Investment Summary
Price | $2,577,000 |
Cap Rate | 5.65% |
NOI | $145,600 |
Lease Term | 10 years |
Lease Type | Net, with tenant responsible for all taxes, insurance, and maintenance, excluding roof and structure |
Rental Increases | 10% rental increases every five (5) years |
Year Built | 2023 |
Building Size | 3,500 SF |
Lot Size | 0.85 acres (37,026 SF) |
Status | Available |
Lead Brokers | Vincent Aicale Vice Chairman 415.690.5522 vince.aicale@cushwake.com CA RE License #01728696 Ryan Forsyth Vice Chairman 415.413.3005 ryan.forsyth@cushwake.com CA RE License #01716551 Michael T. Yuras, CCIM Vice Chairman 415.481.0788 michael.yuras@cushwake.com CA RE License #01823291 Scott Crowle Executive Managing Director 415.604.4288 scott.crowle@cushwake.com CA RE License #01318288 |
Investment Highlights
10-YEAR NET LEASE TO FAST-GROWING HEALTHCARE TENANT
» 10-year net lease to Aspen Dental with 10% rental increases every five years
» Aspen Dental is one of the largest dental brands in the U.S. with over 1,000 locations across the nation with annual revenues of over $500 million
» Aspen Dental practices are the fastest-growing network of independently owned dental practices in the country; currently, a new Aspen Dental practice opens every week
» New 2023 construction built to Aspen Dental’s latest prototype
ADJACENT TO HIGH-PERFORMING WALMART SUPERCENTER IN TOP 33% NATIONALLY PER PLACER.AI
» High-visibility and easily accessible location along Old Historic U.S. 441 (32,500 AADT)
» Convenient access to U.S. Highway 23, allowing the site to capture significant additional traffic (29,850 AADT)
» Adjacent to a high-performing Walmart Supercenter (top 33% nationally, #43 in Georgia, #6 within 50 miles) per Placer.ai
» Excellent proximity to major national tenants such as Lowe’s Home Improvement, Tractor Supply Co, Dollar General, Popeyes, Zaxby’s, and many more
» Located near industrial operations of some of Habersham County’s largest employers, including Fieldale Farms (2,500 employees), Ethicon (550 employees), GlobalTech Industries (300 employees), and TenCate (260 employees)
DENSELY POPULATED AND GROWING METRO ATLANTA CITY WITH EXCELLENT SUBURBAN DEMOGRAPHICS
» 105,234 residents live within fifteen miles of the property, providing a large and reliable customer base for the site
» High average annual household income of $84,157 within a 10-mile radius
» Projected population and income increases within 1-, 3-, and 5-mile radii over the next five years poise Aspen Dental and Cornelia for steady concurrent growth
» Beneficial proximity to Habersham Medical Center (137 beds, 700 employees, average annual economic impact of approximately $90 million) and Piedmont College (2,264 students)
Property Description
» This Aspen Dental has a high-visibility and easily accessible location along Old Historic U.S. 441 (32,500 AADT), a major north-south thoroughfare traversing the entirety of Cornelia
» The property is beneficially located near U.S. Highway 23, allowing the site to capture significant additional traffic (29,850 AADT)
» Ideally set in a large retail corridor, the property is surrounded by notable tenants such as Walmart Supercenter (top 33% nationally, #43 in Georgia, #6 within 50 miles per placer.ai), Lowe’s Home Improvement, Tractor Supply Co, Dollar General, Popeyes, Zaxby’s, and many more, creating significant crossover shopping
» The site greatly benefits from its proximity near industrial operations of some of Habersham County’s largest employers, including Fieldale Farms (2,500 employees), Ethicon (550 employees), GlobalTech Industries (300 employees), and TenCate (260 employees)
» 105,234 residents live within a fifteen-mile radius of the site, providing a large and reliable customer base for Aspen Dental
» The location features excellent proximity to Habersham Medical Center (137 beds, 700 employees, average annual economic impact of approximately $90 million) and Piedmont College (2,264 students)