round, but office-dependent retail in the broader downtown core has not recovered to pre-pandemic levels and faces an uncertain path without office recovery.
Vacancy RisingStructural Shift
Overexposure to Tourism Concentration
The Broadway tourist corridor — while generating extraordinary sales-per-SF today — carries concentration risk if Nashville's tourism brand weakens or visitor numbers decline. A significant reduction in tourism could materially affect the Broadway and SoBro corridor. Diversify Nashville retail acquisitions across tourism-driven, corporate-employment-driven, and residential-density-driven submarkets to balance this concentration risk.
Risk FactorDiversify
08 / 14
Vacancy Analysis
Where Vacancy Is Tightening And Where It Is Rising
Tightening Vacancy
Broadway / Tourist District
2.4%
Green Hills
3.2%
East Nashville
3.6%
Nashville Market Average
4.8%
Rising Vacancy
Downtown (Non-Tourist)
8.6%
Softgoods Enclosed Mall
10.4%
✅
Why Broadway Is Permanently Tight
The Broadway honky-tonk district operates at effectively 100% occupancy year-round — virtually no vacancy even during the seasonal slow periods that affect other tourist destinations. Nashville's status as the #1 bachelorette party destination in America, combined with its convention economy, country music heritage, and growing national F&B destination recognition, ensures year-round tourist traffic that absorbs any available space within weeks of vacancy.
📊
Tightest SE Retail Market
Nashville's 4.8% retail vacancy is the tightest of any major market covered in this report — below Phoenix (5.8%), Houston (5.8%), San Antonio (5.4%), and Dallas (5.2%). The tourism floor, Oracle employment, and no-state-income-tax migration combine to generate retail demand that consistently exceeds supply — a structural condition that has persisted through economic cycles and pandemic disruption alike.
⚠
Downtown Non-Tourist Risk
Nashville's downtown retail split is stark: Broadway and the entertainment district at near-zero vacancy; traditional office-adjacent downtown retail at 8.6%+ vacancy. The tourist economy does not sustain office-corridor retail formats. Church Street, 2nd Avenue upper floors, and the Gulch's office-dependent inline retail face the same structural headwinds as every other U.S. CBD with 15%+ office vacancy. Avoid unless converting to entertainment or hospitality uses.
09 / 14
Opportunity Identification
Value-Add & Development Submarkets to Watch Now
★
East Nashville — Highest Conviction
3.6% vacancy and 22% traffic growth. Oracle workers filling the neighborhood. National F&B and boutique concepts discovering Five Points for the first time. Strip centers and pad sites at $280–$440/SF with 5.25%–6.0% cap rates — the fastest-appreciating retail submarket in Nashville. Treat this like Austin's East 6th Street circa 2018. The Oracle campus is not going anywhere, and the national discovery of East Nashville retail is just beginning.
Buy NowOracle Premium
🌴
Green Hills — Core Luxury Hold
3.2% vacancy, Nashville's highest-income residential base, Nordstrom anchor, and the most aspirational luxury retail environment in the state. Strip and pad acquisitions at $420–$680/SF at 4.75%–5.5% cap rates. The Tennessee luxury market gravitates to Green Hills — no competing corridor can replicate the income density of the Green Hills/Belle Meade/Belle Meade residential catchment. Best for long-term core income hold with luxury brand protection.
Core HoldLuxury Income
🏠
Murfreesboro / I-24 — Suburban Growth
Nissan manufacturing workforce plus Amazon distribution workers create a blue-collar consumer base that is underserved by existing retail in the Murfreesboro corridor. Grocery-anchored strip centers at $180–$260/SF with 6.5%–7.5% cap rates offer the best value-add yield in the Nashville metro. Murfreesboro is growing at 6% annually — rooftops are adding retail demand faster than the existing supply base can accommodate.
Value-AddManufacturing Workforce
🏛
Brentwood / Cool Springs — HCA Corridor
HCA Healthcare campus + Nissan North America HQ + luxury residential = the most stable suburban retail income in Tennessee. Cool Springs Galleria-adjacent strip and pad at $260–$380/SF with 5.75%–6.5% cap rates offers core suburban income with healthcare employer protection. Below-market in-place rents on Class B suburban strip centers in this corridor reset significantly at renewal.
Core-PlusHealthcare Workforce
🏗
Nissan Stadium / East Bank TOD
The new stadium development on the East Bank of the Cumberland — combined with Oracle's campus and the Nashville SC soccer stadium — is creating a new mixed-use retail trade area in what was previously underutilized industrial land. Early movers on ground-floor retail in TOD projects adjacent to the stadium development will capture above-market first-generation lease rates as the residential density builds around the sports and entertainment anchor.
EmergingLong-Term TOD
⚠
Avoid: Non-Tourist Downtown Office Retail
Office-dependent retail on Church Street, upper 2nd Avenue, and portions of the Gulch away from the entertainment district faces structural vacancy from 15% downtown office vacancy. Without a clear entertainment or hospitality conversion strategy, these assets will continue to underperform. The tourist economy that sustains Broadway does not extend meaningfully beyond the immediate entertainment corridor.
AvoidUnless Converting
10 / 14
12-Month Forecast
June 2026 — May 2027 What the Data Predicts
Metric
Current
12-Month Forecast
Direction
Marketwide Vacancy
4.8%
4.2% – 4.6%
▲ Tightening
Broadway / Green Hills
2.4%–3.2%
2.0% – 3.0%
▶ Permanently Tight
Avg Asking Rent
$26.40/SF
$27.60 – $29.20/SF
▲ Growing
Rent Growth Rate
5.2% YoY
5% – 7%
▶ Sustained / Accelerating
Avg Cap Rate
6.2%
5.6% – 5.8%
▲ Compressing
Avg Price Per SF
$298
$318 – $338
▲ Appreciating
Tourism Traffic
20M+/yr
21M+/yr
▲ Growing
Oracle Workforce Absorption
Active
Very Active
▲ Accelerating
▶ Structural Rent Growth
Nashville's three-engine retail demand — tourism, tech workforce, and relocation migration — provides a structural growth floor unlike any other inland U.S. market. Rent growth of 5%–7% will compound for the foreseeable future as Oracle's campus ramps, BNA expansion brings more visitors, and the lifestyle brand continues attracting high-income relocators from coastal markets.
▲ Fastest Cap Rate Compression Nationally
Nashville retail at 6.2% — on the tightest major market vacancy in the Southeast and with the strongest national brand visibility of any inland market — is the most obvious mispricing in U.S. retail right now. As national institutional capital reallocates from coastal retail to Nashville, compression toward 5.6%–5.8% over 12 months will produce 6–10% appreciation on top of 5%–7% rent growth. East Nashville and Green Hills compress below 5.0% first.
⚠ Tourism Concentration Risk
Nashville's tourism economy is a strength and a concentration risk simultaneously. A significant reduction in Nashville's national brand relevance — unlikely but worth underwriting — would disproportionately affect Broadway and SoBro corridor retail. Diversify acquisition exposure across the Oracle employment, HCA healthcare, and suburban growth segments to avoid single-driver concentration. Three engines are better insurance than one.
Broadway honky-tonks frequently operate on percentage lease structures where base rent is modest but landlords participate in a percentage of gross sales — often 8–12% of total revenue for high-volume bars generating $10M–$25M annually. A percentage lease on a high-volume Broadway location can generate effective rents of $80–$150+/SF annually — far above any base rent in Nashville retail. These leases are rarely marketed publicly; they are secured through direct relationships with Broadway property owners.
Submarket
Base/SF
NNN Add
All-In/SF
Broadway / Tourist
$48–$80+
$5–$8
$53–$88+
Green Hills / 12 South
$40–$62
$5–$7
$45–$69
East Nashville
$32–$52
$4–$6
$36–$58
Cool Springs / Brentwood
$28–$44
$4–$6
$32–$50
Midtown / Music Row
$28–$42
$4–$6
$32–$48
Murfreesboro
$20–$32
$3–$5
$23–$37
Nashville Average
$26.40
$4–$6
$30–$32
Tennessee Advantage: Lower NNN Expenses
Tennessee's relatively lower property tax rates compared to Texas (no homestead exemption complexity) and lower insurance costs in the mid-South translate to NNN expense additions of $4–$7/SF — somewhat below Texas border market equivalents. For tenants, this means lower total occupancy costs; for landlords, it means higher net income retention relative to gross rent.
12 / 14
Retail Financing Environment — Q2 2026
Financing Terms Nashville Retail Market
Loan Type
Rate Range
LTV
DSCR Req.
Term
CMBS (Investment Grade NNN)
5.75%–6.25%
65%–70%
1.25x
5–10 yr fixed
SBA 504 (Owner-Occupied)
5.5%–6.0%
Up to 90%
1.25x
25 yr amort
Conventional Bank (Strip)
6.25%–7.25%
65%–75%
1.20x–1.25x
3–7 yr fixed
Life Company (Stabilized)
5.5%–6.0%
55%–65%
1.30x
10–15 yr fixed
Bridge / Value-Add
7.25%–9.0%
65%–75%
1.10x
2–3 yr floating
Positive Leverage at Market Average; Premium Corridors Negative
Nashville's 6.2% average cap rate creates positive leverage on suburban strips, grocery-anchored centers, and mid-market acquisitions at conventional bank rates. Green Hills (4.75%), Broadway (4.25%), and East Nashville premium (5.25%) trades are in negative leverage — these are rent-growth and appreciation plays. Run DSCR analysis for every acquisition. The high-end corridors require 20%+ equity and rent-growth underwriting, not income investing.
Nashville Lender Landscape
Major National Platforms Active
Pinnacle Financial Partners (Nashville-based, nationally significant), Avenue Bank / Reliant Bank, and all major national platforms (JPMorgan, Wells Fargo, CMBS) are active in Nashville retail. Pinnacle's Nashville headquarters gives it unmatched local market knowledge and competitive terms for well-stabilized retail transactions.
Grocery-Anchored — Premium Terms
Kroger, Publix, and Whole Foods anchor leases qualify for life company and CMBS at the lowest market rates. Nashville grocery anchors are lender-favored nationwide — the Tennessee market is viewed as stable, growing, and institutionally liquid. Best terms available for well-structured grocery-anchored center acquisitions.
East Nashville — Local Banks Key
East Nashville's emerging market dynamic requires lenders who understand the Oracle campus absorption thesis. Pinnacle and Avenue Bank lead here. National platforms with Nashville offices are developing East Nashville expertise as the Oracle story becomes mainstream — but for 2026 acquisitions, local relationships provide faster approval and more flexible underwriting.
Broadway / Tourist — Specialized
Broadway percentage-lease properties require specialized lenders who understand tourist-driven retail revenue cycles. Not all lenders are comfortable underwriting percentage-lease structures. Pinnacle and select CMBS platforms with entertainment district experience are the best options. Expect lower LTV (55–60%) on percentage-lease structures with annual revenue volatility.
13 / 14
Brokerage Landscape — Nashville Retail
Who Controls Leasing In Each Nashville Submarket
Firm
Specialty
Primary Submarkets
Known For
CBRE Nashville
Investment sales, leasing, tenant rep
Nashville-wide; institutional
Largest platform in Nashville. Dominant in Green Hills, Cool Springs, and institutional investment sales metro-wide. Strongest national buyer access for premium Nashville retail. Most active institutional broker in the market.
JLL Nashville
Investment sales, leasing, tenant rep
Metro-wide; lifestyle centers
Global platform with strong Nashville presence. Active in lifestyle center and grocery-anchored leasing and investment sales. Strong tenant rep for national retailers expanding in Nashville.
Cushman & Wakefield Nashville
Investment sales, leasing
Metro-wide institutional
Global platform. Active in large institutional investment sales and major retail center leasing. Strong relationships with national and international capital sources.
Colliers Nashville
Investment, leasing, management
Metro-wide; suburban
Strong Nashville presence with deep local relationships. Active across suburban strip center investment sales and leasing. Good coverage of Murfreesboro, Brentwood, and outer suburban growth corridors.
Brookside Properties
Development, leasing, management
East Nashville; emerging
Nashville-based boutique developer with specific East Nashville expertise and some of the most active relationships in the Oracle campus retail adjacency market. Best source for off-market East Nashville retail deals.
Marcus & Millichap / Matthews
NNN investment sales
Metro-wide NNN
National NNN platforms with active Nashville coverage. Both maintain national buyer networks for 1031 exchange capital from high-tax states (CA, NY, IL) targeting Nashville's no-state-income-tax retail market.
Submarket Broker Focus
Green Hills / 12 South / Luxury
CBRE dominates Green Hills institutional investment sales. JLL active in major center leasing. Local boutique brokers handle many off-market 12 South transactions. Premium Nordstrom-adjacent pad sites rarely reach the public market.
East Nashville / Oracle
Brookside Properties leads East Nashville development and off-market deals. CBRE and Colliers active in institutional East Nashville investment sales. Build a relationship with Brookside before attempting to buy in this corridor.
Cool Springs / Brentwood / Suburban
CBRE and JLL lead institutional leasing. Colliers active in suburban strip investment sales. Cushman handles large center transactions. Grocery anchor relationships (Kroger, Publix) are managed through Weitzman's Tennessee platform.
NNN Investment Sales — Metro Wide
Marcus & Millichap and Matthews RE Investment Services lead NNN volume with national 1031 buyer access. Nashville NNN at 5.5%–6.5% cap rates consistently attracts out-of-state capital from Illinois, New York, and California — all high-income-tax states where Nashville's no-tax advantage amplifies yield premium.
Source
CBRE Nashville Q2 2026 Retail Report · CoStar Group Q2 2026 · JLL Nashville 2026 Outlook · Colliers Nashville Retail 2026 · Nashville Area Chamber of Commerce · June 2026
14 / 14
Crittenden Company · Research Services
Nashville Retail. The Country Never Stops.
4.8% vacancy — the tightest in the Southeast. 20 million annual visitors. Oracle and HCA as permanent employment anchors. No state income tax. And a national brand that makes investors discover Nashville regardless of the economic cycle.