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Piedmont Urgent Care by WellStreet, Marietta, GA

Piedmont Urgent Care by WellStreet, Marietta, GA


Investment Summary

Price $3,294,000
Cap Rate 5.50%
NOI $181,125
Lease Term 15 years
Lease Type Net lease, with tenant responsible for all taxes, insurance, maintenance, and repair, excluding roof, structure, and parking lot
Rental Increases Approximate 10% rental increases every five (5) years
Year Built 2023
Building Size 4,500 SF
Lot Size 0.50 acres (21,781 SF)
Status Available
Lead Brokers Michael T. Yuras, CCIM
Vice Chairman
415.481.0788
michael.yuras@cushwake.com
CA RE License #01823291

Scott Crowle
Executive Managing Director
415.604.4288
scott.crowle@cushwake.com
CA RE License #01318288

Vincent Aicale
Vice Chairman
415.690.5522
vince.aicale@cushwake.com
CA RE License #01728696

Ryan Forsyth
Vice Chairman
415.413.3005
ryan.forsyth@cushwake.com
CA RE License #01716551

Investment Highlights

NEW 15-YEAR NET LEASE TO CORPORATE MEDICAL TENANT
» 15-year net lease to corporate healthcare tenant
» Approximate 10% rental increases every five (5) years, providing a safe long-term investment
» Piedmont Urgent Care by WellStreet is the largest urgent care network in Georgia
» New 2023 high-quality construction built to the latest Piedmont Urgent Care prototype

OUTPARCEL TO PUBLIX-ANCHORED SHOPPING CENTER IN ATLANTA MSA
» Prominent location right off Interstate 575 with excellent freeway visibility and access to 97,000 vehicles per day
» Conveniently located along Bells Ferry Road, a major north-south thoroughfare traversing the entirety of Kennesaw (27,100 AADT)
» Outparcel to Orchard Square Mall, a Publix-anchored shopping center featuring multiple national tenants, creating multiple crossover shopping opportunities for the site
» Beneficial proximity to an Amazon Warehouse (3,500 full-time employees in Georgia), directly servicing one of Kennesaw’s largest employers
» Trophy setting in a dense retail corridor near major high-traffic national tenants such as The Home Depot, Kroger, Publix, Big Lots, Chick-fil-A, McDonald’s, Starbucks, and many more
» Less than 2.7 miles from Kennesaw State University (42,000+ students, 4,834 employees,$1.8B annual economic impact), attracting significant additional traffic to the site

LARGE AND AFFLUENT LOCATION IN GROWING ATLANTA SUBURB
» Large customer base with 206,540 residents living within a five-mile radius (18% increase since 2010)
» Located in an extremely affluent area with an average annual household income of $129,011 within one mile
» Projected income increases within 1-, 3-, and 5-mile radii over the next five years poise Piedmont Urgent Care by WellStreet and Marietta for steady concurrent growth
» Gateway to Downtown Atlanta, the most populous city in Georgia (498,715 residents), and part of the ninth-largest metro area in the U.S. (6.1 million people)
» Georgia’s business climate has been ranked #1 in the nation for the eighth consecutive year by Site Selection and Area Development ranked Georgia the top state for doing business for the seventh year in a row

Property Description

» This Piedmont Urgent Care by WellStreet has a convenient location along Bells Ferry Road, a major north-south thoroughfare traversing the entirety of Kennesaw (27,100 AADT)
» The property is in a trophy location prominently located right off Interstate 575 with excellent freeway visibility and access to 97,000 vehicles per day
» The site is 2.7 miles from Kennesaw State University (42,000+ students, 4,834 employees, $1.8B annual economic impact), attracting significant additional traffic to the site
» 206,540 residents live within five miles of the property (18% growth since 2010) with a high average annual household income of $129,011 within a one-mile radius, which is projected to increase 18% by 2027, poising Piedmont Urgent Care by WellStreet and Marietta for steady concurrent growth
» The site is a gateway to Downtown Atlanta, the most populous city in Georgia (498,715 residents), and part of the ninth-largest metro area in the U.S. (over six million people)
» Georgia’s business climate has been ranked #1 in the nation for the eighth consecutive year by Site Selection and Area Development ranked Georgia the top state for doing business for the seventh year in a row

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