Former Restaurant with
539 N Main St Lake City, TN 37769
539 N Main St, Lake City, TN, 37769
Contact for pricing
For Sale
Contact for pricing
5,182 SF vacant restaurant with drive-thru and carhop bays.
Property Size5,182 SF
Lot Size1.53 Acres
Price / SF$357.01
Days on Market333
Property Features for 539 N Main St
General Information
- Standard status
- Active
- Size
- 5,182 SF
- Lot size
- 1.53 Acres
- Property subtype
- Retail
Listing Agency
Oliver Smith Realty & Development Company
Listed by
Oliver Smith · License #TN
Source
Crexi
Added: Aug 19, 2025 Checked: Jul 15 at 3:44 pm
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 Oliver Smith Realty & Development Company
Investment Insights
Based on property information with market context.
This 5,182 square-foot property, situated on 1.53 acres, is a vacant former Sonic restaurant. It features a drive-thru and 16 carhop bays, along with 41 parking spaces. The property is located at an I-75 interchange with a traffic count of 55,207. Nearby retailers and restaurants include McDonald’s, KFC, Cracker Barrel, Subway, Dollar General, Advance Auto, and Fast Pace Urgent Care. The surrounding area has the following demographics: within a 5-mile radius, the population is 11,099 with an average household income of $68,898; within a 7-mile radius, the population is 26,910 with an average household income of $77,591; and within a 10-mile radius, the population is 52,753 with an average household income of $72,657.
Key Highlights
- High Traffic Count: 55,207
- Includes FF&E (Furniture, Fixtures, and Equipment)
- Drive‑Thru and 16 Carhop Bays
Local Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $121.3k | $23.40 |
| − Vacancy | −$5.5k | −$1.05 |
| EGI | $115.8k | $22.35 |
| − OpEx | −$29.0k | −$5.59 |
| NOI | $86.9k | $16.76 |
5,182 SF · lease $23.40/SF/yr · vacancy 4.50% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$1.24M
$1.09M – $1.45M
NOI $86,852 @ 7.0% cap · market cap 4.69%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.28M
$1.12M – $1.50M
NOI $89,843 @ 7.0% cap · market cap 4.86%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Drive through restaurants
FAQs
What type of property is this?
Drive through restaurant - 5,182 SF vacant restaurant with drive-thru and carhop bays.
Where is this drive through restaurant located?
The property is located at 539 N Main St Lake City, TN.
What is the asking price?
The asking price for this property is $1,850,000.
What are key features of this property?
This property features: High Traffic Count: 55,207; Includes FF&E (Furniture, Fixtures, and Equipment); Drive‑Thru and **16 Carhop Bays**
