For Sale
$1,600,000

2815 Broadway StKnoxville, TN 37917

High-yield QSR, strong tenant, long lease.

Overview

Added:
Dec 11, 2024
Days on market:
113
This exceptional investment opportunity presents a single-tenant, absolute NNN leased Quick Service Restaurant (QSR) located at 2815 N Broadway, Knoxville, Tennessee 37917. The property, featuring The Krystal Company as the tenant, boasts a 2,652 square foot building on a 1.12-acre lot, situated in a high-traffic area with approximately 30,000 cars daily. The building, constructed in 1976 and renovated in 2019, includes a drive-thru and is zoned C-G-2. The current lease, commenced March 1, 2019, has a remaining term of 9.3 years, expiring March 14, 2034, with 6 x 5-year lease options. The lease is an absolute NNN (Triple Net) lease with a franchisee tenant and includes 1% annual rent bumps. The property offers a 5.80% cap rate and a strong Net Operating Income (NOI) of $92,727. This represents a compelling investment opportunity in a thriving Knoxville market, offering long-term stability and attractive returns for investors seeking established assets. The property's location on a signalized corner further enhances its visibility and accessibility. The property's parcel numbers are 081DB018 and 081DB017.

Highlights

  • Long-Term Occupancy with a franchisee tenant and 6 x 5-year lease options.
  • Extended Lease Term of 9.3 years remaining, expiring March 14, 2034.
  • Absolute NNN Lease structure with 1% annual rent increases.
  • High-Traffic Location in a growing Knoxville market with approximately 30,000 cars daily passing a signalized corner.
  • Strong Investment Metrics: 5.80% cap rate and $92,727 NOI.

Property Details for 2815 Broadway St

Property type
Retail properties, Restaurants
Square Feet
2,652 SF
Class
A
Year Built/Renovated
1976/2019
Buildings
1
Stories
1
Lot Size (sq. ft)
48,787 SF
Units
1

Location Insight

City
Knoxville
County
Knox
State
Tennessee
Latitude
35.997094132038
Longitude
-83.924263007697
2815 Broadway St, Knoxville, Tennessee

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2815 Broadway St
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