906 Turner StMaryville, TN 37801

Property Details for 906 Turner St

Year built

1997

Construction

FRAME

Lot size

0.95 AC

Property size (Sq ft)

6,088 SF

Zone code

HIR

Property type

Retail properties

Property subtype

Turn key restaurants

APN

005057G A 00703

APU

005057GA00703

Description

This exceptional investment opportunity presents a 5,000 square foot IHOP restaurant located at 906 Turner St, Maryville, TN 37801. The property boasts a strong 7.00% cap rate and a substantial net operating income (NOI) of $157,000. Offered at $2,242,857, this represents a land value of $368 per square foot. The property features a single-tenant, absolute NNN lease with IHOP Leasing, LLC, a subsidiary of Dine Brands Global, Inc., ensuring minimal landlord responsibilities. The current lease has four years remaining, providing immediate cash flow and long-term stability. Originally built in 1997, the IHOP location has a proven track record, with the current lease being an extension from a lease initially signed in December 1998. This strategically located restaurant benefits from its proximity to major retailers, including a Home Depot and a Target-anchored power center, and is situated across US Hwy 321 from the Foothills Mall, a regional shopping center with approximately 70 stores and restaurants. Recent improvements to Foothills Mall Drive have enhanced traffic flow in the area, further increasing visibility and accessibility to the property. The IHOP brand's long-standing history and resilience contribute to the investment's overall strength and potential for continued success. This is an ideal opportunity for passive investors seeking a stable, high-return investment in a thriving retail environment.

• CAP approach

  CAP return

  Valuation

  6%

  $1,570,570

  6.5%

  $1,449,757

  7%

  $1,346,203

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,992,564

  Geo Method

  $2,992,564

• Alternative Use

  Use

  Valuation

  Residential

  $1,222,924

  Hospitality

  $1,120,192

  Educational

  $931,986

  Medical

  $964,039

  Retail

  $1,449,757

Location Insight

City

Maryville

County

Blount

State

Tennessee

Latitude

35.7529

Longitude

-83.9957

CBSA code

28940

CBSA name

KNOXVILLE, TN METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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