Current Use by Public Records
- Retail properties & Spaces
Property Details for 7971 Hwy
- Year built
- 2023
- Lot size
- 0.71 lot acres
- Property type
- Retail properties & Spaces
Description
This exceptional investment opportunity presents a brand-new, single-tenant Scooter's Coffee building in Millington, Tennessee. The property boasts a 10-year absolute NNN lease with a corporate guarantee from Scooter's Coffee, a rapidly expanding national franchise (ranked #2 on Entrepreneur's Franchise 500 list in 2024 with over 800 locations). The lease commenced September 8, 2023, and expires September 30, 2033, offering a substantial remaining lease term of 10 years. Rent increases are built in, with a 10% bump every five years, ensuring consistent income growth. The 664 square foot building sits on a 0.714-acre lot, strategically located on US Hwy 51, a major retail thoroughfare, providing excellent visibility and access. The property benefits from its proximity to Huntington Estates (a new single-family home community), Forked River Commons (a recently opened $58 million shopping center), and a Kroger-anchored shopping center. Multiple hotels within a 2.5-mile radius further enhance the location's appeal. The property features a drive-thru and dual ingress/egress, maximizing operational efficiency. The asking price is $1,530,000, representing a 6.75% cap rate and a NOI of $103,124. Four 5-year lease renewal options provide long-term security and predictable cash flow. This is a rare opportunity to acquire a high-performing, low-maintenance investment property with a strong tenant and significant upside potential.
Value Estimations
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Millington
- County
- Shelby
- State
- Tennessee
- Longitude
- -89.9076
- Latitude
- 35.3437
