For Sale | Gabe’s Anchored Retail Center

5380 Highway 153, Hixson, TN

$9,702,898

Price

7.35%

Cap Rate

$713,163

NOI

Overview
Cap Rate
7.35%
NOI
$713,163
Building Size
96,000 sqft
Lot Area
10.58 acres
Lease Type
Double Net
Price Per Sqft
$101.07
Year Last Renovated
2019
Roof
Landlord's Responsibility
Description

REDEVELOPED IN THE FOURTH QUARTER OF 2019
The subject property is a recently redeveloped shopping center as of the fourth quarter of 2019. A new roof, upgraded facade, new signage and paint along with new HVAC units have been implemented into the center. These upgrades offer superior building design, construction quality, and substantial longevity to the building’s structure.

LONG TERM LEASES WITH MINIMAL LANDLORD RESPONSIBILITIES
All of the tenants of the property are operating on long-term leases, showing their commitment to the site. Gabe’s anchors the center on a new 10-year lease, Ollie’s Bargain Market is on a 7-year lease, and E.C. Barton recently signed a new 10-year lease. All three leases call for minimal landlord maintenance or responsibilities.

STRATEGIC MARKET LOCATION - IMMEDIATE FREEWAY ACCESS
The subject property is strategically and ideally located along the busy Highway 153 thoroughfare (42,438 ADT). The property is situated immediately off of the Hixson Pike and Highway 153 interchange. Home Depot, Lowe’s, and the dealership of Marshal Mize Ford neighbor the property while a newly constructed Texas Roadhouse is located on the immediate outparcel to the center.

STRONG RETAIL CORRIDOR SURROUNDED BY NATIONAL TENANTS
The subject property is well-located in Hixson with excellent visibility and access along Highway 153. The prominent Northgate Mall is located along the Highway 153 thoroughfare as well. Many national retailers are within close proximity to the property, consisting of Planet Fitness, Dairy Queen, Hobby Lobby, Firestone Complete Auto Care, McDonald’s, Goodyear Auto Service, Taco Bell, Walgreens, Circle K, Zaxby’s, ALDI, Gold’s Gym, and many more.

TN Broker of Record: Jody McKibben
License: 307629

Documents
Title
Offering Memorandum
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Location
Gallery