Single-Tenant Taco Bell
For Sale
$2,152,032
353 S Illinois Ave, Oak Ridge, TN 37830
Absolute NNN lease has more than 19 years remaining, six five-year options, and scheduled annual rent increases.
Property Size2,609 SF
Price / SF$824.85
Days on Market109
Property Features for 353 S Illinois Ave
General Information
Standard status
Active
Size
2,609 SF
Property subtype
Restaurant
Lease Type
Absolute Net
Additional Details
Cap Rate
5.25%
Amenities
Absolute NNN Lease with over 19 Years Remaining
Tacala Franchised Location (380+ Locations)
Outparcel to a Dick's Sporting Goods-TJ-Maxx Anchored Center Adjacent to a Super Walmart
Building Details
Building Size
2,609 SF
Tenancy
Single
Listing Agency:
(615) 997-2834
Listed By:
Jason Hernandez · License #License(s): CA: 01392646, TN: 377081
(615) 997-2834
Source:
Marcusmillichap
Added: May 14
Changed: Aug 29
Last Checked: Aug 29 at 5:44PM
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 Jason Hernandez
Investment Insights
Based on property information with market context.
This 2,609-square-foot Taco Bell restaurant at 353 S Illinois Ave operates under an absolute NNN lease. The original 23-year term has over 19 years remaining, with six consecutive five-year extension options. Contractual rent growth is set at 1.5% annually throughout the primary term and option periods, while maintenance and management responsibilities are not assigned to the property owner under the lease structure.
The restaurant is positioned near the signalized intersection of S. Illinois Avenue and S. Tulane Avenue in Oak Ridge, Tennessee. It serves as an outparcel to a newer shopping center anchored by Walmart Supercenter, Dick’s Sporting Goods, and TJ Maxx. Other retailers identified in the immediate trade area include Hobby Lobby, Chick-fil-A, Planet Fitness, PetSmart, Ross Dress-for-Less, Cinemark Theaters, Walgreens, Starbucks, Food City, and Kroger Marketplace. The property is approximately 30 minutes from Downtown Knoxville within the Knoxville MSA.
The restaurant is positioned near the signalized intersection of S. Illinois Avenue and S. Tulane Avenue in Oak Ridge, Tennessee. It serves as an outparcel to a newer shopping center anchored by Walmart Supercenter, Dick’s Sporting Goods, and TJ Maxx. Other retailers identified in the immediate trade area include Hobby Lobby, Chick-fil-A, Planet Fitness, PetSmart, Ross Dress-for-Less, Cinemark Theaters, Walgreens, Starbucks, Food City, and Kroger Marketplace. The property is approximately 30 minutes from Downtown Knoxville within the Knoxville MSA.
Key Highlights
- 2,609‑square‑foot Taco Bell restaurant at 353 S Illinois Ave, Oak Ridge, TN 37830
- Absolute NNN lease with over 19 years remaining on the original 23‑year term
- Six consecutive five‑year extension options
Property Analytics
Property Profile
Current Use
Lease Details
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
410
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
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
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Absolute NNN lease has more than 19 years remaining, six five-year options, and scheduled annual rent increases.
Where is this conventional restaurant located?
The property is located at 353 S Illinois Ave Oak Ridge, TN.
What is the asking price?
The asking price for this property is $2,152,032.
What are key features of this property?
This property features: 2,609‑square‑foot Taco Bell restaurant at 353 S Illinois Ave, Oak Ridge, TN 37830; Absolute NNN lease with over 19 years remaining on the original 23‑year term; Six consecutive five‑year extension options
