415 W Elk Ave - Fast Food FOR SALE
Elizabethton, TN 37643 |
$1,563,000 USD
502-442-7074
415 W Elk Ave
Elizabethton, TN 37643
HIGHLIGHTS
- Brand New 15-Year Lease | Franchisee Guaranteed Ground Lease | Scheduled Rental Increases
- Absolute NNN | Leased Fee Ownership | Zero Landlord Responsibilities
- Elk Crossing (127,000 SF) | West Towne Square (98,000 SF) |Carter County Plaza (126,000 SF) | Primary Retail Corridor
- Strong Demographics in 5-Mile Trade Area
OVERVIEW
• Recently signed a brand new 15 year lease with 4 (5-year) option periods to extend, demonstrating commitment to the site
• Brew Team TN, LLC franchisee guaranteed ground lease
• Features 10% rental increases every 5 years of the lease and at the beginning of each option period, gowing NOI and heding against inflation
FOR SALE DETAILS
PRICE
$1,563,000 USD
PRICE/SF
$1,628 USD /SF
CAP RATE
6.4%
% LEASED
-
TENANCY
Single
SALE TYPE
Investment
ON GROUND LEASE
Yes
BUILDING DETAILS
PROPERTY NAME
7 Brew | New 15yr Abs NNN Grd Lse w/ Incrs
PROPERTY TYPE
Retail
PROPERTY SUBTYPE
Fast Food
ADD'L SUBTYPES
Freestanding, Restaurant
TOTAL BUILDING SIZE
-
STORIES
1
YEAR BUILT
2024
SPRINKLERS
-
PARKING SPACES
48
LAND DETAILS
LAND ACRES
1.4 AC
LAND SF
60,984 SF
ZONING
HC
APN/PARCEL ID
041A-A-010.01
ASK ABOUT THIS PROPERTY
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502-442-7074
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502-442-7074
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