3629 Outdoor Sportsman Pl - Department Store FOR SALE


Kodak, TN 37764
$12,196,000 USD
480-221-4221
3629 Outdoor Sportsman Pl, Kodak, TN for Sale
$12,196,000 USD
Department Store - FOR SALE
1/12
null | 7.25% Cap Rate

3629 Outdoor Sportsman Pl
Kodak, TN 37764


HIGHLIGHTS

  • Over 6 Years Remaining | Corporate Guaranteed | Essential Business | #2 Ranked Store in the Country
  • Fee Simple Ownership | Strong Sales & Low Price/SF | Percentage Rent
  • Located Just of Interstate 40 | Direct On/Off Ramp Access | Excellent Visibility & Access
  • 20+ Acres of Land | High Intrinsic Value | Excellent Hotel Co-Tenants
  • Nearby Tennessee Smokies Baseball Stadium & Sports Venue | Great Smoky Mountains (Popular Tourist Attraction)
  • Part of New IRS “Opportunity Zone” | Spurs Economic Growth

OVERVIEW

SRS National Net Lease Group is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in a corporate guaranteed, single tenant, Bass Pro Shops Outdoor World investment property located in Kodak, Tennessee (Knoxville MSA). The tenant, Bass Pro Outdoor World, LLC, has more than 6 years remaining in their initial term with 6 (5-year) options to extend. The tenant is operating on a gross lease and is paying percentage rent on gross sales made during each lease year. This location experiences strong sales, paying percentage in lieu of base rent (contact agent for details). The lease is corporate guaranteed by Bass Pro, Inc. The property is also within a newly designated IRS “Opportunity Zone”, allowing for an investor to defer tax obligations or receive other significant tax benefits. Bass Pro Stores nationwide draw over 200 million visitors annually and each store is heavily customized to reflect the character of the region. This Bass Pro location is an Outdoor World specification store which includes the sales of Boats, RV’s, and ATV’s in addition to the standard sportsman and outdoor focused merchandise. This store is located in Sevier County which has grown into a major tourist destination since the establishment of the Great Smoky Mountains National Park, which dominates the southern portion of the county. The area is home to one of the largest tourist resorts (Gatlinburg) in the United States of America, a gateway mountain town to the roughly 520,000-acre Great Smoky Mountains National Park which is the most visited national park in the country. In addition, the nearby 28,000-acre Douglas Lake and 28,800-acre Cherokee Lake are ideal fishing, boating, and hunting destinations that this Bass Pro Shops location directly serves. Finally, a new 200-acre mixed-use development has broken ground across Interstate 40. Notably, the world’s largest convenience store is underway as Buc-ee’s has begun construction on its state-of-the-art, 74,000+ SF convenience store complete with approximately 120 fueling stations, EV Charging Stations and a 250-foot long car wash.

FOR SALE DETAILS

PRICE

$12,196,000 USD

PRICE/SF

$107 USD /SF

CAP RATE

7.25%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Bass Pro Shops

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Department Store

ADD'L SUBTYPES

Freestanding, Storefront

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

2005

SPRINKLERS

-

PARKING SPACES

778

LAND DETAILS

LAND ACRES

21.15 AC

LAND SF

921,294 SF

ZONING

C-5

APN/PARCEL ID

008-022.00

ASK ABOUT THIS PROPERTY

Patrick LutherSRS National Net LeaseMore Info
480-221-4221

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Patrick LutherSRS National Net LeaseMore Info
480-221-4221

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.