Listed by Marcus & Millichap
$2,191,000
Cracker Barrel
Details
Property Type Retail
Sub Type Restaurant
Square Footage 8,588
Cap Rate 5.83%
NOI $127,836
Tenancy Single
Brand/Tenant Cracker Barrel
Lease Type Absolute NNN
Lease Term 35
Lease Expiration 08/30/2033
Remaining Term 7.1
Rent Bumps Yes
Lease Options Four, 5-Year
Broker Co-Op Yes
Year Built 1998
Acreage 2.210
Investment Type Net Lease
Tenant Credit Credit Rated, Corporate Guarantee
Lease Commencement 08/31/1998
Ground Lease Yes
6.64% Cap in 2028 | Strong Performing Store | Corporate Guarantee | Harriman, TN
Marketing description
Lease:
- 13.75% Rental Increase on 9/1/2028, increasing cap to 6.64%!
- Below concept rent, only paying $127,836 annually
- 7+ Years Remaining on base term
- Ground Lease NNN, No Landlord Responsibilities
- Corporately Guaranteed (S&P Credit Rating: BB-)
History of Operational Success
- Cracker Barrel has been operating at this site for 27+ years, since 1998
- Cracker Barrel has exercised multiple options at this location showing continued commitment to this location. Most recently exercising a 10-year option in 2023
Placer.ai / Strong Performing Store
- Placer.AI ranks this Cracker Barrel in the top 82nd percentile nationally and top 72nd in the state of Tennessee
Cracker Barrel / Corporate Guarantee
- In fiscal 2025, total revenues approached $3.48 B, with adjusted EBITDA up ~9% year-over-year, highlighting resilience in core dining and retail operations.
- 660+ company-owned Cracker Barrel restaurants across 43 states, the tenant carries full operational control and consistent brand standards
- Comparable restaurant sales grew by 5.4%, supported by strategic pricing and menu mix, underscoring strong brand relevance
Listing Contacts
Listed by Marcus & Millichap
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$127,836.00
$10,653.00/mo
Valuation Metrics
0
DSCR
5.83%
Cap Rate
5.83%
ROI
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