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Trader Joe’s, Chattanooga, TN

Trader Joe’s

Chattanooga, Tennessee

Price $10,800,000
Cap Rate 3.85%
NOI Contact For Details
Lease Term 10 Years
Lease Type Net, With Tenant Responsible For All Taxes, Insurance, And Maintenance, Excluding Roof And Structure
Rental Increases 10% Rental Increases Every Five (5) Years
Year Built 2021
Building Size Contact For Details
Lot Size 0.75 Acres (32,670 SF)
Status Available
Lead Broker Information Michael T. Yuras, CCIM
Executive Managing Director
415.481.0788
michael.yuras@cushwake.com
CA RE License #01823291

Scott Crowle
Executive Director
415.604.4288
scott.crowle@cushwake.com
CA RE License #01318288

Vincent Aicale
Executive Director
415.690.5522
vince.aicale@cushwake.com
CA RE License #01728696

Ryan Forsyth
Executive Director
415.413.3005
ryan.forsyth@cushwake.com
CA RE License #01716551

Investment Highlights

RARE LONG-TERM LEASE TO TRADER JOE’S
» Trader Joe’s is an American chain of grocery stores with over 530 stores nationwide and $13.3 billion in annual revenue
» 10-year corporate guaranteed net lease with four (4) five (5) year option periods
» Net lease provides an ideal passive investment for an out-of-area investor
» Rental increases every five years, providing a hedge against inflation

HIGH-VISIBILITY LOCATION ON MAJOR TENNESSEE THOROUGHFARE
» High-visibility corner parcel location in prominent Chattanooga corridor, with access to 30,000 vehicles per day directly in front of the site on Gunbarrel Road
» Located immediately near Interstate 75 (112,843 AADT), U.S. Route 64 (28,154 AADT), State Route 153 (77,780 AADT) and State Route 320 (47,340 AADT) increasing traffic to the site
» 107,018 residents live within a five-mile radius of the site providing a large customer base for the location
» Average household income of $83,442 within a three-mile radius of the site
» Projected 12 percent average annual household income increase within five miles of the site in the next five years, poising Chattanooga and Trader Joe’s for significant concurrent growth

CENTRAL LOCATION NEAR COMMUNITY HUBS, LARGE EMPLOYERS AND RETAILERS
» Centrally located near several shopping malls featuring a strong mix of national and regional retailers including, Walmart Supercenter, Hobby Lobby, Lowe’s, Best Buy, Dillard’s, DICK’s Sporting Goods, Bed Bath & Beyond, Target, and many more
» Walking distance to The District at Hamilton Place Apartments (300 units), promoting traffic to the location
» One mile from Erlanger East Hospital, a full-service community hospital and part of the Erlanger Health System, the top employer in Chattanooga

NEW 2021 CONSTRUCTION
» Only Trader Joe’s location within 90 miles of the property
» High-quality construction completed in 2021
» Features latest Trader Joe’s store design and concepts
» 50 dedicated shared parking spaces



Property Description

The property is a high-visibility location in Chattanooga’s most prominent corridor. The site is strategically located on a corner parcel along Gunbarrel Road, with access to 30,000 vehicles per day directly in front of the location. The site is conveniently located near Interstate 75 (112,843 AADT), U.S. Route 64 (28,154 AADT), State Route 153 (77,780 AADT) and State Route 320 (47,340) providing increased traffic to the site. 107,018 residents live within a five-mile radius of the site providing a large customer base for the location. Average household income of $83,442 within a three-mile radius of the site with a projected 12 percent income increase in the next five years, poising Chattanooga and Trader Joe’s for significant concurrent growth.

Centrally located in Chattanooga, the property is close to several shopping malls and centers, community amenities, and large employers. The site is one mile from Erlanger East Hospital, a full-service community hospital and part of the Erlanger Health System, the top employer in Chattanooga. Located in Chattanooga’s primary retail area, the property is surrounded by a strong mix of national and regional retailers including, Walmart Supercenter, Hobby Lobby, Lowe’s, Best Buy, Dillard’s, DICK’s Sporting Goods, Marshalls, Bed Bath & Beyond, Target, and many more. Additionally, the property is within walking distance to The District at Hamilton Place Apartments, a three-story multi-family building with 300 units, increasing foot traffic to the location. It is also the only Trader Joe’s store within 90 miles of the property.

Contact Us About This Property

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