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Tire Discounters, Chattanooga, TN

Tire Discounters

Chattanooga, TN

Price $2,900,000
Cap Rate
NOI
Lease Term 20 Years
Lease Type Absolute NNN, with Tenant Responsible for all Taxes, Insurance, and Maintenance, Including Roof, Structure, and Parking Lot
Rental Increases 5% Rental Increases Every Five Years
Year Built
Building Size 7,900 SF
Lot Size 1.54 Acres (66,995 SF)
Status Sold
Lead Broker Information Michael T. Yuras, CCIM
Cushman & Wakefield
415.481.0788
michael.yuras@cushwake.com
CA RE License #01823291

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

Vincent Aicale
Cushman & Wakefield
415.690.5522
vince.aicale@cushwake.com
CA RE License #01728696

Ryan Forsyth
Cushman & Wakefield
415.413.3005
ryan.forsyth@cushwake.com
CA RE License #01716551

Investment Highlights

LONG-TERM ABSOLUTE NNN LEASE

» 20-year NNN lease with absolutely no landlord management, providing an ideal investment for an out-of-area investor
» 5% rental increases every five years, providing an excellent hedge against inflation

IMMEDIATE FREEWAY ACCESS IN RETAIL CORRIDOR

» Immediate access to U.S. Highway 27 (55,385 AADT), a main artery from downtown Chattanooga to the residential areas of Signal Mountain, Red Bank, Middle Valley, and more
» Excellent visibility and access to 33,860 vehicles per day on Signal Mountain Road
» Within walking distance of Signal Mountain Village, a large shopping center anchored by Walmart and featuring well-known brands like Great Clips, Dollar Tree, and Cato

PRIME CENTRAL LOCATION WITH STRONG CUSTOMER BASE

» Centrally located just over three miles from downtown Chattanooga
» Directly adjacent to Baylor School (1,040 students)
» Across from Komatsu (420 employees)
» Close proximity to several of the Chattanooga region’s most popular attractions, including the Tennessee Aquarium (780,000+ visitors per year), Tennessee River, and Signal Mountain
» Near the University of Tennessee at Chattanooga (11,533 students and 1,279 employees) and Erlanger Baroness Hospital (657 beds)
» Strong customer base provided by nearby schools, residential neighborhoods, and industrial employers

NEW CONSTRUCTION

» Features latest store designs and concepts
» New building, limiting near-term deferred maintenance or capital costs



Property Description

SOLD

The property is located just off of the signalized intersection of Raider Lane and Signal Mountain Road, with excellent visibility and access to 33,860 vehicles per day. Signal Mountain Road provides convenient access to U.S. Highway 27, located less than half a mile away, which has a traffic count of 55,385 vehicles per day near the property. U.S. Highway 27 serves as a main artery from downtown Chattanooga to the residential areas of Signal Mountain, Red Bank, and Middle Valley. Several notable retailers are located near the property. The property is within walking distance of Signal Mountain Village, a large shopping center anchored by Walmart and featuring well-known brands like Great Clips, Dollar Tree, Cato, and more. Other major retailers in the nearby area include Dollar General, Food City, Dunkin’ Donuts, Verizon, Burger King, and Valvoline, amongst others.

The property benefits from a strong customer base in the surrounding area. The property is directly adjacent to Baylor School, a private prep and boarding school that has 1,040 students. Other nearby schools include Red Bank Elementary School (695 students) and the University of Tennessee at Chattanooga (11,533 students). The property is also directly across from Komatsu, which has 420 employees, and is near other large employers; in total, over 99,000 daytime employees work within a five-mile radius of the property. The property is conveniently located just over three miles from downtown Chattanooga. Several of the Chattanooga region’s most popular attractions are located nearby, including the Tennessee Aquarium, which is rated among the best aquariums in America and draws more than 780,000 visitors each year. Other recreational areas that are close to the property include the Tennessee River and Signal Mountain.

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