Dunkin’ Donuts: Chattanooga, TN (Broad St.)
NEW 15-YEAR ABSOLUTE NNN LEASE
The subject property is a quick-service restaurant building with a wrap around drive-through that will operate under a new 15-year absolute net lease (which will commence upon the close of escrow) with no landlord management or maintenance responsibilities whatsoever. The lease offers landlord-friendly and scheduled rent escalations of 8% every 5-years during the primary term and at each of the four, 5-year renewal option periods.
DIRECT STREET FRONTAGE ALONG MAIN THOROUGHFARE
The subject property benefits from excellent access and visibility along South Broad Street, with average daily traffic counts in excess of 23,695 vehicles per day. It is surrounded by a growing retail corridor with numerous traffic-driving tenants including Walgreens, Popeyes, Taco Bell, Subway and many others. The area is also surrounded by numerous office buildings and industrial warehouses that drive strong daytime employment.
MINUTES OUTSIDE OF DOWNTOWN CHATTANOOGA
Over 133,216 people reside within a 5-mile radius of the subject property. Average household income levels within a 5-mile radius exceed $66,327. The subject property is in close proximity to Chattanooga Christian School, the largest private school in Hamilton County, TN with 1,400+ students.
EXPERIENCED FRANCHISEE WITH 69 REGIONAL LOCATIONS
Bluemont Group has been in the QSR business since 2008 and since their inception, the company has grown extensively from just a few stores to owning and operating 69 stores in the Southeastern U.S. The company also operates one of the largest bakeries and distribution centers in the region, BMG Bakery, which distributes over 90,000 dozen doughnuts each week. Further, the company received Dunkin’ Brands Group, Inc.’s prestigious award of “National Developer of the Year” in 2018. The group as a whole has over 60 years of combined real estate, equity management, and franchise operations experience.
(1) Guarantor, Lease Terms, Building Specifications, and Demographics are estimates. Buyer is responsible for verifying during the Due Diligence process.
TN Broker of Record: Jody McKibben
License: 307629
