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353 S Illinois Ave
Oak Ridge, TN
Price:
$2,152,032
Cap Rate:
5.25%
NOI:
$112,981
Ownership Type:
Fee Simple
Building Size:
2,609 SF
Lot Size:
0.88 AC
Lease Type:
Absolute NNN
Term Remaining:
19+ Years
Rent Increases:
1.5% Annual
Lease Options:
6, 5 Year
Guarantor:
Franchisee (Tacala)
Single tenant Taco Bell operating under a 23-year absolute NNN lease with over 19-years remaining. Passive, long-term lease offers a predictable income stream with no maintenance or management responsibilities whatsoever.
The subject property is operated by Tacala, LLC, the largest Taco Bell franchisee in the U.S. with approximately 380 locations and expanding. Financial reporting is required by the Lease - contact Agent for further details.
The property is situated near the 4-way signalized corner of S. Illinois Ave and S. Tulane Ave and an outparcel to a newer shopping center anchored by Walmart Supercenter, Dick’s Sporting Goods, and TJ Maxx.
Senior Managing Director, Investments
(925) 989-8198
jason.hernandez@marcusmillichap.com
Senior Associate
(203) 962-2042
jack.oneill@marcusmillichap.com
Associate
(901) 612-0515
jackson.lyons@marcusmillichap.com