101 Jackson Blvd Jonesborough, TN 37659-5120

Property Details for 101 Jackson Blvd

Year built

2010

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

109.00 lot acres

Property size

4,560 SF

Zone code

B3

Property type

Grocery and convenience stores

APN

052P B 01800

APU

052PB01800

Description

This exceptional investment opportunity presents a fee-simple ownership of a 5,060-square-foot convenience store and gas station located at 101 E Jackson Blvd, Jonesborough, TN 37659. The property sits on a 0.59-acre lot, enjoys a hard corner location with excellent visibility and access, and benefits from its position in front of the Washington County Court and a strip mall (Fox Plaza), resulting in high daily traffic volume (60,000 vehicles per day). The property features a 15-year absolute NNN lease with GPM Investments (S&P: B+), a nationally recognized brand with over 3,200 units, providing a strong corporate guaranty. The lease commenced May 1, 2022, and expires April 30, 2037, leaving approximately 12.4 years remaining. The lease includes 10% rent bumps every five years, ensuring consistent income growth. The asking price is $3,156,000, representing a 6.00% cap rate and a net operating income (NOI) of $189,345. The building was renovated in 2010. This is a management-free investment ideal for passive investors, particularly those seeking opportunities in a state with no state income tax. The tenant is responsible for all common area maintenance (CAM), taxes, and insurance, eliminating landlord responsibilities. This property offers a compelling combination of strong tenant credit, long-term lease, built-in rent increases, and a prime location, making it an attractive addition to any investment portfolio.

Location Insight

City

Jonesborough

County

Washington

State

Tennessee

Longitude

-82.4752

Latitude

36.2976

CBSA code

27740

CBSA name

JOHNSON CITY, TN METROPOLITAN STATISTICAL AREA

Property Tax & Assessments