x
By submitting, you're allowing YAFC Team to email you regarding available listings. You can unsubscribe anytime.

x

Contact Us

x

Phone: 916-403-1812

Email: McKenney.Houck@cushwake.com

Or contact us using the form below.


7 Brew Ground Lease, Kingsport, TN

7 Brew Ground Lease, Kingsport, TN


Investment Summary

Price $834,000
Cap Rate 6.00%
NOI $50,000
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 2024
Building Size 510 SF
Lot Size 0.40 acres (17,424 SF)
Status Under Contract
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 GUARANTEED 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

STRATEGIC LOCATION ALONG A MAJOR NORTH-SOUTH STATE THOROUGHFARE IN A TAX-FREE STATE
» High-visibility and easily accessible location along State Route 36/Fort Henry Drive, a major north-south thoroughfare traversing the entirety of Kingsport (29,038 AADT)
» Central location between U.S. Route 11 West, Interstate 26, and Interstate 81, allowing the site to capture significant commuter traffic (combined 101,910 AADT)
» Excellent proximity to major traffic drivers such as Fort Henry Mall, Greenacres Shopping Center, Walmart Supercenter, Target, Lowe’s, The Home Depot, ALDI, Kroger, Food City, Big Lots, Andrew Johnson Elementary School (553 students), and many more
» Eight miles from the Tennessee/Virginia borderline, allowing the site to capture both local and long-haul traffic
» Tennessee has no state income tax

BURGEONING TENNESSEE SUBURB POISED FOR STEADY GROWTH
» 71,972 residents live within five miles of the property, creating a reliable customer base for the site
» Average annual household income of $77,169 within a five-mile radius of the property
» Projected 16% income increases within 1-, 3-, and 5-mile radii over the next five years poise 7 Brew and Kingsport for steady concurrent growth
» Future job growth over the next ten years in Kingsport is predicted to be 35.4%, which is well above the projected U.S. average

NEW 2024 CONSTRUCTION FEATURING DUAL-LANE DRIVE THRU
» New high-quality 2024 construction built to latest 7 Brew prototype
» Site features a dual-lane drive-thru for added customer convenience

Property Description

» This 7 Brew has a high-visibility and easily accessible location along State Route 36/Fort Henry Drive, a major north-south thoroughfare traversing the entirety of Kingsport (29,038 AADT)
» The property is centrally located between U.S. Route 11 West, Interstate 26, and Interstate 81, allowing the site to capture significant commuter traffic (combined 101,910 AADT)
» Ideally set in a large retail corridor, the property is surrounded by major traffic drivers such as Fort Henry Mall, Greenacres Shopping Center, Walmart Supercenter, Target, Lowe’s, The Home Depot, ALDI, Kroger, Food City, Big Lots, Andrew Johnson Elementary School (553 students), and many more, creating significant crossover shopping
» The site greatly benefits from its proximity eight miles from the Tennessee/Virginia borderline, allowing the site to capture both local and long-haul traffic
» 71,972 residents live within a five-mile radius of the site, providing a large and reliable customer base
» Projected income increases within 1-, 3-, and 5-mile radii over the next five years poise 7 Brew and Kingsport for steady concurrent growth

Download OM Form

x
JOIN OUR
EMAIL LIST
SUBSCRIBE
Receive Our Latest Single and Multi-Tenant Listings
close-link