Investment Summary
Price | $1,220,000 |
Cap Rate | |
NOI | |
Lease Term | 15 Years |
Lease Type | Absolute NNN, with Tenant Responsible for All Taxes, Insurance, Utilities, and Maintenance, Including Roof, Structure, and Parking Lot |
Rental Increases | 30% Rental Increase at the Beginning of Option 1 and 15% Rental Increases at the Beginning of Each Subsequent Option Period |
Year Built | 2016 |
Building Size | 6,804 SF |
Lot Size | 1.09 Acres (47,524 SF) |
Status | Under Contract |
Lead Brokers | Michael T. Yuras, CCIM Executive Managing Director 415.481.0788 michael.yuras@cushwake.com CA RE License #01823291 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
» 15-year NNN Ground lease to corporate tenant
» NNN Ground lease requires no landlord management, presenting the ideal “handsoff” investment opportunity
» 30% rental increase in Option 1 and 15% rental increases in subsequent option periods
» Below market rent
HIGH-TRAFFIC LOCATION IN PRIME RETAIL AREA
» Excellent visibility and access to 39,783 vehicles per day on State Bridge Road, one of Johns Creek’s primary thoroughfares
» Adjacent to North Bridges, a large retail plaza featuring Goodwill, Aldi, Outback Steakhouse, Fidelity Bank, and several others
» Minutes from significant retail centers located nearby in downtown Johns Creek and downtown Alpharetta
CENTRAL LOCATION WITH ROBUST DEMOGRAPHICS
» 108,572 daytime employees work within a five-mile radius
» Near business parks housing the high-tech operations of notable companies, including Equifax, LexisNexis, McKesson Technology Solutions, and Alcon Laboratories
» Within walking distance of Chattahoochee High School, one of the nation’s top high schools, with 1,855 students
» Close to 113-bed Emory Johns Creek Hospital
» 200,758 residents with an average household income of $130,515 live within a fivemile radius of the property
» The average household income within a three-mile radius is $143,425
FILL OUT THE FORM BELOW TO ACCESS OFFERING MEMORANDUM
Property Description
SOLD
The property is conveniently located on State Bridge Road, one of Johns Creek’s primary thoroughfares, with excellent visibility and access to 39,783 vehicles per day. Located in a prime retail area, the property is close to several large shopping centers and major national retailers. The property is adjacent to North Bridges, a large retail plaza featuring Goodwill, Aldi, Outback Steakhouse, Fidelity Bank, and several others. Other notable retailers in the immediate area include Ace Hardware, Kroger, McDonald’s, Tuesday Morning, CVS, Petco, Publix, Dollar Tree, and Taco Bell. The property is just minutes from significant retail centers located nearby in downtown Johns Creek and downtown Alpharetta, including Alpharetta’s newly constructed Avalon mixed-use development. Avalon is an 86-acre development that includes 590,000 square feet of retail space, a 12-screen Regal Cinemas theater, 750,000 square feet of Class A office space and office lots, 101 single-family residences, 250 luxury rental homes, 276 multi-family units, and a 330-room hotel and conference center with 47,000 square feet of meeting space. Avalon is projected to generate more than 4,000 new permanent retail sector, white-collar, and hotel service jobs.
The property benefits from its central location supported by excellent demographics. Several major employers are located nearby in Johns Creek’s and Alpharetta’s business parks. Among these employers are multiple high-tech operations for notable companies, including Equifax, LexisNexis, McKesson Technology Solutions, and Alcon Laboratories. In total, 108,572 daytime employees work within a five-mile radius of the property. The property is also located within walking distance of Chattahoochee High School, one of the nation’s top high schools, with 1,855 students. The 113-bed Emory Johns Creek Hospital is just minutes away, and the property is surrounded by affluent residential neighborhoods. The average household income within a three-mile radius is $143,425, and 200,758 residents with an average household income of $130,515 live within a five-mile radius of the property, providing an excellent customer base.