THE VITAMIN SHOPPE 7833 Kingston Pike Knoxville, TN 37919 - Asking Price: $2,450,000 Cap Rate: 6.86% - LoopNet
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THE VITAMIN SHOPPE
7833 Kingston Pike
Knoxville, TN 37919
Actual Property
Asking Price: $2,450,000 • Cap Rate: 6.86%
THE VITAMIN SHOPPE
Representative Photo Representative Photo
2
TABLE OF CONTENTS
04 About Atlantic Retail Investment Services
06 The Vitamin Shoppe Tenant Profile
CONTACT US
08 Property Overview MICHAEL ZIMMERMAN, PARTNER
Atlantic Retail Investment Services
10 On Market + Sales Comparisons 600 Market St., Suite 300
Chapel Hill, NC 27516
919.391.9901
12 The Vitamin Shoppe Aerial mzimmerman@atlanticretail.com
investmentservices.atlanticretail.com
14 The Vitamin Shoppe Area Map ALLISON KIRCHNER, BROKER
Atlantic Retail Investment Services
600 Market St., Suite 300
16 Knoxville Area Map Chapel Hill, NC 27516
919.391.9902
akirchner@atlanticretail.com
18 Knoxville Market Overview investmentservices.atlanticretail.com
This property is listed in conjunction
19 Demographics with Tennessee broker DZ Net Lease
Realty, LLC (license 262628).
CONFIDENTIALITY + DISCLAIMER
The information contained in the following Marketing the presence or absence of contaminating substances,
Brochure is proprietary and strictly confidential. It is PCB’s or asbestos, the compliance with State and
intended to be reviewed only by the party receiving it Federal regulations, the physical condition of the
from Atlantic Retail Investment Services and should not improvements thereon, or the financial condition or
be made available to any other person or entity without business prospects of any tenant, or any tenant’s plans
the written consent of Atlantic Retail Investment or intentions to continue its occupancy of the subject
Services. This Marketing Brochure has been prepared to property. The information contained in this Marketing
provide summary, unverified information to prospective Brochure has been obtained from sources we believe to
purchasers, and to establish only a preliminary level of be reliable; however, Atlantic Retail Investment Services
interest in the subject property. has not verified, and will not verify, any of the information
The information contained herein is not a substitute contained herein, nor has Atlantic Retail Investment
for a thorough due diligence investigation. Atlantic Retail Services conducted any investigation regarding these
Investment Services has not made any investigation, and matters and makes no warranty or representation
makes no warranty or representation, with respect to the whatsoever regarding the accuracy or completeness
income or expenses for the subject property, the future of the information provided. All potential buyers must
projected financial performance of the property, the size take appropriate measures to verify all of the information
and square footage of the property and improvements, set forth herein.
3
THE VITAMIN SHOPPE TENANT PROFILE
The Vitamin Shoppe is an omni-channel recognized as an innovator is associate training,
specialty retailer and contract manufacturer providing product information and customer
of nutritional products based in Secaucus, education. Each year, The Vitamin Shoppe
NJ. The Vitamin Shoppe is the second largest hosts its annual Product Training Conference,
vitamins, minerals, and supplements retailer which is the second largest health and wellness
with over $1 billion in annual revenue. Both convention in the U.S. The PEC unites over
online and in store, the company carries one 200 vendors and over 700 store managers to
of the most comprehensive retail assortments gain insight on The Vitamin Shoppe’s product
in the industry, including vitamins, minerals, offerings and current trends in the industry.
specialty supplements, herbs, sports nutrition, The company celebrated its fortieth
homeopathic remedies, green living products, anniversary this year and, in 2016, The Vitamin
and beauty aids. In addition to offering Shoppe launched a new website, an enhanced
products from approximately 900 national loyalty program, increased omni-channel
brands, The Vitamin Shoppe also carries capabilities, and a modern store format. The
products under its own private brands, which new store format represents the future of The
include BodyTech®, True Athlete®, MyTrition®, and Vitamin Shoppe’s brick-and-mortar experience,
more. The Vitamin Shoppe conducts business boasting an evolved identity and an open
through close to 800 company-operated retail store layout that is inviting to customers and
stores under The Vitamin Shoppe and Super easy to navigate. The company is also offering
Supplements retail banners, as well as online. expanded product assortments, sampling
The Vitamin Shoppe prides itself on the stations, and store events designed to enable an
training and certification of its associates, and is enhanced shopping experience for customers.
THE VITAMIN SHOPPE LEASE INFORMATION
NAME The Vitamin Shoppe COMMENCEMENT: October 18, 2007
ADDRESS 7833 Kingston Pike LEASE EXPIRATION: October 17, 2027
Knoxville, TN 37919 LEASE TERM: 10 Years
TENANT Vitamin Shoppe 10-Year Early Extension
Industries, Inc. OPTIONS: 1 Five-Year Option
SALE PRICE $2,450,000 INCREASES: 10% in Remaining Option
CAP RATE 6.86%
NOI $168,000 ($48.00/ft2)
BUILDING SIZE 3,500 ft2 +/-
LEASE OPTION
OPTION 1 $184,80
LAND SIZE 0.59 acres +/-
YEAR BUILT 2007
LEASE TYPE NN ADDITIONAL RENT
EXPENSES Roof + Structure RE TAXES $13,917 ($3.98/ft2)
GUARANTOR Corporate INSURANCE $726 ($0.21/ft2)
WEBSITE vitaminshoppe.com
STOCK SYMBOL NYSE: VSI
6
Representative Photo
7
THE VITAMIN SHOPPE PROPERTY OVERVIEW
Less than one mile away from the
property, West Town Mall is the largest of
any enclosed shopping mall in Tennessee.
8
LOCATED WITHIN PRIME RETAIL CORRIDOR
The site is located on the corner of the signalized intersection of Kingston
Pike and N Winston Rd. just off I-40 (196,214 ADT). Surrounded by major
national retailers including Trader Joe’s, Barnes & Noble, TJ Maxx, Home
Goods, David’s Bridal, and more, the property is also conveniently located
less than one mile away from West Town Mall, the largest enclosed shopping
mall in the state of Tennessee (1.3 million square feet of GLA and five
anchor tenants). Other nearby attractions include downtown Knoxville, the
Thompson-Boling Arena, The University of Tennessee at Knoxville, Parkwest
Medical Center, the Cherokee Farm Innovation Campus, and the renowned
University of Tennessee Medical Center.
CORPORATE-GUARANTEED LEASE
This NN lease has minimal landlord responsibilities and comes with a
corporate guarantee and fixed rent increases within remaining lease option.
No state income tax in Tennessee provides a low tax burden for
the investor. The subject property is located within a key area for continued
growth and development, with an annual household income of more than
$85,000 within five miles of the site.
LOCATED IN GROWING MARKET AREA
Home of the University of Tennessee “Vols,” Knoxville is known by many as the
“hidden gem” of Tennessee. The third largest city in the state after Nashville
and Memphis, Knoxville is home to a growing population of over 185,000,
and the Knoxville Metropolitan Statistical Area has a population of nearly
853,000. In 2008, Forbes named Knoxville one of the “Top 10 Metropolitan
Hotspots in the U.S.,” and the city was listed in the magazine’s “Top 5 Hot
Spots for Business and Careers,” just behind New York and Los Angeles. In
2011, Kiplinger ranked Knoxville at number five on its list of “Best Value Cities”
for its college sports, close proximity to the Smoky Mountains, and the city’s
entrepreneurial spirit.
ESTABLISHED, RECOGNIZED TENANT
The Vitamin Shoppe is an omni-channel specialty retailer and contract
manufacturer of nutritional products based in Secaucus, NJ. The Vitamin
Shoppe is the second largest vitamins, minerals, and supplements retailer
with over $1 billion in annual revenue. The company operates over 700
stores throughout the U.S. and Puerto Rico, and offers 26,000 top-quality
supplements from over 400 top national brands, all at everyday low prices.
9
THE VITAMIN SHOPPE AERIAL
WALKER SPRINGS RD.
11,422 ADT
N GALLAGHER VIEW RD.
19,519 ADT
INTERSTATE 40
179,906 ADT
DOWNTOWN W BLVD.
10,080 ADT
RAY MEARS BLVD.
8,182 ADT
BEARDEN HIGH
SCHOOL
GLEASON DR. NW
8,226 ADT
12
INTERSTATE 40
196,214 ADT
WEST TOWN MALL
KINGSTON PIKE/SR-1
30,090 ADT
West Town Mall is an upscale
shopping and lifestyle
destination in Knoxville. With
five anchors, more than 150
stores, and 1.3 million square
feet of GLA, this is the largest
of any enclosed shopping mall
in the sate of Tennesee.
MONTVUE RD.
19,445 ADT
7833
13
THE VITAMIN SHOPPE AREA MAP
INTER
196
INTERSTATE 40
179,906 ADT
SUBURBAN
PLAZA
DEAD HORSE LAKE
GOLF COURSE TOWN & COUNTRY
COMMONS
WALKER SPRINGS
PLAZA
BEARDEN HIGH
SCHOOL
W
C
I
p
PARKWEST MEDICAL CENTER T
Named by Forbes as one of “America’s o
Best Large Employers” in 2017, Parkwest fi
Medical Center is West Knoxville’s s
premier medical facility and a top s
performing heart hospital. Parkwest e
is part of Covenant Health Systems,
and is now one of the nation’s Top 100
integrated health systems, serving a
16-county area of East Tennessee.
14RSTATE 40
6,214 ADT
WEST TOWN MALL
Conveniently located off Exit 380 on
I-40, West Town Mall is considered the
premier shopping destination in East
Tennessee. With over 150 stores—40
of which are exclusive to the area—and
five major anchor tenants, the 1.3 million
square foot lifestyle and entertainment
shopping center is the largest of any
enclosed shopping mall in the state.
15KNOXVILLE AREA MAP
AREA ATTRACTIONS
NAME MILES
Knoxville College 7
University of Tennessee 8
UT Medical Center 8
Downtown Knoxville, TN 8
Thompson-Boling Arena 9
Neyland Stadium 9
McGee Tyson Airport 18
Dollywood 41 VANDERBILT UNIVERSITY
Downtown Nashville, TN 172 Vanderbilt University was listed as
the “Number One College City
Students Love” by the Princeton
Review in 2016, and is currently
ranked fifteenth among all national
NASHVILLE
universities in the U.S. by the U.S.
News & World Report.
KN
NASHVILLE, TN
Nashville is the capital of the state
of Tennessee and home to world-
famous attractions including:
Vanderbilt University, as well as
legendary country music venues like
the Grand Ole Opry, the Country
Music Hall of Fame, and the Honkey
Tonk Highway. Nashville was recently
named on the Travel & Leisure list of
“50 Best Places to Travel in 2017.”
GEORGIA
ALABAMA
ATLANTA
16UNIVERSITY OF TENNESSEE
The “Vols” are part of the SEC, and VIRGINIA
the women’s basketball team has
won more championships than almost
any other team in SEC history.
The University of Tennessee was
named a Best Southeastern College
by the Princeton Review and hosts
more than 28,000 students yearly
thanks to a $1.1 billion endowment.
NOXVILLE NORTH CAROLINA
CHARLOTTE
KNOXVILLE, TN
Home of the University of Tennesee
“Vols,” and named by Forbes as
one of the “Top 10 Metropolitan Hot
Spots in the U.S,” Knoxville’s biggest
SOUTH CAROLINA
attractions include: Market Square,
the Tennessee Theatre, World’s Fair
Park (the location of the Sunsphere),
Neyland Stadium, and Zoo Knoxville.
COLUMBIA
17Downtown Knoxville as seen
from World’s Fair Park.
KNOXVILLE MARKET OVERVIEW
Home of the University of Tennessee “Vols,” states and more than 100 foreign countries
Knoxville is known by many as the “hidden each year. The university also employs nearly
gem” of Tennessee. The third largest city in the 10,000 faculty and staff members, and has a
state after Nashville and Memphis, Knoxville is $1.6 billion impact on the Tennessee economy.
home to a growing population of over 185,000, The public university was ranked 46th among
and the Knoxville Metropolitan Statistical Area public institutions of higher learning by the U.S.
has a population of nearly 853,000. News & World Report in its 2017 universities
Ever since Knoxville hosted the World’s ranking, and the school has a $1.1 billion
Fair in the early 1980s, the city has boomed, endowment and a total budget (as of 2015) of
both culturally and economically. In 2008, more than $758 million.
Forbes named Knoxville one of the “Top 10 In recent years, Knoxville has gained
Metropolitan Hotspots in the U.S.,” and the attention for its major downtown revitalization
city was listed in the magazine’s “Top 5 Hot projects, earning the city a nod from Trip
Spots for Business and Careers,” just behind Advisor as a “Top Ten Destination on the Rise.”
New York and Los Angeles. In 2011, Kiplinger What makes this city so unique is that so many
ranked Knoxville at number five on its list of of its attractions are within walking distance of
“Best Value Cities” for its college sports, close the downtown area, the city’s central business,
proximity to the Smoky Mountains, and the shopping, and entertainment district. The
city’s entrepreneurial spirit. Sunsphere in World’s Fair Park has become a
The University of Tennessee at Knoxville is highlight of the Knoxville skyline, while sports
a major economic draw to the area, hosting fans flock to see the “Vols” in action at the
an average of 28,000 students from all 50 University of Tennessee’s Neyland Stadium.
18DEMOGRAPHICS 1 MILE 3 MILES 5 MILES
2017 Estimated Population 7,792 65,309 126,622
2022 Projected Population 7,965 66,589 129,027
2010 Census Population 7,470 62,902 122,157
2000 Census Population 7,048 56,556 109,016
POPULATION
Projected Annual Growth (2017–2022) 0.4% 0.4% 0.4%
Historical Annual Growth (2000–2017) 0.6% 0.9% 0.9%
2017 Estimated Households 4,206 30,257 56,012
2022 Projected Households 4,381 31,603 58,531
2010 Census Households 3,901 28,461 52,874
2000 Census Households 3,614 25,334 47,226
Projected Annual Growth (2017–2022) 0.8% 0.9% 0.9%
Historical Annual Growth (2000–2017) 1.0% 1.1% 1.1%
2017 Est. HH Income $200,000+ 6.8% 7.0% 8.5%
2017 Est. HH Income $150,000–$199,999 4.6% 4.9% 5.8%
2017 Est. HH Income $100,000–$149,999 13.7% 13.9% 13.7%
2017 Est. HH Income $75,000–$99,999 10.2% 12.8% 13.1%
INCOME
2017 Est. HH Income $50,000–$74,999 17.7% 19.1% 18.8%
2017 Est. HH Income $35,000–$49,999 15.7% 14.6% 13.2%
2017 Est. HH Income $25,000–$34,999 10.9% 8.8% 8.9%
2017 Est. HH Income $15,000–$24,999 11.9% 9.9% 9.0%
2017 Est. HH Income Under $15,000 8.6% 8.9% 9.0%
2017 Est. Average Household Income $75,543 $79,169 $85,510
2017 Est. Median Household Income $60,268 $65,533 $69,133
2017 Est. White 83.3% 83.7% 84.7%
2017 Est. Black 6.4% 6.8% 6.9%
2017 Est. Asian or Pacific Islander 4.5% 4.0% 3.7%
2017 Est. American Indian or Alaska Native 0.3% 0.3% 0.3%
RACE
2017 Est. Other Races 5.5% 5.2% 4.4%
2017 Est. Hispanic Population 510 3,630 6,024
2017 Est. Hispanic Population 6.5% 5.6% 4.8%
2022 Proj. Hispanic Population 7.5% 6.4% 5.4%
2010 Hispanic Population 6.2% 5.2% 4.4%
19THE VITAMIN SHOPPE
Actual Property
MICHAEL ZIMMERMAN ALLISON KIRCHNER
919.391.9901 919.391.9902
mzimmerman@atlanticretail.com akirchner@atlanticretail.com
investmentservices@atlanticretail.com investmentservices@atlanticretail.com
This property is listed in conjunction with Tennessee broker DZ Net Lease Realty, LLC (license 262628).You can also read
