Investment Summary
Price | $2,443,750 |
Cap Rate | |
NOI | |
Lease Term | 25 Years |
Lease Type | Absolute NNN, with Tenant Responsible for All Insurance, Taxes, and Maintenance, Including Roof, Structure, and Parking Lot |
Rental Increases | 1% Annual Rental Increases |
Year Built | 2019 |
Building Size | 2,721 SF |
Lot Size | .84 Acres (36,590 SF) |
Status | Sold |
Lead Brokers | Michael T. Yuras, CCIM Cushman & Wakefield 415.481.0788 michael.yuras@cushwake.com CA RE License #01823291 Scott Crowle Managing Director 415.604.4288 scott.crowle@cushwake.com CA RE License #01318288 Vincent Aicale Cushman & Wakefield 415.690.5522 vince.aicale@cushwake.com CA RE License #01728696 Ryan Forsyth Cushman & Wakefield 415.413.3005 ryan.forsyth@cushwake.com CA RE License #01716551 |
Investment Highlights
25-YEAR ABSOLUTE NNN LEASE
» Operated by Taco Bell’s largest franchisee, with over 350 units
» 25-year NNN lease with absolutely no landlord management, providing an ideal investment for an out-of-area investor
» Rare annual rental increases, providing an excellent hedge against inflation
» 2019 build-to-suit property with a dedicated drive-thru and an outdoor patio
HIGHLY POPULATED LOCATION POISED FOR EXPLOSIVE GROWTH
» Located on North Charles G Seivers Boulevard, which experiences 26,266 vehicles per day in front of the site
» Immediate access and visibility from Interstate 75 (52,396 AADT), one of Tennessee’s most highly trafficked thoroughfares traversing the entire state
» Projected 19 percent AHI increase within 10 miles of the site in the next five years, poising Clinton for explosive growth
» 285,016 residents within a 15-mile radius, attracting traffic to the site
CENTRAL LOCATION IN PRIMARY CLINTON RETAIL CORRIDOR
» Cross access with the only Walmart Supercenter location within a 20-minute drive of the site
» Neighbored by a new Fairfield Inn being constructed in 2020 ($9 million hotel featuring four stories, 80 rooms, and 3,000 SF of meeting space)
» Central location in Downtown Clinton near several well-established local and national retailers, including McDonald’s, Hardee’s, Wendy’s, and many more
» One mile from Anderson County High School (1,124 students), significantly increasing lunch traffic to the site
» 1.6 miles from the Museum of Appalachia (100,000+ annual visitors) and gateway to Norris Dam State Park and Big Ridge State Park, attracting a large tourist customer base
MAJOR NATIONAL TENANT
» Taco Bell serves more than 40 million customers each week in the U.S., with annual sales projected to reach $15 billion by 2022
» Voted Best Mexican Restaurant of 2018 in the Harris Poll 2018
» Owned by Yum! Brands, Inc. (over 48,000 restaurants in more than 145 countries and territories)
Property Description
The property has a prominent location along North Charles G Seivers Boulevard, which experiences 26,666 vehicles per day in front of the site. The location also maintains immediate access and visibility from Interstate 75 (52,396 AADT), one of Tennessee’s most highly trafficked thoroughfares traversing the entire state. The property benefits from its location in a populous and growing area, with 285,016 residents living within a 15-mile radius of the site. The property is primed to grow along with the surrounding area, with a projected 19 percent average annual household income increase within 10 miles of the location in the next five years.
Increased traffic is aided by the property’s central location in Downtown Clinton, which is near several well established local and national retailers, including McDonald’s, Hardee’s, Wendy’s, Arby’s, and many more. The site is neighbored by a new Fairfield Inn constructed in 2020, a $9 million hotel featuring four stories, 80 rooms, and 3,000 SF of meeting space.The site has interparcel access with the only Walmart Supercenter location within a 20-minute drive of the site, and is located one mile from Anderson County High School (1,124 students), significantly increasing lunch traffic to the site. The property serves as a gateway to numerous popular tourist attractions, including the Museum of Appalachia, which resides 1.6 miles away (100,000+ annual visitors), Norris Dam State Park, and Big Ridge State Park.