PRICE: Determined by Market
CAP RATE: Determined by Market
TOTAL BUILDING SIZE: 40,448 Sq Ft
YEAR BUILT | RENOVATED: 1976 | 2021
LOT SIZE: +/- 5.03 Acres
- Stoplight Intersection with Strong Traffic Counts
The subject property is ideally located in the submarket with excellent visibility along East Andrew Johnson Highway with traffic counts over 28,000 vehicles per day. There are four points of access to the property including a stoplight intersection at the front entrance on East Andrew Johnson Highway.
- Situated in Dense Retail Corridor
The subject property benefits from being situated in the primary retail corridor with direct visibility to over 28,000 vehicles per day traveling on East Andrew Johnson Highway which is the main East/West thoroughfare connecting Johnson City to Greeneville. National tenants in the immediate trade area include Walmart Supercenter, Lowe’s, Publix, Walgreens, CVS, Marshalls, Ross Dress for Less, Big Lots, Harbor Freight Tools, O’Reilly Auto Parts, Five Below, McDonald’s, Taco Bell, etc.
- Recent Lease Extension from Badcock Home Furniture & More
Badcock Home Furniture & More has demonstrated their commitment to this location by signing an early five-year
lease extension. Badcock is one of the largest furniture retailers in the U.S. with over 380 locations in eight states. On
November 22, 2021, the company was purchased by and is now a subsidiary of Franchise Group Incorporated (NASDAQ: FRG).
- Significant Value-Add Opportunity
Both tenants are currently paying below market rents at an average of $4.54 per Square Foot. Tractor Supply Co. currently occupies 22,088 SF of shop space and an adjacent outdoor storage area. A new owner has the opportunity to improve the NOI through releasing the space or potentially fully developing the 5.03 Acre Parcel by extending the shop space or creating an outparcel.