CAVA - Hixson, TN (Chattanooga MSA)
2,500 SF | 100% Leased | 4-Star Retail Building | Chattanooga, TN 37415 | $2,395,000 ($958/SF) | 5.50% Cap Rate
For Sale
Active
- Date Added:
- September 16, 2024
- Days on Market:
- 2 days
Asking Price $2,395,000
- Property Type
-
Retail
- Square Feet
- 2,500 SF
- Price / Square Foot
- $958
Listing Contacts
Andrew Fallon
Verified Profile
Philip Wellde
Verified Profile
- Property Info
Property Overview
• Recently signed a brand new 10-year lease with 4 (5-year) options
• Currently being built and will feature state-of-the-art design using high quality construction materials
• Features 10% rental increases every 5 years throughout the initial lease term and options, growing NOI and hedging against inflation
• Tenant pays for CAM, taxes, and insurance
• Limited landlord responsibilities
• Ideal, low-management investment for a passive investor
• Features a drive-thru pickup window, helping increase customer traffic
• Outparcel to Northgate Mall, an 800,000 square foot mall that features national/credit tenants including T.J. Maxx, Michaels, Ross Dress for Less, Old Navy, and AMC Theatres
• Located a few miles south of Oak Park Town Center, a 182,000 square foot shopping center that is anchored by a Walmart Supercenter
• Positioned just southeast of Towne Center North, a 249,000 square foot center anchored by Target, Burlington, and PetSmart
• Located in the center of a primary retail corridor with other nearby national/credit tenants including Lowe’s Home Improvement, The Home Depot, Publix, Hobby Lobby, Big Lots, and more, further increasing consumer traffic to the site
• Strong tenant synergy promotes crossover shopping to the subject property
• More than 87,200 residents and 37,500 employees support the trade area
• Affluent average household income of $97,438
• Tennessee is one of the most tax-friendly states in the nation as one of the nine states that does not impose income tax. Tennessee is often considered a retirement-freindly state due to its lack of income tax and low cost of living
• Currently being built and will feature state-of-the-art design using high quality construction materials
• Features 10% rental increases every 5 years throughout the initial lease term and options, growing NOI and hedging against inflation
• Tenant pays for CAM, taxes, and insurance
• Limited landlord responsibilities
• Ideal, low-management investment for a passive investor
• Features a drive-thru pickup window, helping increase customer traffic
• Outparcel to Northgate Mall, an 800,000 square foot mall that features national/credit tenants including T.J. Maxx, Michaels, Ross Dress for Less, Old Navy, and AMC Theatres
• Located a few miles south of Oak Park Town Center, a 182,000 square foot shopping center that is anchored by a Walmart Supercenter
• Positioned just southeast of Towne Center North, a 249,000 square foot center anchored by Target, Burlington, and PetSmart
• Located in the center of a primary retail corridor with other nearby national/credit tenants including Lowe’s Home Improvement, The Home Depot, Publix, Hobby Lobby, Big Lots, and more, further increasing consumer traffic to the site
• Strong tenant synergy promotes crossover shopping to the subject property
• More than 87,200 residents and 37,500 employees support the trade area
• Affluent average household income of $97,438
• Tennessee is one of the most tax-friendly states in the nation as one of the nine states that does not impose income tax. Tennessee is often considered a retirement-freindly state due to its lack of income tax and low cost of living
Property Details
- Class
- B
- Year Built
- 2023
- Stories
- 1
- Lot Size (sq. ft)
- 30,492 SF
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