The Snyder Carlton National Net Lease Team is pleased to offer to investors a great opportunity to acquire the single tenant ground leased Chili’s Grill & Bar in Murfreesboro, TN. Chili’s is a subsidiary of Brinker International, Inc. (NYSE: EAT) which owns, operates, and franchises more than 1,600 restaurants around the world. The tenant has occupied this space since 2008 and has consistently been ranked most trafficked Chili’s in the State (top 10% Nationwide) demonstrating the strength and profitability of this location. This corporate-run restaurant has over 3 years remaining in the second option period with one 5-year option period remaining. With no landlord responsibilities and a 10% rent increase at the commencement of next option period, this asset is ideal for an investor seeking passive cash flows.
The 5,874 SF restaurant on 1.75-acre parcel is positioned as an outparcel to The Avenue Murfreesboro, an 853,000 SF open-air shopping center. Strategically located on the hard-corner signalized intersection of Medical Center Parkway (over 30,800 VPD) and Willowoak Trail, Chili’s is surrounded by numerous retailers, hotels and medical facilities. The 286-bed Ascension Saint Thomas Rutherford Hospital is a mile from the subject property and is surrounded by supporting medical offices and facilities. The Oaks Shopping Center and Stones River Town Center, totaling over 900,000 SF, are both within 2 miles with anchor tenants including, Sportsman’s Warehouse, HomeGoods, Ashley, JCPenney and AMC. Other nearby retailers include Walmart Neighborhood Market, Walmart Supercenter, Sam’s Club, Kroger, ALDI, Dick’s Sporting Goods, Tractor Supply, McDonald’s, Chick-fil-A, Raising Cane’s, Starbucks, Chipotle and more.
This is an excellent opportunity to purchase a ground-leased restaurant in the Nashville MSA with a corporate lease, no landlord responsibilities, long-term occupancy and highly ranked performance, providing effortless income for a hands-off investor.