Johnson City, TN - Petro's Chili & Chips

Description:

• The tenant currently has 8+ years remaining on their initial lease with 2 (5-year) options to extend, demonstrating their commitment to the site
• The lease features 2.50% annual increases throughout the initial term and options thereafter, growing NOI and hedging against inflation
• Petro’s Chili & Chips is a small fast-food chain based in Knoxville, Tennessee, with 14 locations in Knoxville and other parts of East Tennessee

• The subject property is located at the signalized, hard corner intersection of Sunset Dr and N. State of Franklin Rd which combined average 35,100 VPD
• The asset benefits from nearby direct on/off ramp access to Interstate 26, a major thoroughfare that averages 60,900 vehicles passing by daily
• The site is an outparcel to a Food City anchored center
• Nearby strong national/credit tenant presence which includes Kroger, Lowe’s, Target, Home Depot, Starbucks, Dick’s, Take 5 and many more