American Wings 2316 E 3rd St 1,337 SF Retail Building Chattanooga, TN 37404 $650,000 ($486.16/SF) 7.38% Cap Rate

Located in the Glenwood neighborhood of Chattanooga, Tennessee, this investment property offers long term stable income and excess land which provides opportunity for additional development. 2316 E 3rd Street is situated in the heart of Chattanooga’s medical community anchored by CHI Memorial Hospital and Parkridge Medical Center, featuring countless multi-tenant medical office buildings and freestanding clinics, in addition to numerous community centers, non-profit organizations, and schools, all adding up to a huge daytime population and a captive audience for those seeking a quick bite to eat in an area that offers few restaurant alternatives. This property is well-positioned to serve a steady flow of patrons from both area residents and the commercial sector.
American Wings is a well-established quick service restaurant featuring a diverse menu of chicken wings and tenders, Philly sandwiches and subs, fried fish and shrimp, fried rice, and fries and onion rings. This secure investment benefits from the excellence of both a hands-on owner-operator and the experience of a larger organization operating multiple stores in multiple markets.
This investment opportunity includes a brand-new 10-year Triple Net (NNN) lease and features rental increases of 10% every five years, including option periods, which ensures steady income growth. The lease terms offer two renewal periods of five years each, potentially extending the lease term to 20 years.
The northeast corner of the property could be further developed for additional parking or for a small footprint drive thru operation or food truck.
Investment Highlights
LOCATION
• Located in the Heart of Chattanooga’s Medical Community
• Huge Daytime Population
• The Mix of Residential and Commercial Properties in the Area Provides a Steady Stream of Patrons
LEASE
• Secure Investment Opportunity
• Brand New 10-Year Triple Net (NNN) Lease Commencing at Closing
• Attractive Rental Increases | 10% Every 5 Years, Including Option Periods
• Two (2) Renewal Periods of Five (5) Years Each Bring the Potential Lease Term to Twenty (20) Years
TENANT
• American Wings - Featuring Chicken Wings & Tenders, Philly Sandwiches & Subs, Fried Fish & Shrimp, Fried Rice, and Fries & Onion Rings
• High Performing QSR with over $1MM Annual Sales in a Small Footprint
• Owners Are Actively Involved in Operations and Leadership