Highpoint Family Wellness | Single-Tenant Medical Investment
For sale2118 Cowan Hwy, Winchester, TN 37398
Property type
Retail
Price
$1,395,253
Building size
8,000 sf
Rentable area
8,000 SF
Year built
1998
Year renovated
Occupancy
Zoning code
Lot size
1.45 Acres
CAP
7.50%
Price per SF
$174.41
Property description
Franklin Street is pleased to offer 2118 Cowan Hwy, an 8,000-square-foot medical office property situated on 1.45 acres in Winchester, TN. The property is 100% occupied by Southern Tennessee Primary Care, operating under Ascension Saint Thomas, and has been in practice since 2016. The tenancy is affiliated with Lifepoint Health through Southern Tennessee Medical Group, providing investors with an established healthcare operator and an essential-service use. The property provides a $108,382 of current NOI and a low-maintenance single-tenant investment profile. Three remaining five-year renewal options, each accompanied by contractual rental escalations, provide additional income visibility and the potential for long-term cash-flow growth. The property is positioned within an established medical and daily-needs retail environment, with Chevrolet-GMC, Starbucks, Shell, TJ Maxx, Ross, Five Below, and more prominent operators in the surrounding trade area. The Cowan Highway corridor features complementary healthcare users including Pinnacle Dermatology, Results Physiotherapy and Southern Tennessee Spine & Pain, reinforcing the area's concentration of medical services. Municipal planning records show a Winchester Mixed-Use Development on Cowan Highway planned next to the Food City development sold in May 2026. These investments are expected to further strengthen the surrounding commercial ecosystem and support continued traffic and service demand along the corridor. For investors seeking durable healthcare exposure, 2118 Cowan Hwy offers the combination of established tenancy, renewal optionality, essential-service use, complementary medical users and continued commercial investment within one of Winchester's most active commercial nodes.
Property highlights
- Established Medical Tenancy: 8,000 SF single-tenant medical office on 1.45 acres, 100% occupied by Southern Tennessee Primary Care since 2016.
- Strong Healthcare Affiliation: Operates as Highpoint Family Wellness – Winchester with Ascension Saint Thomas and is affiliated with Lifepoint Health through Southern Tennessee Medical Group.
- Long-Term Income: Three remaining five-year renewal options with rental escalations at the start of each renewal term provide durable income visibility.
- Strategic Medical Location: Located on Cowan Highway (US-41A), a primary commercial corridor with approximately 18,000 VPD and less than one mile from the 131-bed Winchester hospital campus.
- Strong Trade Area: 34,882 residents within 10 miles with $90,130 average household income, supported by Winchester's role as Franklin County's healthcare, government and retail hub.