Overview

Description

SRS National Net Lease Group is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in a freestanding with drive-through, multi-tenant retail building investment property located in Hixson, Tennessee. The offering features a strong food and service-based tenant lineup of Starbucks, Crumble Cookies, I Heart Mac And Cheese, T-Mobile, Sega Dental, and 100 Food Sushi. The tenants operate under leases that are NNN in nature, limiting expense leakage for a future investor. Additionally, Starbucks is equipped with an end-cap drive-through lane, which provides ease and convenience for customers. The building is recently built in 2021 featuring a state-of-the-art design and high-quality materials. The property is at 87% occupancy, providing a value-add opportunity for a future owner through leasing the remaining vacancy.

The subject property is strategically located along State Highway 153, 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 pylon sign, and has multiple points of ingress/egress. In addition, the property is ideally located in the heart of a dense, regional retail corridor, with numerous nearby shopping centers, including Gadd Crossing (74K+ SF, Anchored by Aldi), Towne Center North (240K+ SF, Anchored by Target), Oak Park Town Center (220K+ SF, Anchored by Walmart), and more. Various national/credit tenants presence in the immediate trade area significantly increases consumer draw and promotes crossover store exposure to the subject site. The 5-mile trade area is supported by approximately 78,500 residents and 28,000 employees with more than $106,000 average household income.

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