About This Restaurant
Investment Highlights
20-Year Sale-Leaseback Signed at Closing ? Franchisee (AES Restaurants) Operates 170+ Unit Arby's in 16 States AES Restaurants Owner & Founder John Wade is the Chairman of The Arby?s Franchise Association Ideally Located Just Off Interstate-81 Along Highway 394 Absolute NNN Lease with 10% Rental Escalations Every 5 Years Throughout the Lease AES Restaurants was named the 2019 Top Franchisee of The Year within Arby?s Corporate System Store Benefits from Strong Store Sales ? Above the National Arby?s Average
Executive Summary
Marcus & Millichap is proud to offer an exclusive listing for the Arby?s located at 11313 Highway 394, Blountsville, Tennessee. The site consists of a 3,473 total square feet of building which sits on 1.14 acre parcel of land. The site will be subject to a 20-year sale-leaseback with AES Restaurants who operates over 170 restaurants in 16 different states. The lease will call for 10% rental escalations each five year period during the base term and throughout the four, five-year renewal option periods. The property is ideally located just off Interstate-81 along Highway 394 with excellent visibility. Other national retailers in the immediate area that drive traffic to the area include Advance Auto Parts, BP gas station, Subway, Domino?s Pizza and Fireworks Supermarket.Blountville, Tennessee is the county seat of Sullivan County and part of the Kingsport-Bristol metropolitan statistical area and commonly know as the ?Tri-Cities? region. Blountville is located approximately 100 miles northeast of Knoxville, Tennessee and 159 miles northwest of Charlotte, NC.
Property Details
- Sale Type Investment NNN
- Sale Condition Sale Leaseback
- Property Type Retail
- Property Subtype Fast Food
- Building Size 3,473
- Building Class C
- Year Built 1991
- Price 2,046,000
- Price Per SF 589
- Cap Rate 5.35
- NOI 109,455
- Tenancy Single
- Building Height 1 Story
- Building FAR 0.08
- Land Acres 1.00 AC
Property Taxes
| Parcel Number | 050-036.20 | Improvements Assessment | $87,920 |
| Land Assessment | $134,680 | Total Assessment | $222,600 |
| Date Created: | 2024-07-16 04:23:38 | Last Updated: | 2024-07-16 04:23:38 |
| Address: | 1313 Highway 394 , Blountville, Tennessee, 37617 | ||