Overview

Description

SRS National Net Lease Group is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in a 2-building, drive-thru equipped, multi-tenant retail investment opportunity in Chattanooga, Tennessee. The offering features a diverse lineup of tenants including Panera Bread, My EyeLab, Buddy’s Bar-B-Q, and Buff City Soap, which have approximately 10 years of weighted lease term remaining on their current leases. The leases are NNN in nature with landlord responsibilities limited to roof, structure, and CAM. The buildings feature a state-of-the-art design and high-quality materials. Additionally, the property has new high quality 2020 construction with transferable warranty.

The subject property is strategically located along State Highway 153 & 319, a major thoroughfare serving the Chattanooga MSA averaging 51,800 vehicles passing by daily. The site benefits from excellent visibility via significant street frontage and a large monument sign, and has multiple points of ingress/egress. The buildings are equipped with drive-thru lanes, providing ease and convenience for customers. Additionally, the property is located as an outparcel to Northgate Mall, a 853,000 square foot mall anchored by T.J. Maxx, Old Navy, and more. Furthermore, the property is ideally situated in the heart of a dense, regional retail corridor, with numerous nearby national/credit tenants including a Walmart Supercenter, The Home Depot, Lowe’s Home Improvement, Target, Marshalls, Ross Dress For Less, Publix, Walgreens, Big Lots!, and many more. Strong tenant synergy significantly increases consumer draw to the immediate trade area and promotes crossover store exposure to the site. The 5-mile trade area is supported by a population of over 86,000 with an affluent average household income of $98,429.

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