NNN Chipotle New “Chipotlane” Concept - The Pinnacle

Retail-Commercial for Sale
Catylist Listing ID: 30787065
Property Subtypes: Free-Standing Building, Restaurant
Building Status: Under Construction
Building Size (RSF): 4,132 SF
Gross Building Area: See Agent
Gross Land Area: 1.41 Acres
Sale Price: $4,000,000
Unit Price: $968.05 PSF
Is Quick-Service Restaurant? Yes
Has Drive-Thru? Yes
Property Use Type: Net Leased Investment (NNN)
Building Name: Corporate Backed NNN Chipotle New Construction
Sale Terms: Cash to Seller
Cap Rate: 3.75%
Average Occupancy Rate: 100
Last Updated: 5/23/2022

Overview / Comments

Located in Bristol, TN along Interstate 81 in The Pinnacle, is a 240-acre shopping center and commercial development located in Bristol, Tennessee along the Border of Tennessee, and Virginia.

Anchor stores are Bass Pro Shop / Cabela's, Belk, Dick's Sporting Goods, Best Buy, CarMax, and Marquee Cinemas. Its junior anchors are Old Navy, Michael's, ULTA, Kirkland's, and Marshall's.

Chipotle Corporate Backed Lease. Renovation of "former Steak N Shake" to the New “Chipotlane” Concept. (15) Year Initial Lease 10% Rent Increases every (5) Years. Four (5) Year Options.

Do Not Disturb Operation.

Additional Details

Nearest MSA: Kingsport-Bristol
County: Sullivan
Taxing Authority: Sullivan
Tax ID/APN: 08201919270
Retail Clientele: General, Business, Traveler, Tourist, Recreation
Property Located Between: Zaxby's and CarMax
Property Visibility: Excellent
Largest Nearby Street: Pinnacle Parkway
Feet of Frontage: 174
Traffic/Vehicle Count: 41,912
Highway Access: Interstate 81/ Highway 11
Site Description: Level Lot along Pinnacle Parkway near Traffic Light with access from Pinnacle Parkway in the Front and Stevens Trail in the Rear.
Area Description: Anchor stores are Bass Pro Shop / Cabela's, Belk, Dick's Sporting Goods, Best Buy, CarMax, and Marquee Cinemas. Its junior anchors are Old Navy, Michael's, ULTA, Kirkland's, and Marshall's.
Tenancy: Single Tenant
Total Number of Buildings: 1
Number of Stories: 1
Typical SF / Floor: 2,525 SF
Property Condition: Excellent
Year Built: 2016
Year Renovated: 2022
Roof Type: Flat
Parking Type: Structure

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 2,355 11,964 39,897
Median Age: 46.89 43.43 42.91
Households: 1,002 4,904 17,281

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