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Views: 137 DOM: 275 Updated: 08.12.24 Posted: 03.12.24 Status: Contract 09.04.24

Summary

Price $1,423,000
Built/Renov 2010
Tenant Krystal
Cap Rate 6.15%
Lease Type Abs NNN
Guarantor Corporate
Size/SF 2,082
Lease Start 09-21-2012
#Units 300
Price/SF $683.48
Expiration 09-30-2032
Tenant Type Fast Food/QSR
NOI $87,500
R. Term 7.9
Ownership Fee Simple
Rent/SF $42.03
Increases 1.3%/8/yrs
Pop 5Mi 109,321
Lot/AC 0.63
Options 6/5yrs/1.25%
AHHI 5Mi $81,448

Lease Highlights

  • Krystal has 8 years remaining on the current lease term with 6 (5-year) options to extend
  • The lease features 1.25% annual rental escalations throughout the initial term and option periods
  • Absolute NNN lease | Zero landlord responsibilities
  • Corporate guaranteed lease

Location Description

Krystal is strategically located on Broad St, with access to 23,550 vehicles passing by daily. The site is within walking distance to Chattanooga Christian School, which serves 1,241 students. Nearby national tenants include Publix, Food City, Walgreens, Dunkin’, Taco Bell, Dollar General, and more. Adjacent to the property is Borough 33 Apartment, a new development featuring a 310-unit...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Krystal
  • Guarantor:Corporate
  • Company:SPB Hospitality
  • # Units:300
  • Stock:Private

About Tenant

Krystal is an American regional fast food restaurant chain known for its small, square hamburgers, called sliders in places other than the Southeast, with steamed-in onions. The company has an...


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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 4,284 47,070 110,943
2023 Total Population : 3,163 45,103 109,321
2023 Employed Civilian Pop : 1,145 18,024 49,040
2023 Total Businesses : 315 3,447 5,543
2023 Average Household Income : $ 56,275 $ 78,415 $ 81,448
2023 Total Consumer Spending : $ 69 M $ 1278 M $ 3285 M
2023 Median Age : 38 35 38
2023 Total Households : 1,380 18,462 46,003
2023 Pop Age 25+: Bachelor's Degree : 221 5,856 15,775
2023 Average Home Value : $ 302,177 $ 321,462 $ 325,625
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
West 33rd Street Walkway 2022 3,225 0.21 mi
US 11;US 41;US 64;US W 34th St 2021 23,215 0.27 mi
Broad Street Saint Elmo Ave 2022 21,504 0.27 mi
Broad St W 28th St 2018 22,822 0.28 mi
Broad Street Broad St 2022 23,014 0.37 mi
I- 24 Hwy 27 2018 83,115 0.38 mi
Tennessee Avenue W 38th St 2022 13,803 0.50 mi
SR 17 W 37th St 2021 14,300 0.50 mi
Alton Park Blvd Calvin Donaldson Elem School 2008 7,894 0.54 mi
West 37th Street Carl White Pl 2022 4,388 0.57 mi

Listing Broker

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