Leased Restaurant NNN
For Sale
Contact for pricing
371 S Illinois Ave, Oak Ridge, TN 37830
McAlister’s Deli operates in a 4,225-square-foot restaurant building constructed in 1993 under a renewed NNN lease.
Property Size4,225 SF
Lot Size0.76 Acres
Days on Market124
Property Features for 371 S Illinois Ave
General Information
Standard status
Active
Size
4,225 SF
Lot size
0.76 Acres
Property subtype
Retail
Building Details
Year Built
1993
Listing Agency:
Essential Capital Advisors
Listed By:
Milo Spector · License #01959211
Source:
Crexi
Added: Apr 11
Changed: Aug 8
Last Checked: Jul 21 at 7:52PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Essential Capital Advisors
Investment Insights
Based on property information with market context.
This leased restaurant property features a 4,225-square-foot building constructed in 1993 on approximately 0.76 acres. The asset is operated as McAlister’s Deli and is offered on a 100% fee simple basis.
The property is governed by a recently renewed NNN lease with an additional 6 years starting April 1, 2020. The lease includes two 5-year renewal options, with renewal increases of 12% in Option 2 and 11.4% in Option 3. The NNN structure is described as landlord-friendly, with the tenant responsible for all expenses except for roof and structure.
The offering includes the restaurant building and the land it sits on, providing an income-producing operating asset under the existing lease terms.
The property is governed by a recently renewed NNN lease with an additional 6 years starting April 1, 2020. The lease includes two 5-year renewal options, with renewal increases of 12% in Option 2 and 11.4% in Option 3. The NNN structure is described as landlord-friendly, with the tenant responsible for all expenses except for roof and structure.
The offering includes the restaurant building and the land it sits on, providing an income-producing operating asset under the existing lease terms.
Key Highlights
- McAlister’s Deli occupies a 4,225 SF restaurant building constructed in 1993
- Property sits on approximately 0.76 acres in Oak Ridge, Tennessee
- Recently renewed NNN lease includes 6 more years starting April 1, 2020
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
486
Businesses Nearby
5k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Advance Auto Parts
Shops & Services
4,869 visits/mo
0.5 miles
Demographics for 37830, TN
31,839
Population
15,110
Households
2.1
Avg Household Size
42
Median Age
39%
College-Educated
91%
High-School Grad
84.8 sq mi
ZIP Area
375
Density / Sq Mi
$70,795
Median Household Income
$41,293
Median Earnings
$1,076
Median Rent
$234,500
Median Home Value
Market
Vacancy Rate% for Retail in South region
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Frequently Asked Questions
What type of property is this?
NNN property - McAlister’s Deli operates in a 4,225-square-foot restaurant building constructed in 1993 under a renewed NNN lease.
Where is this nnn property located?
The property is located at 371 S Illinois Ave Oak Ridge, TN.
What are key features of this property?
This property features: McAlister’s Deli occupies a 4,225 SF restaurant building constructed in 1993; Property sits on approximately 0.76 acres in Oak Ridge, Tennessee; Recently renewed NNN lease includes 6 more years starting April 1, 2020
