Dandridge, TN - Firehouse Subs

Description:

SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN leased, Firehouse investment property located in Dandridge, Tennessee. The tenant recently signed a new, 15-year lease with 2 (5-year) options to extend, demonstrating their commitment to the site. The lease features 10% rental increases every 5-years throughout 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.

The Firehouse is located near the signalized, hard corner intersection of State Highway 92 and Interstate 40 combining to average 91,700 vehicles passing by daily. State Highway 92, is a major retail thoroughfare serving the city of Dandridge. The Firehouse is located adjacent to an Advance Auto Part, Taco Bell, Bojangles, Arby’s and other national/credit tenants. The asset is located within 1-mile from a 25,000+ square foot Food Lion, attached to a Sonic Drive-In pad. The asset is located less than 1-mile from Douglas Lake, The lake is a popular recreational destination attracting over 1.7 million visitors annually The property is in the center of a primary retail corridor with other nearby national/credit tenants including a Goodwill, Dollar General, Wendy’s, Waffle House, Valvoline, DG Market, and more, further increasing consumer traffic to the site. The 5-mile trade area is supported by a population of over 17,629 and 3,987 employees with an average household income of $93,262.