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7 Brew Ground Lease, Elizabethton, TN

7 Brew Ground Lease, Elizabethton, TN


Investment Summary

Price $1,563,000
Cap Rate 6.40%
NOI $100,000
Lease Term 15 years
Lease Type Absolute NNN ground lease, with tenant responsible for all taxes, insurance, and maintenance, including roof, structure, and parking lot
Rental Increases 10% rental increases every five (5) years
Year Built 2023
Building Size 540 SF
Lot Size 1.10 acres (47,916 SF)
Status Available
Lead Brokers Scott Crowle
Executive Managing Director
415.604.4288
scott.crowle@cushwake.com
CA RE License #01318288

Michael T. Yuras, CCIM
Vice Chairman
415.481.0788
michael.yuras@cushwake.com
CA RE License #01823291

Jack Hinson
Brokerage
704.572.9921
j.hinson@cushwake.com
CA RE License #02059267

Vincent Aicale
Vice Chairman
415.690.5522
vince.aicale@cushwake.com
CA RE License #01728696

Ryan Forsyth
Vice Chairman
415.413.3005
ryan.forsyth@cushwake.com
CA RE License #01716551

Investment Highlights

15-YEAR ABSOLUTE NNN GROUND LEASE TO RAPIDLY GROWING COFFEE CHAIN
» 15-year absolute NNN ground lease to 7 Brew
» Arkansas-based 7 Brew was founded in 2016 and has since surpassed 150 stores open and operating in 25+ states, with the rights to over 3,000 units already sold to franchisees
» Leased to Brew Team TN, LLC, one of the largest 7 Brew franchisees in the entire system, with 31 stores open and operating, 8 stores currently under construction, and an additional 50 stores that will be opened in 2024
» 10% rental increases every five (5) years throughout the initial term and option periods
» No landlord management, making this an ideal opportunity for an out-of-area or passive investor

LOCATED IN ELIZABETHTON’S PRIMARY RETAIL CORRIDOR IN TAX-FREE STATE
» Prominent location along U.S. Route 321 / West Elk Avenue with access to more than 32,608 vehicles per day passing directly in front of the site
» Located less than two miles from U.S. Route 19E (21,240 AADT), a major thoroughfare connecting Elizabethton to Bristol, Tennessee and Asheville, North Carolina, allowing the site to capture an immense amount of commuter traffic
» Beneficial proximity to schools and employers, including Elizabethton High School (860 students), T.A. Dugger Junior High School (629 students), West Side Elementary School (370 students), and Sycamore Shoals Hospital (an award-winning 121-bed facility on a 27-acre medical campus)
» Immediately surrounded by major traffic-driving tenants such as Walmart Supercenter, Lowe’s Home Improvement, Harbor Freight Tools, Tractor Supply Co, Bealls Outlet, Food City, and many more
» Other national retail chains in the area include Chick-fil-A, McDonald’s, Dairy Queen, Burger King, Zaxby’s Chicken Fingers & Buffalo Wings, Taco Bell, Apple Bee’s Grill + Bar, and Waffle House

TENNESSEE SUBURB POISED FOR STEADY CONCURRENT GROWTH
» 33,343 residents live within five miles of the property, creating a large and stable customer base for the site
» Supported by an average annual household income of $62,423 within a five-mile radius
» Projected 16+% income increases within 1-, 3-, and 5-mile radii over the next five years poise 7 Brew and Elizabethton for steady concurrent growth

NEW 2023 CONSTRUCTION FEATURING DUAL-LANE DRIVE-THRU
» High-quality 2023 construction built to the latest 7 Brew prototype, featuring a dedicated dual-lane drive-thru for added customer convenience

Property Description

» Prominent Location Near Major U.S. Thoroughfares: Located along U.S. Route 321 / West Elk Avenue and two miles from U.S. Route 19E (combined 53,848 AADT)
» Dense Retail Corridor: This 7 Brew will capture a significant amount of crossover traffic from shoppers in this retail corridor as well as from other nearby national retailers including Walmart Supercenter, Lowe’s Home Improvement, Harbor Freight Tools, Tractor Supply Co, Bealls Outlet, Food City, Chick-fil-A, McDonald’s, and Taco Bell
» Reliable Customer Base: In addition to the five-mile radius population of 33,343, the site is surrounded by well-attended schools such as Elizabethton High School (860 students) and T.A. Dugger Junior High School (629 students)
» Beneficial Proximity to A Major Employer: This property is less than 1.5 miles from Sycamore Shoals Hospital (an award-winning 121-bed facility on a 27-acre medical campus)
» New 2023 Construction: The subject property is built to the latest 7 Brew prototype featuring a dedicated dual-lane drive-thru for added customer convenience

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