Famous Dave’s has over 10 years remaining on an Absolute NNN lease with 7% rental escalations every 5 years with four 5 year renewal options. The tenant, Famous Five Dining, Inc., is an experienced 4 unit operator in TN. This is a seasoned, high volume location on a large 1.46 acre parcel. Famous Dave’s has been successfully open and operating since 1998 with an attractive 6.23% rent-to-sales ratio!
The subject property is located in Hermitage, Tennessee, with high drive-by visibility just off the hard corner. Famous Dave’s is a pad site to a Home Depot Anchored Retail Center and nearby national retailers including Lowe’s, Hobby Lobby, Kroger, Bargain Hunt, Big Lots, Goodwill, Dollar General, O’Reilly Auto Parts, etc. The property is just 8 miles from the Grand Ole Opry, a weekly country-music stage concert, showcasing a mix of famous singers – The Opry is a 4,400-seat theatre with state-of-the-art video, lighting & audio systems. Famous Dave’s is also 1.5 miles from TriStar Summit Medical Center.
*In Association With: Southland Realty Corporation