1500-1518 Decatur Pike
Athens, TN 37303
Aldi Center · Commerce de détail Propriété À vendre

ALDI ANCHORED CENTER | KNOXVILLE/CHATTANOOGA MSA
• This property is a 111,142 SF Aldi-anchored retail center in Athens, TN, located in both the Knoxville and Chattanooga MSAs
• 86% credit tenancy & 19-year average tenant tenure proving tenant stability and long-term success within the center
• Embedded rent growth with average in-place rents in the center trading 26% below market
• Priced well below replacement cost at $83/SF
VETERAN TENANCY | PROVEN OPERATORS
• The dominant retail center in the Athens MSA, seeing 1.6 million annual visits with +14% year-over-year growth
• Anchored by ALDI and Belk, plus an e-commerce resistant tenant mix including Goodwill, 7 Brew, H&R Block, Little Caesars, and OneMain Financial.
• Long-term proven operators with an average tenant tenure of 19+ years
• Exceptional Placer.ai performance on key tenants with multiple operators ranking in the top 7%–35% nationally
• H&R Block (top 8% nationwide)
• 7 Brew (top 27% nationwide)
• Goodwill (top 29% nationwide)
• Belk (top 35% nationwide)
MARK-TO-MARKET UPSIDE | 80% OF GLA LEASED BELOW MARKET
• 80% of the center is paying below market rents
• Average in-place rents of $10.68 PSF are significantly below $14.40 PSF market rents (Costar)
• Recent Renewal from Belk but embedded upside via Junior Box backfills
• Belk is currently paying $3.00/SF
• Numerous Junior Box tenants targeting a location in Athens. (IE. Burlington, Ross, etc.)
• Covered land play
• All but one tenant are on MTM Leases in the existing outparcel strip center – Total NOI approximately $60K (Subway expires 2028 with no options)
• Neighboring brand new 7-Brew development proves demand for additional outparcels
SIGNALIZED HIGH-TRAFFIC CORNER | I-75 ACCESS
• Signalized corner location at Decatur Pike and Lee Highway crossroads (35K combined VPD), with immediate I-75 access (46K VPD)
• Positioned within Athens’ dominant retail corridor surrounded by heavy duty line up of national retailers, including Walmart, Lowe’s, Hobby Lobby, Marshalls, Harbor Freight, Dollar Tree, and PetSense
• Strong tenant demand and continued new development in the area reinforce long-term positioning and leasing durability
ATHENS ECONOMY | DOUBLE MSA DRAW
• Located between Knoxville and Chattanooga, Athens captures spillover from both MSAs while also serving as a main retail location for the surrounding communities
• Major employment drivers, including DENSO Manufacturing (1,360 employees), Mayfield Dairy Farms (1,900 employees), Starr Regional Medical Center, and McMinn County Schools
• Tennessee Wesleyan University and regional events (MooFest) further contribute to recurring traffic and consumer activity