174 Stonebrook Pl - Freestanding FOR SALE


Jackson, TN 38305
$1,600,000 USD
310-408-4364
174 Stonebrook Pl, Jackson, TN for Sale
$1,600,000 USD
Freestanding - FOR SALE
1/5
null | 6.56% Cap Rate

174 Stonebrook Pl
Jackson, TN 38305


HIGHLIGHTS

  • 30+ Year Historical Occupancy - Absolute Net Lease (Zero Landlord Responsibilities) with Favorable Rental Increases Every 5 Years.
  • Backed by Charter Foods Inc. A 200 Unit Franchisee Headquartered in TN
  • Positioned along Area’s Major Retail & Traffic Corridor: Daily Traffic Counts Exceed 42k+ Vehicles.
  • Recent Remodel to Newest Prototype/Modern Design
  • Highly Affluent Area: Average Household Income in Excess of $100,000+ within a 1 Mile Radius.
  • Rare 14x36 Digital Billboard included Featuring 8 ads per side.

OVERVIEW

The property consists of an Absolute Net Leased Long John Silvers with a drive-through and a ground leased digital billboard. The property is located in the growing municipality of Jackson, TN. Jackson, the 8th largest city in Tennessee, is a dynamic and growing city located just about halfway between Nashville and Memphis. The area has great demographics with over 65,000 residents within 5 miles and an average household income of just slightly over $100,000. The property is located directly adjacent to US Route 45 which is one of the two main highways through Jackson and accounts for over 43,000 vehicles passing this location each day. This active freeway adjacent site also proves a fantastic location for the Digital Billboard that was constructed on the property in 2017. The billboard lease is an absolute ground lease that runs through 2067 and pays a flat lease rate of $20,000 per year. The restaurant building was constructed in 1994 for Long John Silvers and has continuously operated at this site for the past 30 years. In 2023 Long John Silver’s Corporate sold this store to Charter Foods Inc., a vibrant and fast growing YUM brands franchisee based in Morristown, TN. Charter foods operates over 200 locations across the United States consisting of KFC, Taco Bell, and Long John Silvers. The lease requires the tenant to report sales and sales are good and have increased dramatically since Charter Foods took over operations.

FOR SALE DETAILS

PRICE

$1,600,000 USD

PRICE/SF

$533 USD /SF

CAP RATE

6.56%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Long John Silver's

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1995

SPRINKLERS

-

PARKING SPACES

30

LAND DETAILS

LAND ACRES

1 AC

LAND SF

43,560 SF

ZONING

SC-1

APN/PARCEL ID

044O-A-003.00

ASK ABOUT THIS PROPERTY

Joseph LinkogleMarcus & MillichapMore Info
310-408-4364

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Joseph LinkogleMarcus & MillichapMore Info
310-408-4364

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.