July 3, 2024 – Chris King and Matt Nadler of Horvath & Tremblay have successfully completed the sale of Advance Financial in Alcoa, Tennessee. Horvath & Tremblay exclusively represented the seller to complete the transaction at a sale price of $523,350.
Advance Financial is located at 348 South Calderwood Street in Alcoa, Tennessee. Advance Financial has 4 years remaining on their 11-year, Absolute NNN lease. The lease features attractive 2.0% annual rental increases throughout the base term. Advance Financial has given notice that they be vacating the Property and will not renew their lease at the expiration of their primary lease term. They will continue to pay rent for the remainder of their lease term while the location is dark. The Property is well-located in Alcoa and benefits from excellent visibility, with prominent signage and convenient access along South Calderwood Street. Advance Financial is on a primary commercial corridor and is just down the street from the New Midland Plaza, a 365,000+ square foot retail center featuring a number of national retailers and local businesses serving the surrounding communities.
Horvath & Tremblay is one of the most active and successful Investment Real Estate Brokerage firms in the United States. Our advisors specialize in the sale of single tenant net-lease assets and retail shopping centers. They have experience successfully structuring sale lease-back programs, portfolio dispositions, and 1031 exchanges. Horvath & Tremblay is dedicated to being the best source of information and expertise in the marketplace for private investors, developers, institutions, and industry professionals.