Jack’s Ground Lease,
Rome, GA Investment Summary
| Price | $1,142,857 |
| Cap Rate | |
| NOI | $60,000 |
| Lease Term | 15 Years, with 13 Years Remaining |
| 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 Years |
| Year Built | 2016 |
| Building Size | 3,645 SF |
| Lot Size | 1.1 Acres (48,090 SF) |
| Status | Sold |
| Lead Brokers | 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 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 Cushman and Wakefield Inc. LIC. # 00616335 This property is listed in conjunction with Georgia-licensed real estate broker Delta Commercial. |
Investment Highlights
LONG-TERM ABSOLUTE NNN GROUND LEASE TO CORPORATE TENANT
» Long-term lease with 13 years remaining in the initial term, plus four five-year option periods
» No landlord management, ideal for an out-of-area investor
» 10% rental increases every five years, providing a hedge against inflation
HIGH-TRAFFIC LOCATION IN DENSE RETAIL CORRIDOR
» Conveniently located on U.S. Highway 27, Rome’s main north-south thoroughfare, with excellent access and visibility to 27,300 vehicles per day
» Directly across from Mount Berry Mall, a popular regional shopping destination with a primary trade area population of over 300,000
» Nearby retailers include national tenants like JCPenney, Belk, Dunham’s Sports, McDonald’s, Party City, Verizon, Dollar Tree, and O’Reilly Auto Parts
CENTRAL LOCATION WITH STRONG CUSTOMER BASE
» Less than four miles from downtown Rome
» Adjacent to Berry College—which has 2,110 students and 600 employees—and minutes from several other schools, including Armuchee High School (595 students), Glenwood Primary School (502 students), and Rome Middle School and Rome High School (2,664 students)
» Near Floyd Medical Center (304 beds and 2,700 employees) and Redmond Regional Medical Center (230 beds and 1,200 employees)
» Close to State Mutual Stadium, the home of Rome’s minor league baseball team
» Within walking distance of the Rome Tennis Center, which is the nation’s largest hard court tennis facility and hosts several tennis tournaments that are among Rome’s most popular tourist events
NEW CONSTRUCTION WITH DRIVE-THRU
» High-quality 2016 construction featuring dedicated drive-thru
» Built by tenant at tenant’s expense, showing long-term commitment to the location
Click Here to Download Offering Memorandum
Property Description
SOLD
The property is conveniently located on U.S. Highway 27, Rome’s main north-south thoroughfare, with excellent access and visibility to 27,300 vehicles per day. The property is directly across from Mount Berry Mall, a popular regional shopping destination that attracts residents from the surrounding community as well as those visiting and traveling through the area. The mall features a strong base of national retailers, including JCPenney, Belk, The Children’s Place, GNC, MasterCuts, Kay Jewelers, and Dunham’s Sports. Other notable retailers located near the property include McDonald’s, Taco Bell, Party City, Verizon, Waffle House, Dollar Tree, and O’Reilly Auto Parts.
The property is centrally located less than four miles from downtown Rome. The property is adjacent to Berry College— which has 2,110 students and 600 employees—and is minutes from several other schools, including Armuchee High School (595 students), Glenwood Primary School (502 students), and Rome Middle School and Rome High School (2,664 students). The property is also a short distance from Floyd Medical Center (304 beds and 2,700 employees) and Redmond Regional Medical Center (230 beds and 1,200 employees) and is close to popular recreational areas. State Mutual Stadium—the home of Rome’s minor league baseball team—is nearby, and the property is within walking distance of the Rome Tennis Center, which is the nation’s largest hard court tennis facility and hosts several tennis tournaments that are among Rome’s most popular tourist events.
