Strickland Brothers

330 Central Avenue West, Jamestown, TN 38556

$1,085,000

Cap Rate 6.25%

Views: 132 DOM: 384 Updated: 08.07.24 Posted: 10.27.23 Status: Active

Summary

Price $1,085,000	Built/Renov 2008/2023	Tenant Strickland Brothers
Cap Rate 6.25%	Lease Type Abs NNN	Guarantor Corporate
Size/SF 2,200	Lease Start 07-01-2022	#Units 173
Price/SF $493.18	Expiration 06-30-2037	Tenant Type Automotive
NOI $67,815	R. Term 12.7	Ownership Fee Simple
Rent/SF $30.83	Increases 10.0%/4/yrs	Pop 5Mi 7,852
Lot/AC 1.03	Options 4/5yrs/10%	AHHI 5Mi $53,818

Lease Highlights

Strickland Brothers is currently undergoing renovations scheduled to be completed end of 2023
Tenant has 13+ years remaining on the current lease term with 4 (5-year) options to extend
Lease features 10% rental increase every 5 years throughout the initial term and at the start of each option
Absolute NNN | Zero landlord responsibilities
Corporate guarantee by Princeton Equity Group

Location Description

The subject property is positioned, with excellent access and visibility from Central Ave. W. which sees approximately 8,750 vehicles passing by daily. It is also just a couple blocks from Main St. (21,100 VPD), and less than a mile from a Walmart Supercenter which promotes a strong flow of daily traffic to the area. Surrounding national retailers include Tractor Supply Co., True Value...

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Key Features

Build to suit
Dense retail corridor
Near major nationals
Strategically located
Income tax free state
Absolute NNN
Long 10+ yr lease
Accelerated depreciation
Corporate Guarantee
Over 100 Units backed

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Links

Strickland Brothers Wikipedia Jamestown, Tennessee Zip Code 38556 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Strickland Brothers
Guarantor:Corporate
Company:Princeton Equity Group
# Units:173
Stock:Private

About Tenant

Strickland Brothers is a fast-growing one-stop shop for oil changes and vehicle maintenance services. The company is well-known for its drive-thru 10-minute oil change, and offers a list of...

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Demographics

	1 Miles	3 Miles	5 Miles
2028 Total Population :	1,720	4,873	7,859
2023 Total Population :	1,766	4,916	7,906
2023 Employed Civilian Pop :	518	1,583	2,632
2023 Total Businesses :	227	322	377
2023 Average Household Income :	$ 37,689	$ 43,220	$ 52,253
2023 Total Consumer Spending :	$ 27 M	$ 83 M	$ 161 M
2023 Median Age :	46	45	46
2023 Total Households :	824	2,153	3,421
2023 Pop Age 25+: Bachelor's Degree :	96	329	602
2023 Average Home Value :	$ 163,782	$ 162,633	$ 180,714

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
West Central Avenue	W Mark Twain Ave	2022	3,652	0.03 mi
W Central Ave	Central Ave W	2003	5,450	0.12 mi
N Main St	W Briar Ave	2003	13,240	0.33 mi
North Main Street	Chapman Rd	2022	12,790	0.35 mi
S Main St	Gaudin Ave	2003	8,540	0.50 mi
South Main Street	McGhee St	2022	6,398	0.54 mi
Livingston Highway	W Central Ave	2018	1,803	0.74 mi
Livingston Highway	Choate King Rd	2022	1,760	0.81 mi
SR 52	W Central Ave	2021	1,615	0.81 mi
US 127	Whiteoak St	2022	4,308	0.91 mi

Listing Broker

Aron Cline

Berkeley Capital Advisors

Contact

177 Listings
26875 Views
21 Sold

Calvin Short

Berkeley Capital Advisors

Contact

187 Listings
27849 Views
23 Sold

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

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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