2741 Medical Center Pky - Restaurant FOR SALE


Murfreesboro, TN 37129
$3,325,000 USD
949-903-3399
2741 Medical Center Pky, Murfreesboro, TN for Sale
$3,325,000 USD
Restaurant - FOR SALE
1/6
null | 5% Cap Rate

2741 Medical Center Pky
Murfreesboro, TN 37129


HIGHLIGHTS

  • Proven Long Term Absolute NNN Corp. Lease by Brinker International (NYSE: EAT)
  • Trophy Outparcel to The Avenue Open Air Center (843K SF)- Best Buy/Dicks/Petco/Belks
  • #1 Chili’s in State of TN- Ranked in Top 10% Nationally- Tremendous Sales/ Low Downside
  • Ranked as “Fastest Growing Cities in the U.S.” (2024)- 48% Population Growth 2010-2023
  • Best in Class Restaurant Brand! - Strong Corp Guarantee (Maggiano’s/Its Just Wings)
  • Zero LL Duties- Below Market Rent- 10% Rent Bumps- Large 1.75 Acre Parcel- Dense Retail

OVERVIEW

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.

FOR SALE DETAILS

PRICE

$3,325,000 USD

PRICE/SF

$566 USD /SF

CAP RATE

5%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Chili's Grill & Bar

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Restaurant

ADD'L SUBTYPES

Freestanding

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2008

SPRINKLERS

-

PARKING SPACES

50

LAND DETAILS

LAND ACRES

1.75 AC

LAND SF

76,230 SF

ZONING

Highway Commercial

APN/PARCEL ID

-

ASK ABOUT THIS PROPERTY

Eric CarltonColliersMore Info
949-903-3399

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Eric CarltonColliersMore Info
949-903-3399

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