Dunkin’ Ground Lease,
Cartersville, GA Investment Summary
| Price | $1,235,000 |
| Cap Rate | |
| NOI | |
| Lease Term | 20 Years |
| Lease Type | Absolute NNN Ground Lease, with Tenant Responsible for All Taxes, Insurance, and Maintenance, Including Roof, Structure, and Parking Lot |
| Rental Increases | 10% Rental Increases Every Five (5) Years |
| Year Built | 2021 |
| Building Size | 2,408 SF |
| Lot Size | 0.82 Acres (35,720 SF) |
| Status | Sold |
| Lead Brokers | Vincent Aicale Executive Director 415.690.5522 vince.aicale@cushwake.com CA RE License #01728696 Ryan Forsyth Executive Director 415.413.3005 ryan.forsyth@cushwake.com CA RE License #01716551 Scott Crowle Managing Director 415.604.4288 scott.crowle@cushwake.com CA RE License #01318288 Michael T. Yuras, CCIM Executive Managing Director 415.481.0788 michael.yuras@cushwake.com CA RE License #01823291 |
Investment Highlights
NEW 20-YEAR ABSOLUTE NNN GROUND LEASE
» Leased to strong Dunkin’ franchisee (45+ locations)
» Absolute NNN ground lease with zero landlord management responsibilities
» 10% fixed rental increases every five years in initial term and extension terms, providing a hedge against inflation
» Dunkin’ (NASDAQ: “DNKN”) is the world’s leading baked goods and coffee chain, serving more than 3 million customers per day
PRIME LOCATION IN A DENSE RETAIL CORRIDOR IN ECONOMICALLY DIVERSE ATLANTA MSA MARKET
» Located on West Avenue, with 16,710 vehicles per day in front of the site, and surrounded by many national retailers including Ingles, McDonald’s, Taco Bell, Wendy’s, Ace Hardware, Arby’s, among many others
» Directly across the highway from Shaw Industries (2,562 employees), one of the major employers in the area
» Minutes from Cartersville Elementary School, Cartersville Middle School, and Cartersville Primary School (3,200 students combined)
» Dominant industries in the region include floor coverings, tires, beer, electricity, steel, textile, automotive components, and marine/agriculture
» Wide 25-mile trade area
NEW 2021 CONSTRUCTION
» Features dedicated drive-thru, providing additional customer convenience and boosting sales revenue
» New building, limiting near-term deferred maintenance or capital costs
Property Description
SOLD
The property is located on West Avenue with excellent access and visibility to 16,710 vehicles per day directly in front of the property. The surrounding area is affluent and densely populated with 47,335 residents within five miles of the property and an average household income of $87,616 residents within one mile of the property. The population is expected to increase by more than 13 percent in the next 5 years poising the area for continued growth. There are many national retailers in the surrounding area including Ingles Market, Ace Hardware, CVS Pharmacy, Advance Auto Parts, McDonald’s, Arby’s, Zaxby’s and many others.
