5114 Tn-153 Chattanooga, TN 37343
- Retail properties
- 1,200 SF
- 0.54 lot acres
Current Use by Public Records
- Retail properties
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 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.
Value Estimation
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CAP approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Chattanooga
- County
- Hamilton
- State
- Tennessee
- Longitude
- -85.2382
- Latitude
- 35.1223
