Chick-fil-A (GL)

770 Winfield Dunn Parkway, Sevierville, TN 37862

$2,666,000

Cap Rate 5.00%

Views: 137 Updated: 12.13.23 Posted: 09.08.23 Status: Inactive

Summary

Price $2,666,000	Built/Renov 2023	Tenant Chick-fil-A (GL)
Cap Rate 5.00%	Lease Type Abs NNN	Guarantor Corporate
Size/SF 4,995	Lease Start 03-02-2023	#Units 2,806
Price/SF $533.73	Expiration 03-01-2043	Tenant Type Fast Casual/Rest.
NOI $133,288	R. Term 18.3	Ownership Ground Lease
Rent/SF $26.68	Increases 10.0%/11/yrs	Pop 5Mi 30,918
Lot/AC 1.90	Options 10/5yrs/10.3%	AHHI 5Mi $77,237

Lease Highlights

New construction 2023 | Double lane drive-thru
Chick-fil-A recently signed a 20-year lease with 10 (5-year) options to extend
The lease features 10% scheduled rental increases throughout the initial term and at the beginning of each option period
Absolute NNN lease | Zero landlord responsibilities
Corporate guaranteed lease

Location Description

This newly constructed, 4,995 square foot Chick-Fil-A, equipped with a double drive-thru lane is positioned facing Winfield Dunn Parkway (62,000 VPD). The asset is an outparcel to Smoky Mountain Gateway, a HomeGoods, and Five Below anchored shopping center which drives consumer traffic to the immediate trade area. It is also an outparcel to a high performing Publix and is positioned next to a...

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Key Features

New construction
High traffic 50M+ VPD
Major thoroughfare
Shopping Ctr out-parcel
Highway location
Income tax free state
Brand new lease
Long 15+ yr lease
Absolute NNN
Corporate Guarantee

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Links

Chick-fil-A Wikipedia Chick-fil-A Wikipedia Sevierville, Tennessee Zip Code 37862 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 :	2,366	14,189	31,798
2023 Total Population :	2,301	13,773	30,930
2023 Employed Civilian Pop :	1,274	6,390	14,933
2023 Total Businesses :	144	993	1,727
2023 Average Household Income :	$ 82,842	$ 73,506	$ 77,172
2023 Total Consumer Spending :	$ 83 M	$ 374 M	$ 851 M
2023 Median Age :	41	40	41
2023 Total Households :	1,142	5,814	12,630
2023 Pop Age 25+: Bachelor's Degree :	617	1,803	3,389
2023 Average Home Value :	$ 279,777	$ 307,038	$ 317,014

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
Winfield Dunn Pkwy	Hwy 66	2003	29,400	0.37 mi
Old Douglas Dam Road	Old Douglas Dam Rd	2022	1,711	0.39 mi
Winfield Dunn Pkwy	Hwy 66	2005	29,560	0.39 mi
OLD KNOXVILLE HWY.	Spring St	2021	8,934	0.51 mi
Old Knoxville Highway	Spring St	2022	8,225	0.51 mi
Winfield Dunn Parkway	Winfield Dunn Pkwy	2022	55,826	0.61 mi
ALLENSVILLE RD.	Old Douglas Dam Rd	2021	6,502	0.70 mi
Allensville Road	Old Douglas Dam Rd	2022	5,991	0.70 mi
Love Road	U St	2022	1,899	0.88 mi
US 411;US 441	Lathem Ln	2021	15,031	0.99 mi

Listing Broker

William Wamble

SRS National Net Lease Group

Contact

186 Listings
20938 Views
49 Sold

Patrick Nutt

SRS National Net Lease Group

Contact

262 Listings
27362 Views
93 Sold

William Wamble

Will Wamble joined SRS in early 2019 and specializes in the advisory and sale of net leased properties, specifically in the Southeast. With more than $350M worth of transactional experience in his career, Will prides himself on valuing hard work and dedication to his clients. Will emphasizes collaboration and putting the best team together to find creative solutions to getting transactions completed. He started his commercial real estate career in 2013 with Marcus & Millichap where he focus

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Patrick Nutt

Patrick Nutt joined SRS as executive vice president for the National Net Lease Group and market leader in the Fort Lauderdale office in 2019. He leads the Fort Lauderdale office where he is tasked with recruiting and expansion efforts in the region and elevating the SRS brand throughout Florida. Additionally, Patrick Co-heads the National Net Lease Group for SRS, a group of 50 investment sales professionals who in 2020 managed over 500 transactions with an aggregate value of nearly $2 Billion

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