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4503 Highway 58
Chattanooga, TN 37416
Starbucks · Retail Property For Sale
INVESTMENT HIGHLIGHTS
- Ideal Passive Investment in a No Income Tax State | Low-management Asset with Minimal Landlord Responsibilities | Roof Warranty through 2035
- Corporate Lease with Best-in-Class Tenant | Largest Coffeehouse Company in the World & One of the Largest QSR Operators with 40,000+ Locations
- Located at Signalized Intersection on Hwy 58 (37,360+ VPD) | Dense Retail Corridor
- NN Lease with 10% Rental Increases Every 5 Years & at Each Option | Strong Store Performance
- Starbucks Holds an Investment-Grade Credit Rating of BBB+ from S&P Global Ratings | Over $36 Billion Revenue Reported for FY 2024
- National Retailers in the Immediate Area Include Wendy’s, Subway, McDonald’s, Dunkin’ Donuts, Walgreens, & More
EXECUTIVE SUMMARY
Northmarq is pleased to present to qualified investors the opportunity to acquire the fee simple interest in the single-tenant Starbucks located at 4503 Highway 58 in Chattanooga, Tennessee. Ideally located in the no-income tax state of Tennessee, the property was fully renovated in 2020 with improvements including a new roof with a warranty through 2035, two new HVAC units, and parking lot replacements. Starbucks operates on a NN lease featuring 10% rental increases every 5 years and at each of the four 5-year option periods. Starbucks operates on a NN lease featuring 10% rental increases every 5 years and at each of the four, 5-year options. As the world’s largest coffeehouse brand and one of the largest QSR operators globally, Starbucks maintains an investment-grade BBB+ rating from S&P.
The property sits at a signalized intersection along Highway 58 (37,360+ VPD) in a dense retail corridor with other national tenants including Wendy’s, Subway, McDonald’s, Dunkin’ Donuts, Walgreens, and others, offering long-term stability in a high-traffic Chattanooga trade area.
The property sits at a signalized intersection along Highway 58 (37,360+ VPD) in a dense retail corridor with other national tenants including Wendy’s, Subway, McDonald’s, Dunkin’ Donuts, Walgreens, and others, offering long-term stability in a high-traffic Chattanooga trade area.
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Freestanding
Building Size
1,815 SF
Building Class
B
Year Built/Renovated
2007/2020
Price
$2,279,537 CAD
Price Per SF
$1,255.94 CAD
Cap Rate
6%
NOI
$136,728 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.08
Lot Size
0.55 AC
Zoning
C-2 - General Commercial
Parking
24 Spaces (13.22 Spaces per 1,000 SF Leased)
Frontage
127’ on Tn-58 Hwy
AMENITIES
- Signalized Intersection
- Drive Thru
PROPERTY TAXES
| Parcel Number | 129H-E-011 | Improvements Assessment | $0 CAD |
| Land Assessment | $0 CAD | Total Assessment | $897,394 CAD |
PROPERTY TAXES
Parcel Number
129H-E-011
Land Assessment
$0 CAD
Improvements Assessment
$0 CAD
Total Assessment
$897,394 CAD
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