Investment Summary
Price | $2,291,000 |
Cap Rate | |
NOI | |
Lease Term | 10 Years |
Lease Type | Absolute NNN, With Tenant Responsible For All Taxes, Insurance, and Maintenance, Including, Roof, Structure, and Parking Lot |
Rental Increases | 2% Annual Rental Increases |
Year Built | 1984 |
Building Size | ±3,274 SF |
Lot Size | .81 Acres (35,196 SF) |
Status | Sold |
Lead Brokers | Michael T. Yuras, CCIM Cushman & Wakefield 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 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 |
Investment Highlights
10-YEAR ABSOLUTE NNN LEASE TO GROWING MEDICAL CARE PROVIDER
» 10-year absolute NNN lease with three (3) five-year option periods
» Rare 2% annual rental increases, providing an excellent hedge against inflation
» Peachtree Immediate Care is the largest urgent care operator in the greater Atlanta area
» Lease guaranteed by CRH Healthcare ($54 million annual revenue)
» Minimal landlord obligations, ideal for an out-of-area investor
» Location offers drive-thru COVID-19 testing
HIGH-TRAFFIC LOCATION IN DENSELY POPULATED, GROWING, AND AFFLUENT AREA
» Located at the signalized four-way intersection of Main Street and Alabama Road Northeast, with excellent visibility and access to a combined 99,800 vehicles per day at the intersection
» Convenient access to Interstate 575 (107,000 AADT), significantly increasing commuter traffic to the site
» 181,107 residents within a five-mile radius of the property, establishing a large customer base for the site
» Central location in a robustly affluent area, with an average annual household income of $110,644 within a five-mile radius of the site
» Projected 11% average annual household income increase within five miles of the site in the next five years, poising Peachtree Immediate Care and Woodstock for significant concurrent growth
CENTRAL LOCATION NEAR LARGE EMPLOYERS, RETAILERS, AND COMMUNITY HUBS
» Outparcel to Woodstock Village Shopping Center and surrounded by several national retailers, including Burger King, Sam’s Club, McDonald’s, Chick-fil-A, Del Taco, Dunkin’, Dairy Queen, Captain D’s, and many more, increasing visibility to the site
» Within walking distance of South on Main, a new housing development under construction to feature 573 units
» Gateway to Atlanta, the ninth largest metropolitan area in the U.S.
» Beneficial proximity to the highest-attended schools in the immediate area, including Kell High School (1,483 students) and Woodstock Elementary School (1,182 students)
Property Description
SOLD
The property is strategically located at the signalized four-way intersection of Main Street and Alabama Road Northeast, with excellent visibility and access to a combined 99,800 vehicles per day at the intersection. The location also maintains immediate access to Interstate 575, which experiences 107,000 AADT. The site is located in a densely populated and affluent city in the Atlanta MSA, with 181,107 residents living within a five-mile radius of the property, with an average annual household income of $110,644. Peachtree Immediate Care is also poised to grow along with the location, with a projected 11 percent average annual household income increase within five miles of the site in the next five years.
The property benefits from its central location near many of the region’s largest employers, retailers, and community hubs. The location is outparcel to Woodstock Village Shopping Center, promoting crossover shopping to the property. The site is surrounded by several national retailers, including Sam’s Club, Chick-fil-A, McDonald’s, Burger King, Del Taco, Dunkin’, Dairy Queen, Captain D’s, and many more. The location also benefits from being within walking distance of South on Main, a new housing development under construction to feature 573 units. The property maintains a beneficial proximity to the highest attended schools in the immediate area, including Kell High School (1,483 students) and Woodstock Elementary School (1,182 students). The site also serves as a common gateway to Atlanta, the ninth largest metropolitan area in the U.S.