Murfreesboro, TN - Buffalo Wild Wings

Description:

SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in a NNN, corporate guaranteed, Buffalo Wild Wings investment property located in Murfreesboro, Tennessee (Nashville MSA). The tenant, Blazin Wings, Inc., has 7-years remaining on its lease with 4 (5-year) options to extend. 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 next rental increase will occur in February 2027. The lease is NNN with limited landlord responsibilities making it an ideal, low-management investment opportunity for a passive investor. Blazin Wings, Inc., is a subsidiary of Inspire Brands, one of the largest restaurant companies in the world, with over 32,600 restaurants, including 1,325 Buffalo Wild Wings locations. The offering represents the only Buffalo Wild Wings location in Murfreesboro.

The asset is strategically positioned as an outparcel to The Avenue at Murfreesboro retail center, an 800K+ square foot open-air shopping center which receives over 3.5 million annual visits (per Placer.ai) and boasts top-performing national tenants including Dick’s Sporting Goods (#2 location in the state), Best Buy (88th percentile nationwide), and Ulta Beauty (#1 location in the state). Buffalo Wild Wings receives significant crossover retail exposure from its position at the entrance of the center, directly accessible by traffic from Medical Center Parkway (38,300 VPD) and Interstate-24 (132,000 VPD). Moreover, the tenant ranks in the top 86th percentile nationwide among brand locations, and 3rd overall in the state, with over 280K annual visits (per Placer.ai). Located 30-miles Southeast of downtown Nashville, Murfreesboro provides an excellent infrastructure and consumer base for the property. The immediate area has experienced substantial population growth in recent years due to the increased commercial and residential development, including the adjacent Residences at Clari Park. The mixed-use development spans across 11-acres and will feature 300 apartment units, 38 single family homes, 282 town homes, fitness centers, outdoor common areas, an event center, and restaurants such as Cava and Whataburger. The 5-mile trade area is supported by a population of over 154,300 residents and 58,600 employees with an average household income of $100,706.