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Firehouse Subs | 13+yrs Remain Abs NNN 825 Cosby Hwy 2,200 SF Retail Building Newport, TN 37821 $2,876,652 CAD ($1,307.57 CAD/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

$2,876,652 CAD

Price Per SF

$1,307.57 CAD

Cap Rate

5.75%

NOI

$165,435 CAD

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

95’ on Cosby Hwy

Pylon Sign
Restaurant

Signage

Drive Thru

Air Conditioning

Accommodation and Food Services
99,999 SF
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Firehouse Subs is a publicly held restaurant brand founded in 1994 by firefighter brothers Chris and Robin Sorensen in Jacksonville, Florida. It specializes in steamed hot subs and hearty sandwiches served in a fast-casual environment and supports public safety through the Firehouse Subs Public Safety Foundation. The chain expanded through franchising beginning in 2001 and became a subsidiary of Restaurant Brands International in 2021. As of mid-2025, it operates over 1,200 locations across 46 U.S. states, Puerto Rico, Canada, and several international markets. Firehouse Subs is recognized for philanthropic efforts, donating more than $100 million in lifesaving equipment to first responders via its Foundation.