RealSource Group Represents Buyer In $2.77M Sale Of Chick-fil-A Ground Lease In Hixson TN

A new construction retail asset, a Chick-fil-A ground lease located at 5979 Tennessee Highway 153 in Hixson, Tennessee, has been sold for $2,770,000. The property encompasses 6,008 square feet on a 1.74-acre site and is positioned within the Hixson market. The transaction reflects a price per square foot of $461 and was executed at a 4.15% cap rate, marking a notable transaction in the region.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $2,770,000
• Square Footage: 6,008
• Address: 5979 Tennessee Highway 153
• Market: Hixson, TN
• Acres: 1.74
• Buyer’s Representative: Jonathan Schiffer & Austin Blodgett - RealSource Group
• Seller’s Representative: Don McMinn & Andrew Koriwchak - Marcus & Millichap
• Cap Rate: 4.15%
• Lease Type: 15-year corporate triple-net ground lease
• Rent Commencement: September 2026
• Buyer Profile: Florida-based high-net-worth investor
• Seller Profile: Tennessee-based private developer

RealSource Group played a pivotal role in representing the buyer in this transaction, while Marcus & Millichap represented the seller. This deal is significant as it established the lowest cap rate ever recorded for a single-tenant Chick-fil-A drive-thru in Tennessee, underscoring the asset's unique positioning and investment appeal.