United Grocery Outlet

Retail-Commercial for Sale
Catylist Listing ID: 30224539
Property Subtypes: Free-Standing Building
Building Size (RSF): 20,000 SF
Gross Building Area: See Agent
Gross Land Area: 2 Acres
Sale Price: $590,000
Unit Price: $29.50 PSF
Property Use Type: Investment
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 5/18/2018

Overview / Comments

Single-tenant grocery retailer in Harriman, TN. 5 years remaining on initial term with two 5-year options. 10 percent rent increases during each option. Tenant has agreed to execute first option at close of sale to create 10-year lease obligation. Tenant pays percentage rent of 1.75% of sales subject to a monthly minimum. Landlord responsible for roof, parking lot, and HVAC above $1,000. Tenant responsible for real estate taxes in excess of those assessed in 2013 (year of lease execution).

Grocery Outlet is a brand of Bargain Barn/United Grocery Outlet, the largest closeout grocer in the Southeast with 36 locations.

Additional Details

Nearest MSA: Knoxville
County: Roane
Tax ID/APN: 036G E 001.00
Traffic/Vehicle Count: 10,866
Tenancy: Single Tenant
Total Number of Buildings: 1
Number of Stories: 1
Parking Type: Surface

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 1,672 8,954 23,313
Median Age: 44.55 43.64 44.27
Households: 726 3,849 9,697

Contact

Photograph of Listing Agent

Dan Adkins

Avison Young KAAR CIE Member
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