120 General Lee Dr Ringgold, GA 30736

Property Details for 120 General Lee Dr

Year built

2017

Lot size

1.35 lot acres

Property size

10,200 SF

Property type

Retail properties

Property subtype

Restaurants

Description

This exceptional investment opportunity presents a thriving 10,200-square-foot Farm to Fork restaurant in Ringgold, Georgia. Located at 120 General Lee Dr, this single-tenant, net-lease property boasts a highly desirable location, less than half a mile from Interstate 75, experiencing significant traffic counts exceeding 93,000 vehicles daily on I-75 and over 30,000 on Battlefield Parkway. The property sits on a 1.35-acre lot and benefits from a strong average household income exceeding $99,000 within a one-mile radius and $92,000 within five miles. Built in 2017, the restaurant enjoys 100% occupancy with a remaining lease term of over 12 years, extending to November 30, 2036, featuring 1% annual rent bumps. The current Net Operating Income (NOI) stands at $226,974, yielding a 7.56% cap rate, and the asking price is $3,000,000 ($294.12 per square foot). Farm to Fork has established a strong reputation, evidenced by a 4.3-star Google rating with over 4,800 reviews. The restaurant includes two large banquet rooms and recently added a porch, enhancing its appeal. Its proximity to a Hampton Inn and SpringHill Suites, along with other retail and commercial establishments, further solidifies its strategic position within the thriving Chattanooga MSA, projected to grow by 3.2% over the next five years. This property offers a compelling combination of strong performance, long-term lease stability, and significant growth potential. The lease includes one five-year option to extend.