Listed by Encore Real Estate Investment Services
$599,000
LITTLE CAESAR'S
Details
Property Type Retail
Sub Type Restaurant
Square Footage 1,296
Cap Rate 7.00%
NOI $42,000
Occupancy 100%
Tenancy Single
Lease Type NN
Lease Term 5
Lease Expiration 03/01/2030
Remaining Term 4
Rent Bumps Yes
Lease Options 3, 5-Year Options
Price per SqFt $462
Year Built 1950
Year Renovated 2016
Acreage 1.840
Investment Type Net Lease
Lease Commencement 03/01/2025
Ground Lease No
Retail | 7.00% CAP | 1,296 SqFt
Investment highlights
- Double Net Lease Structure
- Tenant Responsible for Taxes / CAM / Insurance / HVAC Repair
- Landlord Responsible for Roof / Structure / HVAC Replace
- 4+ Years Remaining on the Lease
- 3, 5-Year Options Available to the Tenant
- 10% Rental Increases Every 5 Years
- Income Tax Free State
- Drive-Thru Equipped
- $45,000 In Parking Lot Improvements in 2023
- Located on Tennessee Ave Which Sees 10,500+ Vehicles Per Day
- 46,000+ People Live Within 10 Miles of the Property
- Average Household Income of $88,000+ Within 5 Miles of the Property
- Located off Hwy 411 Between Knoxville and Chattanooga
- Lease is Guaranteed by an Experienced 20 Unit Operator
Listing Contacts
Listed by Encore Real Estate Investment Services
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$42,000.00
$3,500.00/mo
Valuation Metrics
0
DSCR
7.01%
Cap Rate
7.01%
ROI
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