CAVA

454 Northgate Mall Drive, Hixson, TN 37343

$2,395,000

Cap Rate 5.50%

Views: 180 DOM: 85 Updated: 08.09.24 Posted: 06.15.24 Status: Active

Summary

Price $2,395,000	Built/Renov 2024	Tenant CAVA
Cap Rate 5.50%	Lease Type NN+	Guarantor Corp Traded
Size/SF 2,500	Lease Start 09-29-2024	#Units 331
Price/SF $958.00	Expiration 09-30-2034	Tenant Type Fast Casual/Rest.
NOI $131,625	R. Term 10.0	Ownership Fee Simple
Rent/SF $52.65	Increases 10.0%/5/yrs	Pop 5Mi 87,204
Lot/AC 0.70	Options 4/5yrs/10%	AHHI 5Mi $97,438

Andrew Fallon

SRS National Net Lease Group

Contact

Lease Highlights

Brand new 2024 construction
New 10-year lease with 4 (5-year) options to extend
The lease features 10% rental escalations throughout the initial term and option periods
Favorable NN+ lease with landlord responsible for roof and structure
Corporate guaranteed lease

Location Description

CAVA is strategically positioned on Northgate Mall Drive, benefiting from a robust daily traffic count of 51,800 vehicles. The property is an outparcel to Northgate Mall, which hosts several popular national tenants such as T.J. Maxx, Michaels, Ross Dress for Less, Old Navy, and AMC Theatres. Additionally, it is located just a few miles south of Oak Park Town Center, a shopping center anchored...

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Key Features

New construction
Build to suit
Dense retail corridor
Near major nationals
Major MSA
Income tax free state
Brand new lease
Long 10+ yr lease
Favorable NN+ lease
Corporate Guarantee

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Links

CAVA Wikipedia CAVA Wikipedia Hixson, Tennessee Zip Code 37343 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: CAVA
Guarantor:Corp Traded
Company:CAVA Group
# Units:331
Stock: NYSE: CAVA

About Tenant

CAVA is a Mediterranean culinary brand with a flavorful and healthy fast-casual restaurant experience featuring customizable & craveable salads, bowls, and pitas. CAVA also produces a line of...

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Listing Broker

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