Wednesday, February 9, 2011
Knoxville, Tennessee - We have Net Lease Properties information from a beautiful part of the Country, the Knoxville, Tennessee area. Our information is on a recent purchase of NNN Commercial Real Estate in the Knoxville area. Taco Bell and KFC (Kentucky Fried Chicken) are two of the favored net-leased Tenants for our Net Lease Properties Investors. This recent sale of the retail net leased property in our news has Taco Bell and KFC. The triple net leased property building has approximately 4,790 square feet of space to lease.
This net lease investment is located in Lake City, Tennessee. Lake City, Tennessee is approximately 28 miles north - west of the Knoxville Downtown Island Airport. The Knoxville Downtown Island Airport is located at 2701 Spence Place, in Knoxville, Tennessee. This KFC Triple Net leased property is in Anderson County however it is on the borderline of Campbell County. This triple net leased property is located within fifteen miles of three respectable hospitals. The Triple Net Lease Property benefits from being within 80 miles of seven colleges and universities to sell their tacos and chicken to. The Triple Net Lease Property is only about 25 miles from the University of Tennessee, in Knoxville.
This Triple Net Lease Property sold for $1,175,000. This commercial real estate development has fairly recent 20 Year Absolute (NNN) Triple Net Lease. The triple net lease property was marketed as a 7.50% Cap Rate. This Triple Net Lease Property has attractive Rental increases that take place every 5 Years. This Triple Net Lease Property, leased to KFC and Taco Bell is situated at the 177 Colonial Lane address, in Lake City, with the zip code of 37769. This Triple Net Lease Property offers a steady income with the security of a quality Tenant, and no landlord responsibilities.
The buyer of this NNN Commercial Real Estate is the Calvert Family Trust, who are based in Oak Park, California. This NNN Lease Investment has lease terms with Four (5) - year options to renew. The Tenant operating as a KFC and Taco Bell has over 200 Units which they operate. The NNN Lease Investment Buyer had recently sold an industrial property and wanted the performance of a Triple Net Lease Property. It would have been a wealth building move if the Calvert Family Trust had been able to use this as a 1031 Exchange replacement property. However we do not have news on this Buyer involved in a 1031 Exchange.
The Triple Net Lease Property was built in the year of 1980. However, NNN Lease Investment is a freestanding, retail building that was renovated in 2006. The NNN Lease Investment is situated on approximately 0.88 acres of land in Tennessee. The NNN Lease Property seller was Harbor View LLC. Harbor View LLC is a private investor, and we are not certain if they, as seller, were in a 1031 Exchange.
The closest Retail Shopping Mall is the West Town Mall. The West Town Mall is located on the extremely busy Kingston Pike. The address is 7600 Kingston Pike in Knoxville. The Retail Shopping Mall, West Town is the premier shopping destination in all of East Tennessee and has heavy retail traffic coming in off major highways. The Retail Shopping Center has over 143 retail stores. A portion of these retail stores are exclusive to the West Town Mall. Loanrise.com is capable to finance your Retail Shopping Center and Net Lease Properties with CTL Financing.
Some net-leased tenants at this Retail Shopping Center include fine retailers like the Apple Computer Store, Sephora, Coach, Forever 21, Lucky Brand Jeans, Pottery Barn, White House Black Market, and Swarovski Crystal. The Retail Shopping Center was architecturally designed to include airy walkways and lush landscaping for a fine ambiance. The net lease Tenants and Retail Customers can take a break under beautiful trees in Deer Park, and check out a beautiful fountain. This West Town Mall retail shopping center features an extensive Food Court and a place to take kids, that is the Children's Soft Play Area.
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