For Sale
$3,000,000

120 General Lee Dr Ringgold, GA 30736

High-performing restaurant, NNN lease, strong ROI.

Overview

Added:
Dec 11, 2024
Days on market:
137
This exceptional investment opportunity presents a thriving 10,200-square-foot Farm to Fork restaurant in Ringgold, Georgia. Located at 120 General Lee Dr, this single-tenant, net-lease property boasts a highly desirable location, less than half a mile from Interstate 75, experiencing significant traffic counts exceeding 93,000 vehicles daily on I-75 and over 30,000 on Battlefield Parkway. The property sits on a 1.35-acre lot and benefits from a strong average household income exceeding $99,000 within a one-mile radius and $92,000 within five miles. Built in 2017, the restaurant enjoys 100% occupancy with a remaining lease term of over 12 years, extending to November 30, 2036, featuring 1% annual rent bumps. The current Net Operating Income (NOI) stands at $226,974, yielding a 7.56% cap rate, and the asking price is $3,000,000 ($294.12 per square foot). Farm to Fork has established a strong reputation, evidenced by a 4.3-star Google rating with over 4,800 reviews. The restaurant includes two large banquet rooms and recently added a porch, enhancing its appeal. Its proximity to a Hampton Inn and SpringHill Suites, along with other retail and commercial establishments, further solidifies its strategic position within the thriving Chattanooga MSA, projected to grow by 3.2% over the next five years. This property offers a compelling combination of strong performance, long-term lease stability, and significant growth potential. The lease includes one five-year option to extend.

Highlights

  • 10,200 SF Farm to Fork restaurant in Ringgold, GA (17 miles SE of Chattanooga, TN).
  • Rent/sales ratio below 6.0%.
  • NNN lease with personal guarantee from successful operator (Hayes Eateries, LLC) with over 12 years remaining and one 5-year option.
  • 4.3-star Google rating (4,800+ reviews).
  • Features two banquet rooms and a recently added $30,000 porch.
  • Annual rent increases of 1.0%.

Property Details for 120 General Lee Dr

Property type
Retail properties, Restaurants
Square Feet
10,200 SF
Year Built
2017
Lot Size (sq. ft)
58,806 SF

Location Insight

City
Ringgold
County
Catoosa
State
Georgia
Latitude
34.9283445
Longitude
-85.1479334

FAQs

What type of property is this?
Retail property - High-performing restaurant, NNN lease, strong ROI.
Where is the retail property located?
The property is located at 120 General Lee Dr Ringgold, GA.
What is the asking price?
The asking price for this property is $3,000,000.
What are key features of this property?
This property features: 10,200 SF Farm to Fork restaurant in Ringgold, GA (17 miles SE of Chattanooga, TN).; Rent/sales ratio below 6.0%.; NNN lease with personal guarantee from successful operator (Hayes Eateries, LLC) with over 12 years remaining and one 5-year option.
How can I contact the broker?
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120 General Lee Dr
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