Leased Restaurant NNN
371 S Illinois Ave Oak Ridge, TN 37830
371 S Illinois Ave, Oak Ridge, TN, 37830
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For Sale
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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 Market103
Property Features for 371 S Illinois Ave
General Information
- Standard status
- Active
- Size
- 4,225 SF
- Lot size
- 0.76 Acres
- Property subtype
- Retail
Listing agency
Essential Capital Advisors
Listed by
Milo Spector · License #01959211
Source
Crexi
Added: Apr 11 Updated: Jul 21 at 7:52PM Checked: Jul 21 at 7:52PM
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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
Location Intelligence
Current Use by Public Records
McAlister's Deli
Take-out & Catering
Similar For Sale Nearby
FAQs
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
