hooters - hermitage, tn€¦ · companies hig capital, karp reiley, and chanticleer holdings that...
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4119 LEBANON PIKEHERMITAGE, TN 37076
(NASHVILLE MSA)
$2,815,000 | 6.0% CAP$2,815,000 | 6.0% CAP
S E A N S T E P H E N S O NS E A N S T E P H E N S O N S T E V E N DS T E V E N D AA V I SV I S J O H N CJ O H N C AA V I NV I N
480.429.4580 480.429.4580 615.210.9697
sean@retail1031.com steven@retail1031.com jcavin@southeastventure.com
RETRETAIL INVESTMENT GRAIL INVESTMENT GROUP, LLOUP, LLCC
8255 E RAINTREE DR SUITE 100, SCOTTSDALE, AZ 85260
480.429.4580
RETAIL1031.COM
J O H N CJ O H N C AA V I NV I N
Broker of Record
S T E V E N DS T E V E N D AA V I SV I S
Managing Member
480.429.4580
steven@retail1031.com
AZ #BR101032000
S E A N S T E P H E N S O NS E A N S T E P H E N S O N
Senior Associate
480.429.4580
sean@retail1031.com
AZ #SA672380000
R E TR E TA I L I N V E S T M E N T G RA I L I N V E S T M E N T G RO U P , L LO U P , L LCC | 8 2 5 5 E R| 8 2 5 5 E RA I N T R E E D R S U I T E 1 0 0 | S C OA I N T R E E D R S U I T E 1 0 0 | S C OT TT TS DS DA L E , A Z 8 5 2 6 0 | 4 8 0 . 4 2 9 . 4 5 8 0 |A L E , A Z 8 5 2 6 0 | 4 8 0 . 4 2 9 . 4 5 8 0 | R E TR E TA I L 1 0 3 1 . C O MA I L 1 0 3 1 . C O M
INVESTMENT HIGHLIGHTSINVESTMENT HIGHLIGHTS• Absolute NNN Lease (Zero Landlord
Responsibilities)
• Lebanon Road: ±33,760/VPD
• Old Hickory Blvd: ±33,783/VPD
• Corporate Guarantee
• 4x5 Year Options
• 10% or 1.25 times CPI Every 5 Years
(whichever is less)
• TN is an income tax free state
• Store remodeled in 2016 by tenant
• Populated Area w/ over ±475,000
people within 10-mile Radius
• Median Household Income: $65,950 |
Higher than National Average
• Near U.S Route 70, I-40, & SR 45
• ±7 miles from Nashville Airport
PROPERTY INFORMATIONPROPERTY INFORMATION
Address:4119 Lebanon Pike,
Hermitage, TN 37076
Price: $2,815,000
Cap Rate: 6.0%
NOI: $168,873
Building Size: ±5,051 Square Feet
Land Area: ±1 Acre
Lease Expiration: 12/31/2032
Options: (4) 5-Year Options
Lessee: Hooters of America, LLC
Lease Type: Absolute NNN
Increases:The Lesser of 10% or 1.25
times CPI Every 5 Years
Guarantee: Corporate
ROFR: Ask Agent
NASHVILLE TENNESSEENASHVILLE TENNESSEE
R E TR E TA I L I N V E S T M E N T G RA I L I N V E S T M E N T G RO U P , L LO U P , L LCC | 8 2 5 5 E R| 8 2 5 5 E RA I N T R E E D R S U I T E 1 0 0 | S C OA I N T R E E D R S U I T E 1 0 0 | S C OT TT TS DS DA L E , A Z 8 5 2 6 0 | 4 8 0 . 4 2 9 . 4 5 8 0 |A L E , A Z 8 5 2 6 0 | 4 8 0 . 4 2 9 . 4 5 8 0 | R E TR E TA I L 1 0 3 1 . C O MA I L 1 0 3 1 . C O M
HOOTERSHOOTERSRetail Investment Group is pleased to be the exclusive listing agent for the Hooters property located in Hermitage (Nashville MSA) Tennessee.
The building is ±5,051 square feet and sits on 1 Acre of land, and was remodeled by the tenant in 2016. This Hooters is in a densely populated
area only ±7 miles from the Nashville International Airport. The population in a 5-mile radius is ±113,659, and ±475,460 in a 10-mile radius.
Area Generators less than ±0.5 mile away include Hobby Lobby, Waffle House, Zaxby's, Big Lots, Advance Auto Parts, Goodwill, Lowe's, Chili's,
Steak 'n Shake, The Home Depot, IHOP, Sprint, Lowe's, Firestone Auto, Famous Dave's, Pizza Hut, McDonald's, and Hermitage Shopping Center,
as well as many others. The property will transfer with a Corporate Absolute NNN lease which has 13+ years remaining.
NASHVILLE TENNESSEENASHVILLE TENNESSEE
R E TR E TA I L I N V E S T M E N T G RA I L I N V E S T M E N T G RO U P , L LO U P , L LCC | 8 2 5 5 E R| 8 2 5 5 E RA I N T R E E D R S U I T E 1 0 0 | S C OA I N T R E E D R S U I T E 1 0 0 | S C OT TT TS DS DA L E , A Z 8 5 2 6 0 | 4 8 0 . 4 2 9 . 4 5 8 0 |A L E , A Z 8 5 2 6 0 | 4 8 0 . 4 2 9 . 4 5 8 0 | R E TR E TA I L 1 0 3 1 . C O MA I L 1 0 3 1 . C O M
NASHVILLE TENNESSEENASHVILLE TENNESSEE
R E TR E TA I L I N V E S T M E N T G RA I L I N V E S T M E N T G RO U P , L LO U P , L LCC | 8 2 5 5 E R| 8 2 5 5 E RA I N T R E E D R S U I T E 1 0 0 | S C OA I N T R E E D R S U I T E 1 0 0 | S C OT TT TS DS DA L E , A Z 8 5 2 6 0 | 4 8 0 . 4 2 9 . 4 5 8 0 |A L E , A Z 8 5 2 6 0 | 4 8 0 . 4 2 9 . 4 5 8 0 | R E TR E TA I L 1 0 3 1 . C O MA I L 1 0 3 1 . C O M
NASHVILLE TENNESSEENASHVILLE TENNESSEE
R E TR E TA I L I N V E S T M E N T G RA I L I N V E S T M E N T G RO U P , L LO U P , L LCC | 8 2 5 5 E R| 8 2 5 5 E RA I N T R E E D R S U I T E 1 0 0 | S C OA I N T R E E D R S U I T E 1 0 0 | S C OT TT TS DS DA L E , A Z 8 5 2 6 0 | 4 8 0 . 4 2 9 . 4 5 8 0 |A L E , A Z 8 5 2 6 0 | 4 8 0 . 4 2 9 . 4 5 8 0 | R E TR E TA I L 1 0 3 1 . C O MA I L 1 0 3 1 . C O M
NASHVILLE TENNESSEENASHVILLE TENNESSEE
R E TR E TA I L I N V E S T M E N T G RA I L I N V E S T M E N T G RO U P , L LO U P , L LCC | 8 2 5 5 E R| 8 2 5 5 E RA I N T R E E D R S U I T E 1 0 0 | S C OA I N T R E E D R S U I T E 1 0 0 | S C OT TT TS DS DA L E , A Z 8 5 2 6 0 | 4 8 0 . 4 2 9 . 4 5 8 0 |A L E , A Z 8 5 2 6 0 | 4 8 0 . 4 2 9 . 4 5 8 0 | R E TR E TA I L 1 0 3 1 . C O MA I L 1 0 3 1 . C O M
NASHVILLE TENNESSEENASHVILLE TENNESSEENashville Tennessee is the capital of Tennessee, and also the largest city in Tennessee with a population of ±691,243 as of 2017. Aside from
being home to the Grand Ole Opry, The Country Music Hall of Fame, and Vanderbuilt University, Nashville is one of the most visited cities in the
nation. With over 15.2 million visitors in 2018 and $23 million in direct visitor spending in 2018, Nashville has a total of ±30,590 hotel rooms
with plans of opening 20 new hotel properties in 2019. Nashville International Airport is also one of the fastest growing airports in North
America. It served 16 million passengers in 2018, with 460 flights per day.
Nashville isn't only a great city to visit, but also a great place to live. With an extremely low cost of living, the average household income is
$63,939, which is higher than the national average. The unemployment rate is 2.7% which is about 1.2% lower than the national average, and
the expected job growth is one of the largest in the United States.
NASHVILLE TENNESSEENASHVILLE TENNESSEE
R E TR E TA I L I N V E S T M E N T G RA I L I N V E S T M E N T G RO U P , L LO U P , L LCC | 8 2 5 5 E R| 8 2 5 5 E RA I N T R E E D R S U I T E 1 0 0 | S C OA I N T R E E D R S U I T E 1 0 0 | S C OT TT TS DS DA L E , A Z 8 5 2 6 0 | 4 8 0 . 4 2 9 . 4 5 8 0 |A L E , A Z 8 5 2 6 0 | 4 8 0 . 4 2 9 . 4 5 8 0 | R E TR E TA I L 1 0 3 1 . C O MA I L 1 0 3 1 . C O M
HOOTERSHOOTERSHooters was appropriately incorporated on April Fool’s Day, 1983, when six
businessmen with absolutely no previous restaurant experience got
together and decided to open a place they couldn’t get kicked out of. Soon
after, on October 4th of that year, the doors to the first Hooters Restaurant
opened in Clearwater, Florida. The now famous “Hooters Six” were: L.D.
Stewart, a painting contractor; Gil DiGiannantonio, a liquor salesman; “Uncle
Billy” Ranieri, a retired service station owner; Ed Droste, a real estate
executive; Dennis Johnson, a brick mason by trade; and Ken Wimmer, a
partner in the painting business with L.D. Out of their fertile imaginations –
and more R & R than R & D – came the concept of Hooters. The restaurant
would combine their favorite manly finger foods with the 50’s and 60’s music
they felt best exemplified a happy, nostalgic time in most Americans’
memories.
Although fun, once opened, the pressure to succeed was intense (two of the
Hooters Six were Italian). So Droste, the marketing guy, donned a chicken suit
and stood in traffic waving people in the door. Shortly after the trick in the
costume (and a little event known as Super Bowl), the little joint’s fame
began to spread. They had a hunch, but little did the Hooters Six know how
much the public yearned for a fun, casual alternative to the existing fern bars
and fine dining establishments. Hooters was to become an oasis with great
food. Hooters is a private company that is owned by a consortium of PE
companies HIG Capital, Karp Reiley, and Chanticleer Holdings that acquired
the chain in 2011, with 420 restaurants in 44 States and 30 Counties.
NASHVILLE TENNESSEENASHVILLE TENNESSEE
R E TR E TA I L I N V E S T M E N T G RA I L I N V E S T M E N T G RO U P , L LO U P , L LCC | 8 2 5 5 E R| 8 2 5 5 E RA I N T R E E D R S U I T E 1 0 0 | S C OA I N T R E E D R S U I T E 1 0 0 | S C OT TT TS DS DA L E , A Z 8 5 2 6 0 | 4 8 0 . 4 2 9 . 4 5 8 0 |A L E , A Z 8 5 2 6 0 | 4 8 0 . 4 2 9 . 4 5 8 0 | R E TR E TA I L 1 0 3 1 . C O MA I L 1 0 3 1 . C O M
PPOPULAOPULATIONTION 1 MILE1 MILE 3 MILES3 MILES 5 MILES5 MILES
20192019 9,756 113,659 475,460
2024 (EST)2024 (EST) 10,412 119,997 504,336
HOUSEHOLD INCOMEHOUSEHOLD INCOME 1 MILE1 MILE 3 MILES3 MILES 5 MILES5 MILES
20192019 $58,275 $65,169 $68,254
HOUSEHOLDSHOUSEHOLDS 1 MILE1 MILE 3 MILES3 MILES 5 MILES5 MILES
NUMBER OF HHNUMBER OF HH 2,458 19,207 44,026
AVG HH VALUEAVG HH VALUE $151,970 $171,885 $184,145
TRTRAFFICAFFIC LEBLEBANON PIKEANON PIKE OLD HICKOLD HICKORORY BLY BLVDVD
VPDVPD 33,760/day 33,783/day
NASHVILLE TENNESSEENASHVILLE TENNESSEE
The information contained in this offering memorandum has been obtained from sources we believe reliable; however, Retail Investment Group has not verified, and will not verify, any of the information contained herein, nor has Retail Investment Group conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding theaccuracy or completeness of the information provided. All potential buyers must take appropriate measures to verify all of the information set forth herein. Prospective buyers shall be responsible for their costs and expenses of investigating the subject property.
RETRETAIL INVESTMENT GRAIL INVESTMENT GROUP, LLOUP, LLCC | 8255 E RAINTREE DR SUITE 100 | SCOTTSDALE, AZ 85260 | 480.429.4580 | RETAIL1031.COM
S E A N S T E P H E N S O NS E A N S T E P H E N S O N
Senior Associate
480.429.4580
sean@retail1031.com
AZ #SA672380000
S T E V E N DS T E V E N D AA V I SV I S
Managing Member
480.429.4580
steven@retail1031.com
AZ #BR101032000
J O H N CJ O H N C AA V I NV I N
Broker of Record
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