809 Highway 51 N - Retail FOR SALE


Covington, TN 38019
$1,438,000 USD
646-805-1438
809 Highway 51 N, Covington, TN for Sale
$1,438,000 USD
Retail - FOR SALE
1/10
null | 5.75% Cap Rate

809 Highway 51 N
Covington, TN 38019


HIGHLIGHTS

  • 12+ Years Remaining | Options To Extend | 10% Rental Increases | Corporate Signature | Drive-Thru Equipped
  • Absolute NNN | Fee Simple Ownership | Zero Landlord Responsibilities
  • Dense Retail Corridor | Steps From Park Plaza
  • Strong Frontage On US-51 (18,600 VPD)
  • Direct Residential Consumer Base

OVERVIEW

• More than 12 years of remaining primary term with two (2) 5-year renewal options, providing stable in-place income and long-term extension potential • 10% rental increases every 5 years during the primary term and at the beginning of each option period support NOI growth and provide a hedge against inflation • The tenant, Popeyes Louisiana Kitchen, Inc., is a corporate entity for Popeyes, one of the world’s largest chicken QSR brands with more than 5,000 locations • The property features drive-thru infrastructure, promoting efficient customer flow and supporting tenant performance

FOR SALE DETAILS

PRICE

$1,438,000 USD

PRICE/SF

$448 USD /SF

CAP RATE

5.75%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Popeyes | Abs NNN | Drive-Thru Equipped

PROPERTY TYPE

Retail

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1986

SPRINKLERS

-

PARKING SPACES

46

LAND DETAILS

LAND ACRES

0.92 AC

LAND SF

40,075 SF

ZONING

-

APN/PARCEL ID

025K A 02200,025K-A-022.00

ASK ABOUT THIS PROPERTY

Michael GrunbergSRS National Net LeaseMore Info
646-805-1438

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Michael GrunbergSRS National Net LeaseMore Info
646-805-1438

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