5012 Hixson Pike
Hixson, TN 37343

This is a rare opportunity to get an excellent c-store on a major thoroughfare in Chattanooga. The site is at a signalized corner location with 31,000 to 40,000 cars per day and is adjacent to Northgate Mall. The seller has owned the store about 15-years. The list price is a 6% cap rate of the current income. (see Lease Abstract). Current annual income is $160,642 and the lease is a NNN Lease. The current 20-year lease term ends on 10/31/2023 and provides for six 5-year option terms. Each extension lease term increases the rental rate by 6.5%. You could not ask for a better guarantor for the lease. The guarantor is Touche Card which is a Canadian company that owns over 10,000 c-stores and is the largest operator in North America of c-stores. This store previously was a Golden Gallon and Pantry store. The Hixson sub-market is very strong in terms of residential and retail growth. The other c-store listing for sale with this buyer is at 4806 Highway 58. Listing number 30560985.