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Restaurant

Hardee's (Dark)

369 Lindsay Street, Alcoa, TN 37701

Listing Price: $1,215,000

Cap Rate
7.50%
Tenant Name
Hardees
Years Remaining On Lease
9.4
Guarantor
Corporate Guarantee
Rentable SF
4,072
Lease Type
Absolute Net
Rent Per Square Feet
$22.37

Investment Overview

The subject property consists of a 4,072 square foot freestanding restaurant with drive thru. The building is currently dark however it is still subject to an absolute NNN lease with Hardee's Food Systems, Inc. until December 31, 2013. The lease calls for one additional 10% increase in 2027. The long term income stream provides an excellent opportunity to redevelop and/or re-tenant the property. Additionally, the current tenant has expressed an interest in negotiating a buyout of the lease. Located 16 miles south of Downtown Knoxville, 4 miles from the Knoxville Airport (TYS), and 20 miles from the entrance to the Great Smokey Mountains National Park, the subject property is ideally situated.

Investment Highlights

  • 9+ years remaining on an absolute NNN corporate lease with Hardee's Food Systems, Inc.
  • Signalized intersection across from 370,000 square foot New Midland Plaza
  • 4,072 square foot building situated on a large .92 AC lot

Exclusively Listed By

Broker of Record

  • Jody McKibben

    First Vice President/Regional Manager

    (615) 997-2800

    License(s) TN: 307629

    Tennessee

Financing By

Restaurant

Hardee's (Dark)

Listing Price: $1,215,000

Cap Rate
7.50%
Tenant Name
Hardees
Years Remaining On Lease
9.4
Guarantor
Corporate Guarantee
Rentable SF
4,072
Lease Type
Absolute Net
Rent Per Square Feet
$22.37

Investment Highlights

  • 9+ years remaining on an absolute NNN corporate lease with Hardee's Food Systems, Inc.
  • Signalized intersection across from 370,000 square foot New Midland Plaza
  • 4,072 square foot building situated on a large .92 AC lot

Investment Overview

The subject property consists of a 4,072 square foot freestanding restaurant with drive thru. The building is currently dark however it is still subject to an absolute NNN lease with Hardee's Food Systems, Inc. until December 31, 2013. The lease calls for one additional 10% increase in 2027. The long term income stream provides an excellent opportunity to redevelop and/or re-tenant the property. Additionally, the current tenant has expressed an interest in negotiating a buyout of the lease. Located 16 miles south of Downtown Knoxville, 4 miles from the Knoxville Airport (TYS), and 20 miles from the entrance to the Great Smokey Mountains National Park, the subject property is ideally situated.

Exclusively Listed By

Broker of Record

  • Jody McKibben

    First Vice President/Regional Manager

    (615) 997-2800

    License(s): TN: 307629

    Tennessee

Financing By

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