OfficeOwned
Meridian Center
500 Meridian Ave, Nashville, TN
- Size
- 162,000 SF
- Year built
- 2018
- Acquired
- 01/31/24
- Basis
- $58.0M
- Fund
- Fund III
- Region
- Southeast
- Manager
- PropLake Commercial
- Accounting system
- MRI
T12 NOI
$3.5M
+2.2% vs prior T12
Occupancy
87.5%
As of Aug 2026 rent roll
NOI / SF
$21.88
Trailing 12 months
Yield on cost
6.11%
T12 NOI / purchase price
DSCR
1.39x
Above 1.20x covenant
Monthly NOI
Sep 25 to Aug 26Sep
Oct
Nov
Dec
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Debt
- Lender
- Bank OZK
- Balance
- $37,700,000
- Rate
- 6.75%
- Structure
- Interest only
- Maturity
- 02/01/27
- Annual debt service
- $2,544,750
- LTV on basis
- 65.0%
T12 income statement
PropLake standard chart of accounts · mapped from MRI| Revenue | ||
| 4010Rental Income | $6,489,511 | 12 bronze rows |
| 4020Other Income | $259,746 | 12 bronze rows |
| 4030Vacancy Loss | ($327,006) | 12 bronze rows |
| Total revenue | $6,422,251 | |
| Operating expenses | ||
| 5010Payroll | $577,113 | 12 bronze rows |
| 5020Repairs & Maintenance | $399,256 | 12 bronze rows |
| 5030Utilities | $345,290 | 12 bronze rows |
| 5040Property Taxes | $632,953 | 12 bronze rows |
| 5050Insurance | $230,167 | 12 bronze rows |
| 5060Management Fees | $287,046 | 12 bronze rows |
| 5070Marketing | $116,204 | 12 bronze rows |
| 5080General & Administrative | $289,982 | 12 bronze rows |
| Total operating expenses | $2,878,011 | |
| Net operating income | $3,544,240 | |
| Below NOI | ||
| 6010Interest Expense | $2,544,756 | 12 bronze rows |
| 6020Capital Expenditures | $180,923 | 12 bronze rows |
| Net cash flow | $818,561 | |