Retail Space / Tennessee / Cleveland / 37312 / 8851 Hiwassee Street

8851 Hiwassee Street

Cleveland, TN 37312

Listing ID: 203790

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$577,500

For Sale

Property Type Retail for Sale : Free Standing Building
Lot Size Acres 1.580
Building Sq Ft 8,125
Building Price per Sq Ft $71.08
Land Sq Ft 68,824
Land Price per Sq Ft $8.39
CAP Rate % 8.00

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Description

Opportunity to acquire this successful, single-tenant NN Dollar General in Charleston, TN. This is an esential business that was renovated in 2015. The ± 8,125 SF Dollar General, situated on large ± 1.58-acre parcel, has a brick facade and was built in 2004. The NN lease was extended through March 31, 2025 with two 5-year options, each with 10% rent increases. Located on the main road through Charleston, this is the only dollar store in the area and unofficially has store sales at around $2M annually.
This area of eastern Tennessee is close to Interstate-75, located 10 miles from Cleveland, TN MSA, about 45 miles NE of Chattanooga. Charleston is also the home to a new Amazon Fulfillment Center, one of three “state of the art” centers in eastern Tennessee.
As a NN lease, the Landlord is responsible for roof, structure, parking lot, landscaping, and for repairs and maintenance for fixtures and equipment above $750 per occurrence. The Landlord is fully reimbursed by the Tenant for taxes and insurance and the Landlord receives a monthly CAM reimbursement from the Tenant.
This offering has an exceptional tenant guarantee with Dollar General and a strong 8% cap rate.

Attachments & Files

offeringmemorandum-10-Z1j-9B9.pdf

Points of Interest & Demographic Radii

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Demographic Radii

POIs provided for entertainment purposes only. Data comes from multiple data sources as well as users and agents. MyEListing makes no claims whatsoever as to the accurancy and/or completeness.

Chattanooga History of Retail Space for Sale

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Listing Demographics for 8851 Hiwassee Street Cleveland, TN 37312

All information based on the most recently available data (updated annually) and is provided in 1-mile, 3-mile, and 5-mile radii (radiuses) of the property location.

		1-Mile	3-Miles	5-Miles
Total Population		382	3,633	9,482
Population Median Age		43	41	40
Population by Age	0-9 Yrs	48 (12%)	450 (12%)	1196 (12%)
	10-19 Yrs	32 (8%)	418 (11%)	1256 (13%)
	20-29 Yrs	24 (6%)	289 (7%)	815 (8%)
	30-39 Yrs	56 (14%)	492 (13%)	1219 (12%)
	40-49 Yrs	50 (13%)	470 (12%)	1286 (13%)
	50-59 Yrs	65 (17%)	574 (15%)	1444 (15%)
	60-69 Yrs	60 (15%)	590 (16%)	1414 (14%)
	70+ Yrs	47 (12%)	350 (9%)	851 (8%)

Median HH Income		$48,117	$57,350	$64,766
Total Household Income	< 24K	47 (28%)	286 (19%)	553 (15%)
	25-49K	40 (24%)	348 (24%)	741 (21%)
	50-74K	37 (22%)	309 (21%)	807 (22%)
	75-99K	18 (10%)	180 (12%)	482 (13%)
	100-199K	22 (13%)	292 (20%)	840 (23%)
	200K+	0 (0%)	28 (1%)	95 (2%)

Highest Education Level	No Diploma	51	399	894
	Diploma or GED	99	842	2095
	Some College	67	631	1643
	Assoc. Degree	25	271	758
	Bachelors Degree	23	290	824
	Higher Degree	25	197	434

Total Housing Units		171	1,526	3,810
--Owner-Occupied		128	1,167	2,909
--Renter-Occupied		36	276	609
Owner-Occupied Values	< 100K	48	300	630
	100-199K	59	531	1255
	200-299K	19	215	595
	300-399K	0	81	302
	400-499K	1	21	72
	500K+	0	19	54

Total Working Age Population		314	2,938	7,560
In Work Force		168	1,677	4,432
Not In Work Force		147	1,261	3,128
Workforce Employed		156	1,567	4,162
Workforce Unemployed		11	110	270
Civlian Workforce		168	1,677	4,432
Military Workforce		0	0	0

Total Households		164	1,443	3,518
Family Households		104	1,035	2,691
Non-Family Households		60	408	827
Married Couple		73	779	2,133
Other Family		31	256	558
Married w/Child		20	241	699
Single Male w/Child		5	62	137
Single Female w/Child		11	99	215

Population Change Last Two Decades - Plus Projection

	2000	%	2010	%	2020	%	2030
Tennessee	5,689,283	+12	6,346,105	+9	6,886,369	+7	7,393,069
Bradley County	87,965	+13	98,963	+10	108,557	+8	116,901
McMinn County	49,015	+7	52,266	+3	53,780	+3	55,514
Meigs County	11,086	+6	11,753	+6	12,461	+5	13,054
Polk County	16,050	+5	16,825	+1	17,070	+4	17,673

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While we strive to provide the most accurate information, all listing information, and demographic data, is provided by third-parties. As such, MyEListing will not be responsible for the accuracy of the information. It is strongly recommended that you verify all information with the listing agent, and any relevant agencies, prior to making any decisions.

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