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Taco Bell, Chattanooga, TN

Taco Bell, Chattanooga, TN


Investment Summary

Price $3,057,000
Cap Rate
NOI
Lease Term 25 years
Lease Type Absolute NNN lease, with tenant responsible for all taxes, insurance, and maintenance, including roof, structure, and parking lot
Rental Increases 1% annual rental increases
Year Built 2023
Building Size 2,666 SF
Lot Size 1.00 acres (43,560 SF)
Status Closed
Lead Brokers Michael T. Yuras, CCIM
Vice Chairman
415.481.0788
michael.yuras@cushwake.com
CA RE License #01823291

Scott Crowle
Executive Managing Director
415.604.4288
scott.crowle@cushwake.com
CA RE License #01318288

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

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

Investment Highlights

25-YEAR ABSOLUTE NNN LEASE TO ICONIC QSR TENANT
» 25-year absolute NNN lease to iconic QSR tenant
» Rare annual rental increases, providing an excellent hedge against inflation
» No landlord management, making this an ideal opportunity for an out-of-area investor
» Leased to Tacala, LLC, one of Taco Bell’s largest operators with over 330 units
» Taco Bell serves more than 42 million customers each week in the U.S.

PRIME VISIBILITY LOCATION JUST OFF INTERSTATE 24
» High-visibility and easily accessible location at the confluence of major U.S. thoroughfares
» Located just off Interstate 24 with access to 41,151 vehicles per day
» Central location in between a Pilot Travel Center and a Petro Shopping Center currently under construction
» Proximity to major national retailers, including CVS, Dollar Tree, Quality Inn, Red Roof Inn, McDonald’s, Sonic Drive-in, Ace Hardware, and more

TENNESSEE SUBURB WITH GROWING DEMOGRAPHICS
» 31,676 residents live within fifteen miles of the property
» The population count has steadily increased in Monteagle since 2010, signaling the potential for ongoing growth
» Projected income increases within 5-, 10-, and 15-mile radii over the next five years poise Taco Bell and Chattanooga for steady concurrent growth
» Centralized location between Nashville, Knoxville, and Chattanooga, allowing the site to capture significant commuter traffic
» Monteagle is growing faster than 66% of similarly sized cities since 2000

NEW 2023 CONSTRUCTION IN A TAX-FREE STATE
» New high-quality 2023 construction built to the latest Taco Bell prototype
» Site features covered patio seating and a dedicated drive-thru for added customer convenience
» Tennessee is an income tax-free state

Property Description

SOLD

» This new construction Taco Bell has a high-visibility and easily accessible location at the confluence of major U.S. thoroughfares
» The property is ideally located just off Interstate 24 with access to 41,151 vehicles per day
» Ideally set in a growing retail corridor, the property is surrounded by notable tenants such as CVS, Dollar Tree, Quality Inn, Red Roof Inn, McDonald’s, Sonic Drive-in, Ace Hardware, and many more, creating significant crossover shopping
» The site greatly benefits from its centralized location between Nashville, Knoxville, and Chattanooga, allowing the site to capture significant commuter traffic
» Monteagle is growing faster than 66% of similarly sized cities since 2000
» Projected population and income increases within 5-, 10-, and 15-mile radii over the next five years poise Taco Bell and Monteagle for steady concurrent growth

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