Retail•Vehicle Related•For Sale
5020 Little Debbie Parkway, Ooltewah, Tennessee 37363
Silver Fox NNN Capital Group is offering the sale of this new construction Circle K Groud Lease in Ooltewah, TN (Chattanooga MSA). This single tenant ground lease investment offers a 20-year initial term with approximately 17.2 years remaining. Rental rate increase of 5% at year 11 and 3% increases at each renewal option (two 5-year options). The absolute NNN lease is corporately guaranteed by Circle K, which holds a credit rating of “BBB” by Standard & Poor’s.
The site is situated at 1.90 acres at the hard, signalized intersection of State Route 317 (Apison Pike) and Little Debbie Parkway. The property features two points of ingress/egress, 14 pumps and a 5,000 square foot convenience store.
Chattanooga is a city located in Hamilton County, southeastern Tennessee, along the Tennessee River bordering Georgia. With an estimated population of 179,139 in 2017, it is the fourth-largest city in Tennessee and one of the two principal cities of East Tennessee, along with Knoxville. Served by multiple railroads and Interstate highways, Chattanooga is a transit hub. Chattanooga lies 118 miles northwest of Atlanta, Georgia, 112 miles southwest of Knoxville, Tennessee and 134 miles southeast of Nashville, Tennessee
Chattanooga's Metropolitan Statistical Area, which includes Hamilton, Marion, and Sequatchie counties in Tennessee and Catoosa, Dade, and Walker counties in Georgia, grew from 476,531 people, as of the 2000 census, to 529,222 people, as of the 2010 census, an 11% increase during the 2000s.
The city, with a downtown elevation of approximately 680 feet, lies at the transition between the ridge-and-valley portion of the Appalachian Mountains and the Cumberland Plateau. Surrounded by mountains and ridges, the official nickname for Chattanooga is "Scenic City", reinforced by the city's reputation for outdoor activities. Chattanooga is home to the University of Tennessee at Chattanooga (UTC) and Chattanooga State Community College.
- Corporately guaranteed, ground lease with Circle K
- Investment grade tenant with S&P's credit rating of "BBB"
- Absolute NNN lease with no landlord responsibilities
- New construction with 20-year initial term and 17.2 years remaining
- 5% rental rate increase at year 11 and 3% increase at each renewal option
- Four 5-year renewal options through November 2051
9/5/2019 2:17:59 PM
11/25/2019 6:48:32 PM