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Firehouse Subs | 13+yrs Remain Abs NNN 825 Cosby Hwy 2,200 SF Retail Building Newport, TN 37821 $2,104,000 ($956.36/SF) 5.75% Cap Rate

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Investment Highlights

13+ Years Remaining | 10% Rental Increases Every 5 Years
Absolute NNN | Fee Simple Ownership | Zero Landlord Responsibilities
Strong Demographics in 5-Mile Trade Area

Top Performing QSR Retail Corridor
I-40 (33,500 VPD) | Near Douglas Lake | Dense Retail Corridor

Executive Summary

SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN leased, Firehouse investment property located in Newport, Tennessee. The tenant has over 13 years remaining on their lease with 2 (5-year) options to extend, demonstrating their commitment to the site. The lease features 10% rental increases every 5 years throughout the initial term and option periods, growing NOI and hedging against inflation. The lease is absolute NNN with zero landlord responsibilities making it an ideal, management free investment opportunity for a passive investor.

Property Facts

Sale Type

Investment NNN

Property Type

Retail

Property Subtype

Fast Food

Building Size

2,200 SF

Building Class

Year Built

2024

Price

$2,104,000

Price Per SF

$956.36

Cap Rate

5.75%

NOI

$121,000

Tenancy

Single

Building Height

1 Story

Building FAR

0.10

Lot Size

0.50 AC

Zoning

C3 - Interstate Business

Parking

19 Spaces (8.64 Spaces per 1,000 SF Leased)

Frontage

88’ on Cosby Highway

Pylon Sign
Restaurant

Signage

Drive Thru

Air Conditioning

Accommodation and Food Services
99,999 SF
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Firehouse Subs began in 1994 when brothers Chris and Robin Sorensen opened their first Jacksonville, Florida location. The founders drew inspiration from their firefighting backgrounds to create the restaurant's concept. The chain serves hot and cold submarine sandwiches alongside other items like salads and desserts. Menu favorites include the Hook & Ladder and Italian sub combinations. Over three decades, the company expanded to numerous locations nationwide while maintaining its firefighter-themed decor. A portion of proceeds supports the Firehouse Subs Public Safety Foundation, which provides equipment to first responders.