hooters - hermitage, tn€¦ · companies hig capital, karp reiley, and chanticleer holdings that...

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

[email protected] [email protected] [email protected]

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

[email protected]

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

[email protected]

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

https://www.retail1031.com/


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 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.




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.




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



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

[email protected]

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

[email protected]

AZ #BR101032000

J O H N CJ O H N C AA V I NV I N

Broker of Record


hooters - hermitage, tn€¦ · companies hig capital, karp reiley, and chanticleer holdings that...

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