1175 Volunteer Pkwy Bristol, TN 37620-4619
- Turn key restaurants
- 6,886 SF
- 2.30 lot acres
Current Use by Public Records
- Pardon My Cheesesteak / Cheesesteak Restaurant / Delivery Service
- IHOP / Restaurant / Family Restaurant
Property Details for 1175 Volunteer Pkwy
- Year built
- 2005
- Construction
- MASONRY/CONCRETE MASONRY UNITS (CMUS)
- Lot size
- 2.30 lot acres
- Property size
- 6,886 SF
- Property type
- Turn key restaurants
- APN
- 082037F B 03600
- APU
- 082037FB03600
Description
This exceptional investment opportunity presents a brand-new, single-tenant, 5,946 square foot IHOP restaurant located in Bristol, Tennessee. The property boasts a 15-year absolute NNN lease with Suncakes, LLC, a 34-unit operator wholly owned by Sun Holdings, the second largest franchisee in the U.S. The lease features attractive 10% rent bumps every five years and includes three five-year renewal options, extending the investment's potential well into the future. Situated on a substantial 2.3-acre lot, this property enjoys excellent visibility and accessibility on Volunteer Parkway, a high-traffic area with 19,878 cars passing daily. Its prime location is minutes from major retailers like Walmart and Lowe's Home Improvement, ensuring consistent customer traffic. The property's strong demographics further enhance its appeal, with a total population of 53,233 within a five-mile radius and an average household income of $89,783 within one mile. Built in 2024, this single-story building is zoned C and offers a compelling 5.50% cap rate with a current NOI of $100,000. The property is offered fee simple, including both the building and land. Nearby amenities include The Pinnacle Shopping Mall and King University, further solidifying the location's strength and potential for long-term growth. This is a rare opportunity to acquire a high-performing, passively managed investment with significant upside potential.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $1,400,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $1,075,000
- 6.5%
- $1,055,000
- 7%
- $1,010,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $1,080,000
- Geo Method
- $860,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $1,105,000
- Retail
- $860,000
- Mixed-Use
- $1,135,000
- Hospitality
- $985,000
- Educational
- $1,015,000
- Residential Income
- $1,035,000
- Energy
- $900,000
- Income-Based Land
- $820,000
- Food Service
- $970,000
Location Insight
- Map
- Local Demand
- City
- Bristol
- County
- Sullivan
- State
- Tennessee
- Longitude
- -82.1985
- Latitude
- 36.5688
- CBSA code
- 28700
- CBSA name
- KINGSPORT-BRISTOL-BRISTOL, TN-VA METROPOLITAN STATISTICAL AREA
