Investment Summary
Price | $2,211,000 |
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 | Four (4) Five (5) Year Options |
Year Built | 2019 |
Building Size | 2,886 SF |
Lot Size | 1.05 Acres (45,738 SF) |
Status | Sold |
Lead Brokers | Vincent Aicale Cushman & Wakefield 415.690.5522 vince.aicale@cushwake.com CA RE License #01728696 Ryan Forsyth Cushman & Wakefield 415.413.3005 ryan.forsyth@cushwake.com CA RE License #01716551 Michael T. Yuras, CCIM Cushman & Wakefield 415.481.0788 michael.yuras@cushwake.com CA RE License #01823291 Scott Crowle Senior Director 415.604.4288 scott.crowle@cushwake.com CA RE License #01318288 |
Investment Highlights
LONG-TERM NNN GROUND LEASE TO ICONIC TENANT
» 20-year NNN ground lease with 5% rental increases every five years, providing a hedge against inflation
» Leased to GPS Hospitality, one of the largest Burger King/QSR franchisees, which operates over 400 family-friendly restaurants in 11 states
» No landlord obligations – ideal investment for an out-of-area investor
» Burger King is the second largest fast food hamburger chain in the world, with 17,796 restaurants in over 100 countries
HIGH-TRAFFIC LOCATION IN STRONG RETAIL AREA
» Located at the signalized intersection of Fairburn Road and Earl D Less Boulevard, with excellent visibility and access to 32,100 vehicles per day
» Immediate access to Interstate 20, which serves as the primary route between Atlanta and its western suburbs and has a high traffic volume of 108,000 vehicles per day near the property
» Surrounded by major retailers, including Kroger, AutoZone, Family Dollar, Aaron’s, Goodwill, NAPA Auto Parts, CVS, and many others
» Near Arbor Place, western Georgia’s largest mall, which has a trade area population of approximately 850,000, bringing significant traffic to the surrounding area
» Strong area population of 94,772 residents living within a five-mile radius
CENTRAL LOCATION NEAR IMPORTANT COMMUNITY AMENITIES
» Close to Douglas County High School, which has a total enrollment of over 1,895 students
» Near WellStar Douglas Hospital, the primary hospital for Douglas County
» WellStar Douglas Hospital is the largest employer in Douglasville—with 830 employees—and is one of the top-ranked hospitals in Georgia
Property Description
SOLD
The property is conveniently located at the signalized intersection of Fairburn Road and Earl D Lee Boulevard, with excellent visibility and access to 32,100 vehicles per day. The property enjoys immediate access to Interstate 20, which serves as the primary route between Atlanta and its western suburbs and has a high traffic volume of 108,000 vehicles per day near the property. Located in a strong retail corridor, the property is surrounded by major retailers, including Kroger, AutoZone, Family Dollar, Aaron’s, Goodwill, NAPA Auto Parts, CVS, and many others. The property is also a short distance from Arbor Place, a regional mall serving the growing western suburbs of Atlanta. As the largest mall in western Georgia, Arbor Place serves a large trade area consisting of eight counties in Georgia and a significant area in eastern Alabama. Arbor Place features over 125 stores, including Belk, Dillard’s, Macy’s, Sears, and an 18-screen movie theatre.
The property is also close to several important community amenities, including the 1,895-student Douglas County High School and the 108-bed WellStar Douglas Hospital. Additionally, the property is supported by a strong customer base, with 94,772 residents with an average household income of $73,607 living within a five-mile radius.