Springfield, TN - Arby's

Description:

SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN leased Arby’s investment property located in Springfield, Tennessee. The tenant, Arby’s, recently extended their lease with 11 years remaining and 3 (5-year) options to extend, demonstrating their commitment to the site. The lease features annual 1.25% rental increases throughout the remainder of the term and at the beginning of each option period, steadily growing NOI and hedging against inflation. The lease is absolute NNN with zero landlord responsibilities, making it an ideal, management-free investment opportunity for an investor.

The Arby’s is strategically located along US route 431 which is the major retail thoroughfare serving the city of Springfield. The site benefits from strong visibility and access near the intersection of US Route 431 and State Route 76 with a combined average of over 22,000 vehicles per day. The property is in a retail corridor with national and credit tenants including Lowe’s Home Improvement, Walmart Supercenter, Aldi, Chick-fil-A, Kroger, Tractor Supply, Planet Fitness, Taco Bell, Ace Hardware, Wendy’s, O’Reilly Auto Parts, and Advance Auto Parts. The asset is in close proximity to two anchored shopping centers, Mooreland Shopping Center and Centre Stage Shopping Center, anchored by major retailers such as Bealls, Hibbett, Cato, and Ollie’s. The subject property is in close proximity to Springfield High School, with over 1,100 students. This high school creates a pool of consumers such as staff, teachers, parents, and students from which to draw. The 5-mile trade area is supported by a population of over 27,000 and 12,000 employees with an average household income of $93,857.

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Listing ID: a28TP000002XROTYA4