5114 Tn-153 Chattanooga, TN 37343

Property Details for 5114 Tn-153

Year built

2022

Lot size

0.54 lot acres

Property size

1,200 SF

Property type

Retail properties

Description

This exceptional investment opportunity presents a newly constructed (2022), 1,200 square foot Petro's Chili & Chips, situated on a 0.54-acre lot in the thriving Hixson suburb of Chattanooga, Tennessee. Boasting a prime location on TN-153, this property benefits from over 50,000 daily vehicle counts, ensuring high visibility and accessibility. The property features 16 parking spaces and is zoned C2. The absolute NNN lease, with a franchisee tenant, runs for 20 years, commencing August 31, 2022, and includes four 5-year renewal options with a 10% rent increase every five years. The current occupancy rate stands at 98.5%, reflecting the strong performance and stability of this investment. Projected annual net income is substantial, with significant increases over the lease term. The property offers a compelling 6.96% cap rate, making it an attractive addition to any portfolio. This is a rare opportunity to acquire a high-performing, low-maintenance retail asset in a rapidly growing market with a strong regional brand tenant. The Chattanooga metro area boasts a population exceeding 426,000 and welcomes over 15.6 million visitors annually, contributing to a robust local economy. The Hixson submarket, with its over 4.4 million square feet of retail space, demonstrates a high level of occupancy, further solidifying the investment potential of this property. The average household income within a 3-mile radius is approximately $82,360, indicating a strong consumer base. This property offers a secure, long-term investment with significant upside potential.

Location Insight

City

Chattanooga

County

Hamilton

State

Tennessee

Longitude

-85.2382

Latitude

35.1223