Investment Summary
Price | $2,750,000 |
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 | 2017 |
Building Size | 5,500 SF |
Lot Size | 1.0 acre (43,560 SF) |
Status | Sold |
Lead Brokers | Vincent Aicale Cushman & Wakefield 415.690.5522 vince.aicale@cushwake.com CA RE License #01728696 Michael T. Yuras, CCIM Cushman & Wakefield 415.481.0788 michael.yuras@cushwake.com CA RE License #01823291 Ryan Forsyth Cushman & Wakefield 415.413.3005 ryan.forsyth@cushwake.com CA RE License #01716551 Scott Crowle Senior Director 415.604.4288 scott.crowle@cushwake.com CA RE License #01318288 |
Investment Highlights
LONG-TERM ABSOLUTE NNN GROUND LEASE TO ICONIC TENANT
» Leased to Chick-fil-A, Inc. for 20 years—with 18 years remaining—plus eight five-year options
» 10% rental increases every five years, providing a hedge against inflation
» No landlord management, providing the ideal investment opportunity for an outof-area investor
» Chick-fil-A has iconic brand recognition and a loyal customer base
HIGH-TRAFFIC LOCATION WITH IMMEDIATE FREEWAY ACCESS
» Excellent visibility and access to 66,060 vehicles per day directly in front of the site at the signalized intersection of Manchester Expressway and Armour Road
» Visible from and immediately accessible to Interstate 185 (72,200 AADT)
» Interstate 185 is the primary freeway in the region and connects the Columbus and Atlanta metropolitan areas
» Located in the dense retail area surrounding Peachtree Mall, the only superregional shopping center within 60 miles
NEAR MAJOR EMPLOYERS AND COMMUNITY AMENITIES
» Within walking distance of both Columbus State University and St. Francis Hospital
» Columbus State University has approximately 8,500 students and 1,200 employees
» Columbus State University’s economic impact is more than $295 million annually
» The 376-bed St. Francis Hospital is a major economic driver, employing a staff of 2,800
» 101,286 daytime employees work and 165,548 residents live within a five-mile radius
NEW 2017 CONSTRUCTION
» Features dual-lane drive-thru, catering to through traffic along Interstate 185
» Ample onsite parking
Property Description
SOLD
The property is conveniently located at the signalized intersection of Manchester Expressway and Armour Road, with excellent visibility and access to 66,060 vehicles per day directly in front of the site. The propertyis visible from and immediately accessible to Interstate 185, which experiences a high traffic count of 72,200 vehicles per day. Interstate 185 is the primary freeway in the region and connects the Columbus and Atlanta metropolitan areas. The property is located in the dense retail area surrounding Peachtree Mall, the only super-regional shopping center within 60 miles. Notable tenants in the area include Macy’s, At Home, Dillard’s, JCPenney, AMC Theatres, Walmart Neighborhoods Market, Dollar General, Marriott, Circle K, and many others.
The property within walking distance of both Columbus State University and St. Francis Hospital. Columbus State University, ranked among the top regional universities in the South by U.S. News & World Report,has approximately 8,500 students and 1,200 employees. As a major employer in the area, Columbus State University’s economic impact on its surrounding region is more than $295 million annually. The 376-bed St. Francis Hospital is also a major economic driver, employing a staff of 2,800. The property is supported by a large customer base in the surrounding area; 101,286 daytime employees work and 165,548 residents live within a five-mile radius.