For Sale
$1,400,000

5062 Murfreesboro RdLa Vergne, TN 37086

High-yield Checkers restaurant, absolute NNN lease.

Overview

Added:
Dec 11, 2024
Days on market:
113
This exceptional investment opportunity presents a 1-story, 833 square foot Checkers and Rally's restaurant situated on a 0.72-acre lot in La Vergne, Tennessee. The property boasts a corporate-guaranteed absolute NNN ground lease with 9.4 years remaining, extending to April 29, 2034, with four, five-year renewal options featuring 10% rent increases. Built in 2017, this single-tenant building enjoys 100% occupancy and generates a strong NOI of $70,000, representing a 5.00% cap rate on the $1,400,000 asking price. The property's prime location on Murfreesboro Road (approximately 31,700 cars per day) provides excellent visibility and accessibility. Its strategic placement near a major industrial district, including prominent distribution centers for Amazon, Bridgestone/Firestone, and Home Depot, ensures a substantial customer base. The property benefits from its proximity to Interstate 24 and Nashville International Airport (BNA), further enhancing its appeal. La Vergne's projected population growth of 10% by 2025 and a strong average household income of $75,876 within a five-mile radius underscore the property's long-term investment potential. The property's APN is 015N-A-001.00-000. This is a rare opportunity to acquire a high-performing, low-maintenance investment with a strong tenant and significant upside potential. The price per square foot is $1,680.67.

Highlights

  • Strong brand recognition.
  • Checkers operates over 850 locations with $1.3 billion in annual revenue.
  • High-visibility location on a main retail thoroughfare with direct access to downtown Grand Rapids, MI.
  • High-visibility Murfreesboro Road location with strong frontage; La Vergne, TN, is a Nashville suburb (20 minutes away), projected 10% population growth by 2025.
  • 2.5 miles from I-24, providing direct access to Nashville; less than 10 miles from Nashville International Airport (BNA).
  • High-quality 2017 construction; dense, infill location with over 128,511 residents and a $75,876 average household income within a 5-mile radius.

Property Details for 5062 Murfreesboro Rd

Property type
Retail properties, Restaurants
Square Feet
833 SF
Year Built
2017
Buildings
1
Stories
1
Lot Size (sq. ft)
31,363 SF

Location Insight

City
La Vergne
County
Rutherford
State
Tennessee
Latitude
36.0220911
Longitude
-86.5839418
5062 Murfreesboro Rd, La Vergne, Tennessee

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5062 Murfreesboro Rd
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