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