Property Details for 5114 Tn-153

Year built

2022

Lot size

0.54 lot acres

Property size

1,200 SF

Property type

Retail properties & Spaces

Description

This exceptional investment opportunity presents a fee-simple, 1,200 square foot, Class A, single-tenant, quick-service restaurant (QSR) property located at 5114 TN-153 in Chattanooga, Tennessee. The property, built in 2022 and renovated in 2024, sits on a 0.54-acre lot in a C-2 (Convenience Commercial Zone) and boasts 16 parking spaces. Currently occupied by Swig Drinks, a rapidly expanding beverage company, the property is under a 10-year absolute triple-net (NNN) lease commencing January 1, 2025, and expiring December 31, 2034, with a remaining term of 10.1 years. The lease includes annual rent bumps of 3% and four additional 5-year renewal options. The property generates a net operating income (NOI) of $100,000, resulting in a 6.00% cap rate. The asking price is $1,667,000. This prime location on Highway 153 experiences daily traffic exceeding 50,000 vehicles and benefits from a thriving retail area with over 4.3 million square feet of space, 98% occupied. The property's proximity to CHI Memorial Hospital – Hixson Campus and the heavily trafficked Hwy 153/319 intersection further enhances its desirability. The surrounding area boasts a strong demographic profile, with an affluent average household income of $107,000 and a median household income of $79,250 within a 3-mile radius, and a booming population of over 90,000 within a 5-mile radius. Chattanooga's robust tourism industry, attracting nearly 16 million visitors annually, adds to the property's investment appeal.

Location Insight

City

Chattanooga

County

Hamilton

State

Tennessee

Longitude

-85.2382

Latitude

35.1223