NNN Retail Investment-Service King

Retail-Commercial for Sale
Catylist Listing ID: 30151769
Property Subtypes: Vehicle Related
Building Size (RSF): 15,060 SF
Gross Land Area: 3.04 Acres
Sale Price: $2,151,724
Unit Price: $142.88 PSF
Property Use Type: Net Leased Investment (NNN)
Building Name: Service King
Sale Terms: Cash to Seller
Cap Rate: 7.25%
Last Updated: 11/7/2017

Overview / Comments

Represents the NNN-lease of Service King, one of the largest collision centers in the US with 324+ locations. Service King is owned by The Blackstone Group, the largest real property holder in the world. 8 of 10 years remaining on initial term followed by (3) five year options. 10% rent escalation at Yr 6 and the beginning of each option.

Maryville is home to Denso Manufacturing who just announced a $1 billion expansion and 1,000 new jobs. This is in addition to the $1 billion + existing campus and thousands of jobs.

Attachments & Media

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Current Tenants

Tenant Business Name Service King
Is Renting? Yes
Current Rent $156,000 PSF (Annual)
Lease Expiration 7/2025
Escalations 10% at Yr6 and each option renewal
Options (3) five year

Additional Details

Nearest MSA: Knoxville
County: Blount
Tax ID/APN: 078 074.00
Property Visibility: Excellent
Tenancy: Single Tenant
Property Condition: Excellent
Year Built: 2012

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 1,804 22,003 59,957
Median Age: 44 41.14 40.36
Households: 716 8,694 23,524

Contact

Photograph of Listing Agent

David Shanks

Shanks & Associates KAAR CIE Member
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