5013 Hixson Pike - Restaurant FOR SALE


Hixson, TN 37343
$3,234,000 USD
203-592-4688
5013 Hixson Pike, Hixson, TN for Sale
$3,234,000 USD
Restaurant - FOR SALE
1/5
null | 6% Cap Rate

5013 Hixson Pike
Hixson, TN 37343


HIGHLIGHTS

  • Newly Executed Early 10 Year Lease Extension
  • Absolute Net Lease with Zero Landlord Responsibilities
  • 1% Annual Rental Increases
  • Outparcel to Major Retailers such as Lowe’s, Home Depot & Home Outlet
  • Over 27,000 Vehicles Pass the Site Daily on Hixson Pike, a Four Lane Major Roadway Intersecting with TN-153 (46,251 AADT)
  • Affluent Area with Average Household Income Exceeding $107,800

OVERVIEW

Graystone Capital Advisors has been exclusively engaged to present for sale the fee-simple interest in a single-tenant Zaxby’s located in Hixson, Tennessee, an immediate suburb of Chattanooga. The 3,500 square foot drive-thru building sits on an 0.92 Acre Parcel with excellent visibility and access from Hixson Pike and Trinity Drive. The site benefits from being an outparcel to Home Depot, Lowe’s and Home Outlet, consistently driving traffic to and from the site. Additionally, the site is positioned at the on and off ramp of TN-153, which experiences a traffic count of 46,251 AADT. Hixson Drive itself has over 27,000 vehicles passing the site daily. The tenant recently extended the lease early by ten years, showing their commitment to the location. The lease now extends to June 2035 with 1% annual bumps. There are zero landlord responsibilities as well as this is a true absolute net lease. The tenant is a strong franchise, actively growing in the Southeast. Please consult the Listing Agents for more information regarding the tenant and guarantor. Hixson is the County Seat of Hamilton County, which is a stable economic driver for the local community. It is also an immediate suburb of Chattanooga, which has consistently been ranked #1 Best Places to live in Tennessee and has a robust, growing economy. The immediate area is dense with over 87,000 residents in a five mile radius with an affluent average household income exceeding $107,800.

FOR SALE DETAILS

PRICE

$3,234,000 USD

PRICE/SF

$924 USD /SF

CAP RATE

6%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Zaxby's (Early 10 Year Extension)

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Restaurant

ADD'L SUBTYPES

Fast Food, Freestanding

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2005

SPRINKLERS

-

PARKING SPACES

52

LAND DETAILS

LAND ACRES

0.92 AC

LAND SF

40,284 SF

ZONING

C2

APN/PARCEL ID

110A-B-004

ASK ABOUT THIS PROPERTY

Shannon BonaGraystone Capital AdvisorsMore Info
203-592-4688

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Shannon BonaGraystone Capital AdvisorsMore Info
203-592-4688

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