Lee & Associates, in association with ParaSell, Inc., is pleased to present the opportunity to acquire the fee simple interest in a single-tenant net leased Gus’s World Famous Fried Chicken located at 3100 Forest Hill Irene Road in Germantown, Tennessee, one of the most affluent communities within the Memphis MSA. The approximately 3,346-square-foot freestanding restaurant sits on a 32,104-square-foot parcel as an outparcel to the highly trafficked Shops of Forest Hill shopping center, anchored by Target and Sprouts Farmers Market. The property is leased to We Chickens, LLC (d/b/a Gus’s World Famous Fried Chicken), a nationally recognized restaurant brand with more than 35 locations across 15 states and roots dating back to 1953.

The investment is structured as a true NNN lease with full reimbursement of property taxes, insurance, and common area maintenance expenses. The lease commenced on March 1, 2022, and runs through February 28, 2037, providing more than 10 years of remaining term with three 5-year renewal options. Investors benefit from attractive 3% annual rent increases, a reported NOI of approximately $120,444, and a strong 4.3% rent-to-sales ratio that supports long-term tenant occupancy. Additional advantages include limited landlord responsibilities and the delivery of a new roof with transferable warranty.

Strategically positioned near the signalized intersection of Forest Hill Irene Road and Poplar Avenue, the property is surrounded by premier retail, medical, office, and residential developments. The trade area features exceptional demographics, including an average household income of approximately $284,637 within one mile and $197,215 within three miles, along with a population of more than 49,000 residents within a three-mile radius. Germantown is widely regarded as one of Tennessee’s most desirable communities, known for its highly educated workforce, nationally recognized schools, and strong quality of life, while the broader Memphis market benefits from major economic drivers such as FedEx headquarters and a diverse employment base.