Overview

Description

SRS National Net Lease Group is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in the Shoppes of East Brainerd, a NNN leased, freestanding, recently constructed, 100% leased retail center located in Chattanooga, Tennessee. The offering features a strong food and service-based tenant lineup of Starbucks, Crumble Cookies, Pure Nail Spa, Pacific Dental, and PT Solutions Physical Therapy (currently dark but still paying rent). The tenants operate under leases that are NNN in nature, limiting expense leakage for a future investor. Tenants constituting 52% of GLA and 53% of Rental Revenue have more than seven years remaining on their initial lease terms. Additionally, Starbucks is equipped with an end-cap drive-thru lane, which provides ease and convenience for customers. Excess 1 acre undeveloped land behind the shopping center is available and zoned C-2 (Convenience Commercial) for future development. Owner to retain or consider market price offers contact agent for pricing.

The subject property is strategically located along E. Brainerd Road/State Highway 320, averaging 27,800 vehicles per day. In addition, the property is close to the on/off ramps to Interstate 75 (130,200 VPD), providing direct access to and from downtown Chattanooga. The property benefits from excellent visibility via a large monument sign and significant street frontage facing E. Brainerd Road. Moreover, the asset is ideally adjacent to a Walmart Neighborhood Market, significantly increasing consumer draw to the immediate trade area and promoting crossover store exposure for the property. Furthermore, the subject property is within close proximity to multiple apartment complexes, including The Reserve at Creekside (192 units), Hidden Creek (300 units), and Monarch Apartment Homes (192 units), providing a direct residential consumer base to draw from. The 5-mile trade area is supported by nearly 100,000 residents and 67,000 employees. The average household income is more than $109,000 in a 1-mile radius.

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