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Taco Bell, Knoxville, TN

Taco Bell, Knoxville, TN


Investment Summary

Price $3,096,000
Cap Rate 5.25%
NOI $162,500
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 TBD
Lot Size 0.624 acres (27,181 SF)
Status Available
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
» Six (6) option periods of five (5) years each
» Rare annual rental increases, providing an excellent long-term and secure money-generator
» No landlord management, making this an ideal opportunity for a local or 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 LOCATION AT THE CONFLUENCE OF MAJOR KNOXVILLE THOROUGHFARES
» High-visibility and easily accessible location near the signalized four-way intersection of State Route 62/Oak Ridge Highway and Schaad Road (combined 40,329 AADT)
» Outparcel to a Big Orange Storage location, attracting direct crossover shopping to the site
» Excellent proximity to major national tenants such as Walmart Supercenter, Target, The Home Depot, Lowe’s, Kroger, Food Lion, ALDI, Walmart Neighborhood Market, Chick-fil-A, McDonald’s, and many more
» Located directly southwest of Knoxville Municipal Golf Course
» Beneficial proximity to high-enrollment schools, including Karns Middle School and Amherst Elementary School (combined 1,637 students)

DENSELY POPULATED AND GROWING TENNESSEE SUBURB LEADING DIRECTLY TO DOWNTOWN KNOXVILLE
» 130,279 residents live within five miles of the property
» Excellent average annual household income of $105,244 within one mile of the location
» Projected population and income increases within 1-, 3-, and 5-mile radii over the next five years poise Taco Bell and Knoxville for steady concurrent growth
» Eight miles from Downtown Knoxville, the city’s central business district (population 190,740), allowing the site to capture immense tourist and commuter traffic

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

Property Description

» This new construction Taco Bell is a high-visibility and easily accessible location near the signalized four-way intersection of State Route 62/Oak Ridge Highway and Schaad Road (combined 40,329 AADT)
» The property is ideally located outparcel to a Big Orange Storage and surrounded by major national tenants such as Walmart Supercenter, Target, The Home Depot, Lowe’s, Kroger, Food Lion, ALDI, Walmart Neighborhood Market, Chick-fil-A, McDonald’s, and many more, attracting direct crossover shopping to the site
» The site is a trophy location directly southwest of Knoxville Municipal Golf Course and near Karns Middle School and Amherst Elementary School (combined 1,637 students)
» 130,279 residents live within five miles of the property, providing a large and reliable customer base for the site
» An excellent average annual household income of $105,244 within one mile of the site provides an affluent demographic
» The property greatly benefits from its centralized location eight miles from Downtown Knoxville, the city’s central business district (population 190,740), allowing the site to capture immense tourist and commuter traffic
» Projected population and income increases within 1-, 3-, and 5-mile radii over the next five years poise Taco Bell and Knoxville for steady concurrent growth

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