574 Northgate Mall dr | Hixson, TN 37343
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574 Northgate Mall dr
Hixson, TN 37343
Miller’s Ale House - Abs NNN, 10 Yrs Term · Retail Property For Sale
Investment Highlights
- Absolute NNN, Single-Tenant Miller*s Ale*House Positioned Directly In Front of Northgate Mall at the TN-153 & Hixson Pike Interchange
- Newer Construction (2022): Desirable Curb Appeal and Excellent Visibility from TN-153
- Upgraded Exterior Featuring Brick, Stucco and Oversized Windows and Garage Door Patio with Highly Visible Monument Signage
- Desirable Newer Lease with 10-Years of Term Remaining, Mid-Term Annual Increases, and (4) 5-Year Options to Extend
- Ideal Demographics in High Barrier-to-Entry, Growing Market: Densely Populated Area with 85k+ People & Average Household Incomes Over $91k+ (5 mile)
- Strategic Location in Direct Vicinity (0.8 Miles) of CHI Memorial Hixson with More Than 3,500 Employees, 660+ Medical Staff Members and 500 Volunteers
Executive Summary
Strong Tenancy: National Competitor Based on Its Diverse Menu with Expected Significant Growth of Opening 10-15 New Restaurants Per Year - Currently 100+ Locations in 10 States
Highly Visible Signage, Ease of Access Off Northgate Mall Drive Encircling the Mall & Outparcel Shops (83,885+ VPD Surrounding the Property) and Multiple Points of Ingress/Egress
Strategic Location in Direct Vicinity (0.8 Miles) of CHI Memorial Hixson with More Than 3,500 Employees, 660+ Medical Staff Members and 500 Volunteers
Chattanooga Suburb (7.5 Miles to Downtown) & Easily Accessible Location, Just 8 Miles North of the Chattanooga Airport
Highly Visible Signage, Ease of Access Off Northgate Mall Drive Encircling the Mall & Outparcel Shops (83,885+ VPD Surrounding the Property) and Multiple Points of Ingress/Egress
Strategic Location in Direct Vicinity (0.8 Miles) of CHI Memorial Hixson with More Than 3,500 Employees, 660+ Medical Staff Members and 500 Volunteers
Chattanooga Suburb (7.5 Miles to Downtown) & Easily Accessible Location, Just 8 Miles North of the Chattanooga Airport
PROPERTY FACTS
Sale Type
Investment
Sale Condition
1031 Exchange
Property Type
Retail
Property Subtype
Restaurant
Building Size
6,343 SF
Year Built
2022
Price
$4,475,000
Price Per SF
$706
Cap Rate
5.50%
NOI
$246,157
Tenancy
Single
Building Height
1 Story
Building FAR
0.10
Land Acres
1.50 AC
Parking
150 Spaces (23.65 Spaces per 1,000 SF Leased)
Amenities
- Signage
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $0 | |
| Land Assessment | $0 | Total Assessment | $3,035,200 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$3,035,200
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