Famous Dave’s

Knoxville , TN

Price $2,609,000
Cap Rate 7.00%
TYPE Single-Tenant
STATUS Available
Tenant Famous Dave's
LEASE TYPE NNN
SQUARE FEET 5,632
PRICE/SQ FT $463
YEAR BUILT 1986
LEASE EXP. 2028
LISTING AGENT Justin Zahn
480-214-5088 x102
justin@ciadvisor.com

Property Description

Famous Dave’s has 10+ years remaining on an Absolute NNN lease with 7% bumps every 5 years and four 5-year renewal options. The tenant, Famous Five Dining Is an experience unit operator in Tennessee. This property location is successfully open and operating with an attractive 8.80% rent to sales ratio!

Famous Dave’s is located in Knoxville, Tennessee, with high drive-by visibility from I-40 and I-75, positioned just off the hard corner on the main north/south thoroughfare! The population in the surrounding 1 mile ring has seen a 15.16% growth since 2010! Nearby schools include: University of Tennessee Knoxville, Christian Academy of Knoxville, Knoxville Catholic High School, Webb School of Knoxville, and River’s Edge Christian Academy. The property is located one mile from Parkwest Medical Center. The subject property has nearby retailers including Dicks’ Sporting Goods, Burlington, Lowe’s Home Improvement, The Home Depot, Best Buy, Big Lots, Joann Fabrics, Tuesday Morning, Kroger, Gabe’s, Guitar Center, Walgreens, CVS Pharmacy, Dollar General, Dollar Tree, Harbor Freight Tools, Pet Supermarket, AMC Theatres, Main Event Entertainment, etc.

*In Association With Tennessee Local Broker: Southland Realty Corporation

Property Highlights

  • 10+ Years Remaining on an Absolute NNN Lease with 7% Rental Escalations every 5 Years
  • Seasoned location: Successfully Open & Operating with an Attractive 8.80% Rent-to-Sales Ratio!
  • Total Population (5 MI): 128,216 | Avg HH Income (5 MI): $91,184 | Population Growth 2010-2017 (1-Mi Ring): 15.16%
  • Tenant: Famous Five Dining, Inc. is an Experienced 4-Unit Operator in TN
  • High Drive-by Visibility from I-40/I-75. Positioned just off the Hard Corner on the Main North/South Thoroughfare where Traffic Counts Exceed 19,500 CPD!
  • Nearby Retailers include Dicks’ Sporting Goods, Burlington, Lowe’s Home Improvement, The Home Depot, Best Buy, Big Lots, Joann Fabrics, Tuesday Morning, Kroger, Gabe’s, Guitar Center, Walgreens, CVS Pharmacy, Dollar General, Dollar Tree, Harbor Freight Tools, Pet Supermarket, AMC Theatres, Main Event Entertainment, etc.