Denny’s Knoxville, Tennessee

$2,024,000
Cap Rate: 6.00%
Property type: Single-Tenant Net Lease

Property Details

Cap Rate: 6.00%
Price: $2,024,000
Rentable SF: 4,582 SF
Annual Rent: $121,423
Rent PSF: $26.50
Land Area: 0.693 Acres
Built/Remodeled: 1997/2017
Lease Type: Modified NNN
Lease Term: 20 Years
Option Periods: 4, 5-Year Options
Rental Increases: 7% Every 5 Years

4834 North Broadway Street
Knoxville, TN 37918

Investment Highlights

  • New, 20-Year, Modified NNN Lease
  • 4, 5-year Renewal Options
  • 7% Rental Increases Every 5 Years Throughout Base Term and Option Periods
  • Dense Retail Corridor
  • Strong Demographics in 5-Mile Trade Area
  • Strong Franchisee

 

Investment Overview

Denny’s located at 4834 North Broadway Street in Knoxville has a brand new, 20-year, modified triple net lease. Tenant pays for CAM, insurance and taxes. There are four, five-year renewal options with seven percent rental increases every five years throughout the base term and option periods, beginning in year 11. The lease is guaranteed by RJC, LLC, a successful 34-unit Denny’s operator and the 6th largest Denny’s franchisee in the U.S.

There are three access points – one along North Braodway Street (44,000 VPD) & U.S. Highway 441, a major thoroughfare traveling through Knoxville, and two along Sanders Drive (14,000 VPD). Also, direct on-off ramp access to Interstate 640 (75,000 VPD).

The subject property is located across the street from a grocery anchored shopping center, increasing consumer traffic and crossover shopping, and within the Harvest Towne Shopping Center with street front signage. Other surrounding retailers include Kroger, Office Depot, Dollar General, Party City, CVS, Walgreens, Panera Bread, Taco Bell, Chick-fil-A and many more. There is over 143,000 residents and 96,000 employees support the trade area, and $51,000 average household income.

For More Information, Download OM: 

Download Barry Wolfe V-Card

Download Alan Lipsky V-Card