Krystal

3150 Broad Street, Chattanooga, TN 37410

$1,423,000

Cap Rate 6.15%

Views: 141 DOM: 284 Updated: 08.12.24 Posted: 03.12.24 Status: Contract 09.04.24

Summary

Price $1,423,000	Built/Renov 2010	Tenant Krystal
Cap Rate 6.15%	Lease Type Abs NNN	Guarantor Corporate
Size/SF 2,082	Lease Start 09-21-2012	#Units 300
Price/SF $683.48	Expiration 09-30-2032	Tenant Type Fast Food/QSR
NOI $87,500	R. Term 7.9	Ownership Fee Simple
Rent/SF $42.03	Increases 1.3%/8/yrs	Pop 5Mi 109,321
Lot/AC 0.63	Options 6/5yrs/1.25%	AHHI 5Mi $81,448

Lease Highlights

Krystal has 8 years remaining on the current lease term with 6 (5-year) options to extend
The lease features 1.25% annual rental escalations throughout the initial term and option periods
Absolute NNN lease | Zero landlord responsibilities
Corporate guaranteed lease

Location Description

Krystal is strategically located on Broad St, with access to 23,550 vehicles passing by daily. The site is within walking distance to Chattanooga Christian School, which serves 1,241 students. Nearby national tenants include Publix, Food City, Walgreens, Dunkin’, Taco Bell, Dollar General, and more. Adjacent to the property is Borough 33 Apartment, a new development featuring a 310-unit...

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Key Features

Dense retail corridor
Near major nationals
Freeway close
Strong demographics
Major MSA
Income tax free state
Absolute NNN
Annual rent increases
Corporate Guarantee
Over 100 Units backed

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Links

Krystal Wikipedia Krystal Wikipedia Chattanooga, Tennessee Zip Code 37408 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Krystal
Guarantor:Corporate
Company:SPB Hospitality
# Units:300
Stock:Private

About Tenant

Krystal is an American regional fast food restaurant chain known for its small, square hamburgers, called sliders in places other than the Southeast, with steamed-in onions. The company has an...

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Demographics

	1 Miles	3 Miles	5 Miles
2028 Total Population :	4,284	47,070	110,943
2023 Total Population :	3,163	45,103	109,321
2023 Employed Civilian Pop :	1,145	18,024	49,040
2023 Total Businesses :	315	3,447	5,543
2023 Average Household Income :	$ 56,275	$ 78,415	$ 81,448
2023 Total Consumer Spending :	$ 69 M	$ 1278 M	$ 3285 M
2023 Median Age :	38	35	38
2023 Total Households :	1,380	18,462	46,003
2023 Pop Age 25+: Bachelor's Degree :	221	5,856	15,775
2023 Average Home Value :	$ 302,177	$ 321,462	$ 325,625

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
West 33rd Street	Walkway	2022	3,225	0.21 mi
US 11;US 41;US 64;US	W 34th St	2021	23,215	0.27 mi
Broad Street	Saint Elmo Ave	2022	21,504	0.27 mi
Broad St	W 28th St	2018	22,822	0.28 mi
Broad Street	Broad St	2022	23,014	0.37 mi
I- 24	Hwy 27	2018	83,115	0.38 mi
Tennessee Avenue	W 38th St	2022	13,803	0.50 mi
SR 17	W 37th St	2021	14,300	0.50 mi
Alton Park Blvd	Calvin Donaldson Elem School	2008	7,894	0.54 mi
West 37th Street	Carl White Pl	2022	4,388	0.57 mi

Listing Broker

Gary Chou

Berkeley Capital Advisors

Contact

34 Listings
6125 Views
0 Sold

Aron Cline

Berkeley Capital Advisors

Contact

177 Listings
30086 Views
21 Sold

Gary Chou

With nearly a decade of experience in commercial real estate sales, Gary Chou leads Berkeley Capital Advisors’ West Coast office with a focus on Single Tenant Net Lease, Net Lease Portfolios, and Corporate Sale Leasebacks. Having brokered over 1,300 transactions totaling $3.5 billion, he and his team are highly regarded as one of the most active brokerage teams in the country and serve some of the world’s largest corporate companies, public and private REITs, private equity funds, developers, f

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Aron Cline

Specializing in Single Tenant Net Lease and Shopping Centers, Aron Cline leads Berkeley Capital Advisors’ West Coast Office. Since 2011, Aron has been actively engaged in the commercial real estate space. Over the last decade, he and his team have been regarded as one of the most active brokerage teams in the country - having brokered over 1,300 transactions totaling $3.5 billion. His dedication and success have earned him the trust of some of the country’s top institutions, developers, high ne

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Calvin Short

Berkeley Capital Advisors

Contact

187 Listings
31221 Views
23 Sold

Calvin Short

Calvin Short joined Berkeley Capital Advisors in 2021 and leads the West Coast capital markets group. Since joining Berkeley, Calvin has been a part of closing 1,400 separate transactions with $4 billion in sales volume. Prior to Berkeley, Calvin served as Senior Vice President at Matthews REIS where he was consistently ranked within Matthews’ top five producing agents. In 2012, he graduated from The University of San Diego with a B.A. in Real Estate Finance. Calvin has spent the past 10 years

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