5013 Hixson Pike Chattanooga, TN 37415

Property Details for 5013 Hixson Pike

Year built

2005

Lot size

0.92 lot acres

Property size

3,500 SF

Property type

Retail properties

Property subtype

Restaurants

Description

This exceptional investment opportunity presents a fee-simple interest in a thriving Zaxby's restaurant located at 5013 Hixson Pike, Chattanooga, TN 37415. The 3,500 square foot, single-tenant building, constructed in 2005, sits on a 0.92-acre lot and boasts a prime location as an outparcel to Lowe's and Home Depot, ensuring high visibility and traffic. The property benefits from its strategic position at the on/off ramp of TN-153, a major thoroughfare with over 46,000 AADT, and enjoys over 27,000 vehicles passing daily on Hixson Pike. The current lease, an absolute NNN with zero landlord responsibilities, features a recently extended term running until June 2035, providing 10.6 years of remaining lease term. Annual rent increases of 1% are built into the lease. The property's strong performance is reflected in its current NOI of $194,000 and a pro-forma NOI of $195,940, yielding a 6.00% cap rate and a pro-forma cap rate of 6.06%. The property is situated in a high-traffic area with excellent demographics, including over 87,000 residents within a five-mile radius and an average household income exceeding $107,800. Hixson, the county seat of Hamilton County, provides a stable economic base, and its proximity to Chattanooga, consistently ranked among Tennessee's best places to live, further enhances the property's value. The lease includes two five-year renewal options. This is a truly exceptional opportunity to acquire a stable, high-performing investment property in a rapidly growing market. The property's permitted zoning is commercial, and the parcel number is 110A-B-004.

Location Insight

City

Chattanooga

County

Hamilton

State

Tennessee

Longitude

-85.2425

Latitude

35.1337