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Views: 83 Updated: 12.21.23 Posted: 05.09.23 Status: Inactive

Summary

Price $7,948,000
Built/Renov 2019
Tenant At Home
Cap Rate 7.75%
Lease Type Abs NNN
Guarantor Corp Rated
Size/SF 87,365
Lease Start 08-01-2019
#Units 262
Price/SF $90.97
Expiration 07-31-2035
Tenant Type Big Box Retail
NOI $616,000
R. Term 10.7
Ownership Fee Simple
Rent/SF $7.05
Increases 10.0%/12/yrs
Pop 5Mi 169,700
Lot/AC 5.35
Options 3/5yrs/10%
AHHI 5Mi $71,636

Lease Highlights

  • At Home has been operating in this location since 2019
  • Tenant has over 12 years remaining on its current lease with 3 (5-year) options to extend
  • Lease features a rental increase of 10% at the start of the first option period and 5% at the start of each subsequent option period
  • Absolute NNN with zero landlord responsibilities
  • Corporate guarantee by Hellman & Friedman
  • Tennessee is a no income tax state

Location Description

At Home is prominently situated with excellent access and visibility within a dense retail hub adjacent to the junction of James H Quillen Parkway/I-26 39,934 vehicles passing per day and N State of Franklin Road/TN-381 25,730 vehicles passing per day. The property benefits from excellent co-tenancy within a growing shopping center adjacent to a new Hobby Lobby, Guitar Center, and Holston...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: At Home
  • Guarantor:Corp Rated
  • Company:Hellman & Friedman
  • # Units:262
  • Stock:Private

About Tenant

At Home Stores LLC, dba At Home, is an American chain of home decor stores. With an average footprint of 110,000 square feet, At Home offers up to 50,000 home products including furniture,...


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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 5,002 34,916 82,229
2023 Total Population : 4,628 34,099 80,772
2023 Employed Civilian Pop : 2,226 15,714 36,209
2023 Total Businesses : 570 2,040 3,396
2023 Average Household Income : $ 102,962 $ 97,885 $ 90,646
2023 Total Consumer Spending : $ 190 M $ 1305 M $ 2686 M
2023 Median Age : 50 46 40
2023 Total Households : 2,151 15,398 34,062
2023 Pop Age 25+: Bachelor's Degree : 1,134 6,107 13,237
2023 Average Home Value : $ 306,488 $ 301,733 $ 289,673
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
N State of Franklin Rd 2022 6,298 0.14 mi
Foxx St 2022 6,243 0.16 mi
I- 181 Browns Mill Rd 2003 37,480 0.29 mi
I- 181 2022 11,172 0.31 mi
N State of Franklin Rd 2022 11,613 0.32 mi
Browns Mill Road Burkley Ct 2022 2,021 0.33 mi
Peoples Street Hanover Rd 2022 7,605 0.36 mi
Browns Mill Rd 2022 17,061 0.47 mi
Browns Mill Rd 2021 17,381 0.47 mi
West Oakland Avenue Vernon St 2022 9,541 0.51 mi

Listing Broker

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