Scooter's Coffee

712 Highway 51, Covington, TN 38019

$1,385,000

Cap Rate 6.80%

Views: 18 DOM: 8 Updated: 11.01.24 Posted: 11.01.24 Status: Active

Summary

Price $1,385,000	Built/Renov 2024	Tenant Scooter's Coffee
Cap Rate 6.80%	Lease Type Abs NNN	Guarantor Franchisee
Size/SF 664	Lease Start 06-30-2024	#Units 800
Price/SF $2,085.84	Expiration 06-30-2034	Tenant Type Fast Food/QSR
NOI $94,169	R. Term 9.7	Ownership Fee Simple
Rent/SF $141.82	Increases 10.0%/5/yrs	Pop 5Mi 13,344
Lot/AC 0.89	Options 6/5yrs/10%	AHHI 5Mi $58,444

Ryan Gomez

Cushman & Wakefield

Contact

Lease Highlights

Brand new construction | Opened June 2024
New 10-year lease with 6 (5-year) options to extend
10% rental increases every 5 years
Absolute NNN lease | Zero landlord responsibilities
Scooter’s Coffee ranked #2 on Entrepreneur’s Franchise 500 list in 2024
Personal guaranty

Location Description

Scooter's Coffee is strategically located on Highway 51, with access to 20,934 vehicles passing by daily. The property is within one mile of several hotels, offering over 250 rooms, and is in close proximity to prominent national retailers, including Family Dollar, Walgreens, Dollar General, O'Reilly Auto Parts, and more. Additionally, it is situated within a four-mile radius of Dyersburg...

...

Key Features

New construction
Major thoroughfare
Near major nationals
Highway location
Top 100 MSA
Income tax free state
Brand new lease
Absolute NNN
Long 10+ yr lease
Personal guarantee

...

Links

Scooter's Coffee Wikipedia Scooter's Coffee Wikipedia Covington, Tennessee Zip Code 38019 Broker Site Page Drone video

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Scooter's Coffee
Guarantor:Franchisee
Company:Pyramid Coffee, LLC
# Units:800
Stock:Private

About Tenant

Founded in 1998, Scooter's Coffee is a specialty coffee franchise brand that is known for its drive-thru coffee kiosks and coffeehouses. The company is the second-largest drive-thru coffee...

...

Listing Broker

Disclaimer & Confidentiality

All information, content, data, and other materials on this Platform (“Content”) is made available to you on an “AS IS” basis without warranties of any kind, express or implied. All such Content is made available for informational purposes only and should not be relied on by you for any purpose. Content may contain errors, may be inaccurate or incomplete and/or, due to changing circumstances or other causes, may change or ultimately prove to be inaccurate or incomplete. Other than as set forth in our Terms of Service we do not have any control over your use of our Services or any Content. You should not use any such Services or any Content without validating the results through independent research, obtaining up-to-date information, and considering all relevant facts and circumstances, including your specific situation (financial or otherwise). We do not recommend, guarantee, or represent that the Services or any Content will predict the future performance of real estate assets or other assets of any kind. Moreover, we do not warrant the performance or results that may be obtained by using any of the foregoing. WE ARE NOT ENGAGED IN RENDERING TAX, LEGAL, INVESTMENT, FINANCIAL OR RISK MANAGEMENT ADVICE, AND THE RESULTS OF USE OF OUR SERVICES AND ANY CONTENT MUST NOT BE REGARDED OR REPRESENTED AS CONSTITUTING SUCH ADVICE. WE DO NOT MAKE ANY REPRESENTATIONS OR WARRANTIES REGARDING THE ACCURACY OF ANY CONTENT AND/OR PROJECTIONS GENERATED BY THE SERVICES OR ANY CONTENT