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Views: 112 Updated: 12.13.23 Posted: 09.08.23 Status: Inactive

Summary

Price $2,666,000
Built/Renov 2023
Tenant Chick-fil-A (GL)
Cap Rate 5.00%
Lease Type Abs NNN
Guarantor Corporate
Size/SF 4,995
Lease Start 03-02-2023
#Units 2,806
Price/SF $533.73
Expiration 03-01-2043
Tenant Type Fast Casual/Rest.
NOI $133,288
R. Term 18.8
Ownership Ground Lease
Rent/SF $26.68
Increases 10.0%/11/yrs
Pop 5Mi 30,918
Lot/AC 1.90
Options 10/5yrs/10.3%
AHHI 5Mi $77,237

Lease Highlights

  • New construction 2023 | Double lane drive-thru 
  • Chick-fil-A recently signed a 20-year lease with 10 (5-year) options to extend
  • The lease features 10% scheduled rental increases throughout the initial term and at the beginning of each option period
  • Absolute NNN lease | Zero landlord responsibilities
  • Corporate guaranteed lease

Location Description

This newly constructed, 4,995 square foot Chick-Fil-A, equipped with a double drive-thru lane is positioned facing Winfield Dunn Parkway (62,000 VPD). The asset is an outparcel to Smoky Mountain Gateway, a HomeGoods, and Five Below anchored shopping center which drives consumer traffic to the immediate trade area. It is also an outparcel to a high performing Publix and is positioned next to a...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Chick-fil-A
  • Guarantor:Corporate
  • Company:Chick-fil-A Inc.
  • # Units:2,806
  • Stock:Private

About Tenant

Chick-fil-A is one of the largest American fast food restaurant chains, and the largest specializing in chicken sandwiches. Chick-fil-A was first opened in 1946 in Atlanta, Georgia, under the name...


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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 2,366 14,189 31,798
2023 Total Population : 2,301 13,773 30,930
2023 Employed Civilian Pop : 1,274 6,390 14,933
2023 Total Businesses : 144 993 1,727
2023 Average Household Income : $ 82,842 $ 73,506 $ 77,172
2023 Total Consumer Spending : $ 83 M $ 374 M $ 851 M
2023 Median Age : 41 40 41
2023 Total Households : 1,142 5,814 12,630
2023 Pop Age 25+: Bachelor's Degree : 617 1,803 3,389
2023 Average Home Value : $ 279,777 $ 307,038 $ 317,014
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Winfield Dunn Pkwy Hwy 66 2003 29,400 0.37 mi
Old Douglas Dam Road Old Douglas Dam Rd 2022 1,711 0.39 mi
Winfield Dunn Pkwy Hwy 66 2005 29,560 0.39 mi
OLD KNOXVILLE HWY. Spring St 2021 8,934 0.51 mi
Old Knoxville Highway Spring St 2022 8,225 0.51 mi
Winfield Dunn Parkway Winfield Dunn Pkwy 2022 55,826 0.61 mi
ALLENSVILLE RD. Old Douglas Dam Rd 2021 6,502 0.70 mi
Allensville Road Old Douglas Dam Rd 2022 5,991 0.70 mi
Love Road U St 2022 1,899 0.88 mi
US 411;US 441 Lathem Ln 2021 15,031 0.99 mi

Listing Broker

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