Wise, VA - Taco Bell

Description:

SRS National Net Lease Group is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN, franchisee guaranteed, Taco Bell investment property located in Wise, Virginia. The tenant, Tacala Tennessee Corp., recently signed a brand new 25-year lease with 5 (5-year) options to extend, demonstrating their commitment to the site. The lease features an annual 1% rental increases throughout the initial term and option periods, 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 newly constructed building features state of the design design and high quality materials.

The Taco Bell is located along U.S. Highway 23, which averages 22,000 vehicles passing by daily and is a major retail thoroughfare serving the city of Wise. The asset is complete with a drive-thru, providing ease and convenience for customers. On average, stores with drive-thrus experience higher sales than those without. The Taco Bell is an outparcel to a Lowe’s Home Improvement anchored center that also features a variety of national/credit tenants. In addition, the asset is across the highway from Ridge View Shopping Center, a 224,000 square foot Big Lots! anchored center with other notable tenants such as Ashley Home Furniture, Tractor Supply Co, and more. Furthermore, the property is in the center of a primary retail corridor with other nearby national/credit tenants including a Walmart Supercenter, Marshalls, Hibbett Sports, Dollar Tree, Food City, and more, further increasing consumer traffic to the site. The 5-mile trade area is supported by a population of over 14,100 residents and over 10,000 employees. Residents within a 1-mile radius have an average household income of $71,606.