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Views: 20 DOM: 82 Updated: 04.12.24 Posted: 02.25.24 Status: Active

Summary

Price $6,615,000
Built/Renov 2023
Tenant Walk-On's Sports Bistreaux
Cap Rate 7.00%
Lease Type Abs NNN
Guarantor Corporate
Size/SF 7,439
Lease Start 10-01-2023
#Units 79
Price/SF $889.23
Expiration 10-01-2038
Tenant Type Casual Dining
NOI $463,080
R. Term 14.4
Ownership Fee Simple
Rent/SF $62.25
Increases 10.0%/4/yrs
Pop 5Mi 35,654
Lot/AC 1.76
Options 4/5yrs/10%
AHHI 5Mi $64,912

Lease Highlights

  • New 2023 construction
  • Walk-On's Sports Bistreaux has 14+ years remaining on the current lease term with 4 (5-year) options to extend
  • The lease features 10% rental escalations every 5 years throughout the initial term and option periods
  • Absolute NNN | Zero landlord responsibilities
  • Corporate guaranteed lease

Location Description

Walk-On's Sports Bistreaux is strategically located on I-81, offering direct on/off ramp with access to 53,200 vehicles passing by daily. The property serves as an outparcel to The Pinnacle, a power center featuring national tenants such as Marshalls, Chick-fil-A, Michaels, Belk, Outback, and more. Notably, The Pinnacle holds the distinction of being the #1 ranked lifestyle center in Tennessee...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

About Tenant

Walk-On’s Sports Bistreaux is a full-service family sports restaurant and bar. Walk-On's Sports Bistreaux features a Louisiana-inspired menu, including waffle cheese fries, fried alligator,...


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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 1,159 10,430 34,408
2023 Total Population : 1,156 10,545 34,778
2023 Employed Civilian Pop : 399 4,334 13,803
2023 Total Businesses : 159 440 1,853
2023 Average Household Income : $ 75,660 $ 68,911 $ 65,074
2023 Total Consumer Spending : $ 33 M $ 279 M $ 879 M
2023 Median Age : 48 47 46
2023 Total Households : 508 4,614 15,317
2023 Pop Age 25+: Bachelor's Degree : 210 1,286 4,048
2023 Average Home Value : $ 235,433 $ 212,048 $ 222,393
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
W State St 2022 5,689 0.11 mi
US Hwy 11W 2022 1,544 0.14 mi
US Hwy 11W 2022 1,831 0.14 mi
US Hwy 11W 2022 1,615 0.19 mi
US Hwy 11W 2022 4,370 0.19 mi
I- 81 2022 1,193 0.21 mi
Medical Park Blvd 2022 1,623 0.37 mi
Medical Park Boulevard W State St 2022 6,085 0.45 mi
Johnson Chapel Rd 2022 11,370 0.49 mi
Meadow View Road Winchester Ln 2022 1,037 0.77 mi

Listing Broker

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