712 US Hwy 51 - Restaurant FOR SALE


Covington, TN 38019
$1,385,000 USD
858-822-9811
712 US Hwy 51, Covington, TN for Sale
$1,385,000 USD
Restaurant - FOR SALE
1/11
null | 6.8% Cap Rate

712 US Hwy 51
Covington, TN 38019


HIGHLIGHTS

  • New 10 Year Absolute NNN Lease with Personal Guaranty
  • Brand New Construction, Tenant Opened June 2024
  • Six 5-Year Options with Fixed 10% Increases Every 5 Years
  • Ideally Located off Hwy 51, a Major Retail Thoroughfare
  • Scooter's Coffee Ranked #2 on Entrepreneur's Franchise 500 List in 2024
  • A Fast Growing U.S. Franchise Brand with Over 800 Locations

OVERVIEW

This brand new Scooter’s Coffee asset opened in June 2024 and offers a 10 Year Absolute NNN Lease with six 5-year renewal options and fixed 10% rent increases every 5 years. The subject property is ideally located in a prime retail trade area off of Hwy 51, a major retail thoroughfare. The newly constructed site sits on 0.84 acre lot with excellent visibility, access, and frontage. The subject property is in close proximity to several national retailers such as Family Dollar, Walgreens, Dollar General, O’Reilly Auto Parts, and more. The site is nearby several hotels with over 250+ rooms combined in a 1 mile radius and is within 2.5 miles from Walmart anchored shopping center with multiple national retailers. This Scooter’s Coffee location is within 4 miles of Dyersburg State Community College (±2,683 average annual student enrollment) and Baptist Memorial Hospital-Tipton with approximately 210 employees. Scooter’s Coffee is a fast growing U.S. franchise brand with over 800 locations and is ranked #2 on Entrepreneur’s Franchise 500 list in 2024. Watch Property Video: https://vimeo.com/999045880?share=copy

FOR SALE DETAILS

PRICE

$1,385,000 USD

PRICE/SF

$2,086 USD /SF

CAP RATE

6.8%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Scooter's Coffee (Covington, TN)

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Restaurant

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2024

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.89 AC

LAND SF

38,768 SF

ZONING

-

APN/PARCEL ID

025N-C-020.01

ASK ABOUT THIS PROPERTY

Ryan GomezCushman & WakefieldMore Info
858-822-9811

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Ryan GomezCushman & WakefieldMore Info
858-822-9811

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