Established Harriman Restaurant Investment
1839 S Roane St, Harriman, TN 37748
For Sale
Contact for pricing
Long-term leased Cracker Barrel with corporate guarantee and rental increases.
Property Size8,588 SF
Price / SF$255.12
Days on Market247
Property Features for 1839 S Roane St
General Information
Standard status
Size
Property subtype
Lease Type
Investment Type
Net Operating Income
Building Details
Year Built
Tenancy
Listing Agency:
Marcus & Millichap
Listed By:
Reid Thedford · License FL SL3442474
(813) 387-4726
Source:
Crexi
Added: Mar 9
Changed: Aug 8
Last Checked: Aug 8 at 6:37AM
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 Marcus & Millichap
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This commercial property features a restaurant with a history of operational success, as Cracker Barrel has been operating at this site for over 27 years, since 1998. The tenant recently exercised a 10-year option in 2023, demonstrating a continued commitment to the location. The ground lease is NNN, meaning there are no landlord responsibilities. The lease includes a 13.75% rental increase on 9/1/2028. The current rent is below concept rent, at $127,836 annually, with over 7 years remaining on the base term. The location is a strong performing store, ranking in the top 82nd percentile nationally and top 72nd in the state of Tennessee according to Placer.ai. The tenant is corporately guaranteed with an S&P Credit Rating of BB-. Cracker Barrel has over 660 company-owned restaurants across 43 states, maintaining full operational control and consistent brand standards. In fiscal 2025, total revenues approached $3.48 billion, with adjusted EBITDA up approximately 9% year-over-year, highlighting resilience in core dining and retail operations. Comparable restaurant sales grew by 5.4%, supported by strategic pricing and menu mix, underscoring strong brand relevance. The property size is 8,588 square feet.
Key Highlights
- Corporately Guaranteed by Cracker Barrel (S&P Credit Rating: BB-)
- Long‑term Ground Lease with 7+ Years Remaining on Base Term
- Strong Performing Store: Placer.AI ranks in top 82nd percentile nationally
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$143,937
Cap Rate
6.57%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,878,740
$2.9M
Cap Rate 7%
$2,056,243
$2.1M
Cap Rate 9%
$1,599,300
$1.6M
Market Conditions
NOI Build-Up for 8,588 SF
Gross rent
$201.0K $23.40/SF
− Vacancy
−$9.0K −$1.05/SF
EGI
$191.9K $22.35/SF
− OpEx
−$48.0K −$5.59/SF
NOI
$143.9K $16.76/SF
Area
Roane County, TN
Vacancy
4.50%
Lease Rate
$23.40 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,878,740
Cap Rate 7%
$2,056,243
Cap Rate 9%
$1,599,300
Alternative Uses
Best Use
Specialty Retail
$2.06M
$1.80M – $2.40M
NOI $143,937 @ 7.0% cap · market cap 6.57%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.13M
$1.86M – $2.48M
NOI $148,895 @ 7.0% cap · market cap 6.80%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
30
Businesses Nearby
53k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 77%
Shops & Services 18%
Hotels & Casinos 5%
Cracker Barrel Old Country Store
Dining
23,227 visits/mo
0.2 miles
Krystal
Dining
10,570 visits/mo
0.3 miles
Shell
Shops & Services
7,301 visits/mo
0.3 miles
Shoney's
Dining
6,726 visits/mo
0.3 miles
BP
Shops & Services
2,450 visits/mo
0.1 miles
Demographics for 37748, TN
17,227
Population
8,208
Households
2.1
Avg Household Size
45
Median Age
20%
College-Educated
87%
High-School Grad
106.6 sq mi
ZIP Area
162
Density / Sq Mi
$58,649
Median Household Income
$40,155
Median Earnings
$760
Median Rent
$173,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in South region
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Long-term leased Cracker Barrel with corporate guarantee and rental increases.
Where is this conventional restaurant located?
The property is located at 1839 S Roane St Harriman, TN.
What is the asking price?
The asking price for this property is $2,191,000.
What are key features of this property?
This property features: Corporately Guaranteed by Cracker Barrel (S&P Credit Rating: BB-); Long‑term Ground Lease with 7+ Years Remaining on Base Term; Strong Performing Store: Placer.AI ranks in top 82nd percentile nationally
