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DOM: 168 Updated: 05.20.24 Posted: 11.17.23 Status: Sold 05.03.24

Summary

Price $375,000 $464,542
Built/Renov 1985
Tenant Advance Financial
Cap Rate 9.91% 8.00%
Lease Type Abs NNN
Guarantor Corporate
Size/SF 2,000
Lease Start 03-01-2017
#Units 105
Price/SF $187.50 $232.27
Expiration 02-29-2028
Tenant Type Bank/Financial
NOI $37,162
R. Term 2.9
Ownership Fee Simple
Rent/SF $18.58
Increases 2.0%/1/yrs
Pop 5Mi 13,341
Lot/AC 0.28
Options 2/5yrs/2%
AHHI 5Mi $65,443

Lease Highlights

  • Advance Financial has 4+ years remaining on the current lease term with 2 (5-year) options to extend
  • Lease features 2% annual rental increases
  • Absolute NNN lease | Zero landlord responsibilities
  • Corporate guaranteed lease

Location Description

This Advance Financial property is part of a 5-unit portfolio comprised of locations in Alcoa, Sparta, Kingsport, Manchester, and Portland, Tennessee. All of the properties feature outstanding visibility and frontage along primary commercial corridors and offer convenient access to the local communities. Characteristically situated near “Main & Main” locations, the properties are in close...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Advance Financial
  • Guarantor:Corporate
  • Company:Advance Financial 24/7
  • # Units:105
  • Stock:Private

About Tenant

Advance Financial is a financial services company that primarily offers short-term lending and other financial products to consumers. The company’s offerings include cash loans and other services...


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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 2,711 13,600 21,388
2023 Total Population : 2,732 13,414 21,050
2023 Employed Civilian Pop : 1,303 6,440 10,078
2023 Total Businesses : 212 394 492
2023 Average Household Income : $ 50,876 $ 67,689 $ 72,925
2023 Total Consumer Spending : $ 47 M $ 289 M $ 484 M
2023 Median Age : 34 36 38
2023 Total Households : 1,075 4,926 7,648
2023 Pop Age 25+: Bachelor's Degree : 118 948 1,609
2023 Average Home Value : $ 254,289 $ 326,187 $ 342,927
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
South Broadway Hardison St 2022 15,956 0.25 mi
Austin Peay Highway Portland Ctyard Dr 2022 13,009 0.62 mi
SR 52 S Broadway 2021 14,602 0.62 mi
S. RUSSELL ST. E Longview Dr 2021 1,369 0.73 mi
Fowler Ford Road Grandview Ave 2022 984 0.76 mi
South Russell Street Robin Dr 2022 2,487 0.78 mi
North Broadway Challenger Dr 2022 19,423 0.85 mi
SR 109 Main St 2021 21,792 0.85 mi
Maple Street Lyon Dr 2022 11,187 1.15 mi
SR 52 W Market St 2021 12,557 1.15 mi

Listing Broker

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