Chick-fil-A

3381 North Main Street, Crossville, TN 38555

$5,016,000

Cap Rate 4.50%

Views: 119 DOM: 336 Updated: 06.20.24 Posted: 12.21.23 Status: Active

Summary

Price $5,016,000	Built/Renov 2022	Tenant Chick-fil-A
Cap Rate 4.50%	Lease Type Abs NNN	Guarantor Corporate
Size/SF 4,795	Lease Start 09-01-2022	#Units 2,806
Price/SF $1,046.09	Expiration 09-30-2037	Tenant Type Fast Casual/Rest.
NOI $225,739	R. Term 12.10	Ownership Fee Simple
Rent/SF $47.08	Increases 10.0%/4/yrs	Pop 5Mi 21,357
Lot/AC 2.56	Options 13/5yrs/10%	AHHI 5Mi $65,366

Lease Highlights

Chick-fil-A has 13+ years remaining on the current lease term with 13 (5-year) options
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 guaranteed lease

Location Description

Chick-fil-A is strategically located with excellent access and visibility along North Main Street, with access to 20,727 vehicles passing by daily. The property is positioned just a short distance from Interstate 40 (40,545 VPD), which serves as a vital east-west corridor connecting Nashville to Knoxville. Its strategic position is situated within Crossville’s primary retail commercial hub and...

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Key Features

New construction
Dense retail corridor
Near major nationals
Highway location
Hospital close
Income tax free state
Absolute NNN
Long 10+ yr lease
Limited competition
Corporate Guarantee

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Links

Chick-fil-A Wikipedia Chick-fil-A Wikipedia Crossville, Tennessee Zip Code 38555 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Chick-fil-A
Guarantor:Corporate
Company:Chick-fil-A Inc.
# Units:2,806
Stock:Private

About Tenant

Chick-fil-A is one of the largest American fast-food restaurant chains, and the largest specializing in chicken sandwiches. Chick-fil-A was first opened in 1946 in Atlanta, Georgia, under the name...

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Demographics

	1 Miles	3 Miles	5 Miles
2028 Total Population :	269	7,716	21,694
2023 Total Population :	269	7,529	21,357
2023 Employed Civilian Pop :	115	2,766	8,359
2023 Total Businesses :	100	769	1,253
2023 Average Household Income :	$ 75,037	$ 62,331	$ 65,366
2023 Total Consumer Spending :	$ 7 M	$ 189 M	$ 528 M
2023 Median Age :	44	43	44
2023 Total Households :	113	3,394	9,122
2023 Pop Age 25+: Bachelor's Degree :	26	524	1,537
2023 Average Home Value :	$ 383,607	$ 295,705	$ 267,921

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
	N Main St	2021	4,322	0.42 mi
	N Main St	2021	3,654	0.46 mi
	Commercial Dr	2021	2,994	0.56 mi
	My Yamaha Dr	2021	2,586	0.60 mi
NORTHSIDE DR.	Riverview Dr	2021	7,463	0.82 mi
I- 40	Genesis Rd	2003	34,160	0.88 mi
Hwy 127 N	Spikes Ln	2003	10,580	1.01 mi
	Bradrock St	2021	13,569	1.08 mi
N Main St	Chuckles Pkwy	2003	27,940	1.27 mi
North Main Street	Walker Hill St	2022	18,115	1.34 mi

Listing Broker

Vahe Nokhoudian

Fisher James Capital

Contact

24 Listings
2386 Views
4 Sold

Putnam Daily

Fisher James Capital

Contact

91 Listings
10188 Views
23 Sold

Vahe Nokhoudian

Fisher James Capital is based in San Francisco with partners in Silicon Valley and the East Bay. Specializing in leased investment brokerage, the partners represent private and institutional capital clients on the disposition and acquisition of single and multi-tenant commercial properties nationwide. This multi-market approach works to align capital into sound investments with a specific strategy positioning newly constructed properties to passive investors.

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Putnam Daily

Putnam Daily is the Managing Partner at Fisher James Capital and provides services to private and institutional capital clients on the disposition and acquisition of leased investment properties. Putnam has extensive experience representing developers, owners, and private capital clients on the sale of single and multi-tenant commercial properties nationwide; with a focus on newly constructed retail, industrial, and medical opportunities, he has completed nearly $8 billion in transactions total

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