McAlister’s Deli,
Milledgeville, GA Investment Summary
| Price | $2,470,000 |
| Cap Rate | |
| NOI | |
| Lease Term | 20 Years |
| Lease Type | Absolute NNN, 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 | 2020 |
| Building Size | 3,523 SF |
| Lot Size | 1.7 Acres (74,052 SF) |
| Status | Sold |
| Lead Brokers | Michael T. Yuras, CCIM Executive Managing Director 415.481.0788 michael.yuras@cushwake.com CA RE License #01823291 Scott Crowle Managing Director 415.604.4288 scott.crowle@cushwake.com CA RE License #01318288 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 |
Investment Highlights
20-YEAR ABSOLUTE NNN LEASE WITH SCHEDULED RENTAL INCREASES
» 20-year absolute NNN lease with one of the largest McAlister’s Deli franchisees (70+ units)
» No landlord management, ideal for an out-of-area investor
» 10 percent rental increases every five years, providing a hedge against inflation
IRREPLACEABLE INFILL LOCATION IN DENSE RETAIL CORRIDOR
» Access from Roberson Mill Road and North Columbia Street (combined 57,700 AADT)
» 31,326 residents within a five-mile radius, increasing traffic to the site
» $81,454 average household income within one mile of the property
» Neighbored by Milledgeville Mall (231,000 SF of retail space, 35 stores), increasing visiblity to the site
» Fire truck producer, Fouts Brothers, Inc., will soon have its headquarters located in the warehouse diagonally from the property, bringing 300+ jobs to the already dense
corridor, and increasing the customer base for McAlister’s Deli
CENTRALLY LOCATED NEAR LARGE SCHOOLS, EMPLOYERS, AND COMMUNITY HUBS
» Two miles from Navicent Health Baldwin (140 beds, 4,600 employees)
» Near large schools, including Oak Hill Middle School, Baldwin High School, Lakeview Academy, and Midway Hills Primary School (combined 3,692 students)
» One mile from the only Walmart Supercenter within 17 miles
» Within two miles of Walter B. Williams Jr. Park and Little Fishing Creek Golf Course (18- hole, par 72 course)
» Gateway to Lake Sinclair (80,000 residents, 400 miles of shoreline)
NEW 2020 CONSTRUCTION
» Features latest McAlister’s Deli prototype
» Includes pick-up window for take-out orders made online or via phone, increasing the site’s convienence for customers
Property Description
SOLD
The property is conveniently located on Roberson Mill Road with visibility and access to 23,600 vehicles per day directly in front of the property. The site benefits from its immediate proximity and accessibility from North Columbia Street, which experiences 34,100 AADT. Visibility is increased by the site being in a densely populated and affluent area. 31,326 residents live within a five-mile radius of the property, with an average household income of $81,454 within one mile. Located in a dense retail corridor, the site is surrounded by national retailers like ALDI, McDonald’s, Starbucks, Burger King, PetSmart, AMC Theatres, and many more. Traffic to the property is increased by the location neighboring Milledgeville Mall, which features 231,000 SF of retail space and 35 stores, including T.J. Maxx, OfficeMax, Belk, Five Below, and more.
The site benefits from its central location near large schools, employers, and community hubs. The property is two miles from Navicent Health Baldwin (140 beds, 4,600 employees) and near large schools, including Oak Hill Middle School, Baldwin High School, Lakeview Academy, and Midway Hills Primary School (combined 3,692 students). The property also benefits by being one mile from the only Walmart Supercenter within 17 miles. The site is within two miles of Walter B. Williams Jr. Park, Little Fishing Creek Golf Course (18-hole, par 72 course), and serves as a gateway to Lake Sinclair (80,000 residents, 400 miles of shoreline).
