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3946 TN-66Rogersville, TN 37857
Long John Silver's
Asset ClassRetail
Deal Size$777 K
Cap Rate: 7.5%Lease-Term Remaining: 8 YearsSquare Feet: 1,888Access Data Room
LONG-TERM ABSOLUTE NNN LEASE
overview of deal

Overview

Price: $777,000 | Cap Rate: 7.50% | NOI: $58,300

  • Guaranty: Corporate
  • Lease Type: Absolute NNN
  • Rent Increases: 10% Every 5 Years
  • Options: 4x5-Year
  • Term Remaining: 7.4+ Years
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Investment Highlights

PRIME RETAIL CORRIDOR POSITIONING LOCATED ACROSS FROM 66 PLAZA AND OTHER NATIONAL RETAILERS INCLUDING WALMART, MCDONALD’S, AND WALGREENS

 

SCALED REGIONAL FRANCHISEE LEASED TO CHARTER FOODS, INC., A LEADING YUM! BRANDS OPERATOR WITH ~300 LOCATIONS ACROSS 13 EASTERN U.S. STATES, PROVIDING EXPERIENCED, MULTI-BRAND TENANCY.

 

LOW-BASIS, TAX-ADVANTAGED INVESTMENT: FEE SIMPLE LONG JOHN SILVER’S IN TENNESSEE — A NO STATE INCOME TAX STATE — OFFERING STRONG AFTER-TAX CASH FLOW AND BELOW-REPLACEMENT-COST BASIS.

 

LONG-TERM ABSOLUTE NNN LEASE 7.4 YEARS REMAINING WITH ZERO LANDLORD RESPONSIBILITIES, 10% RENT INCREASES EVERY 5 YEARS, AND FOUR (4) 5-YEAR RENEWAL OPTIONS FOR DURABLE INCOME AND GROWTH.

 

STRONG VISIBILITY & TRAFFIC COUNTS FRONTAGE ON HIGHWAY 66 WITH ~12,000 VEHICLES PER DAY PROVIDES CONSISTENT EXPOSURE AND CONVENIENT CONSUMER ACCESS.

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3946 TN-66Rogersville, TN 37857

Sales Team

Drew IsaacSenior Managing Director Investments(303) 328-2048drew.isaac@marcusmillichap.com
Jody McKibbenTN Broker of Record

License #: 307629

(615) 997-2900
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