Starbucks & Mattress Firm,
Fayetteville, GA Investment Summary
| Price | $3,958,052 |
| Cap Rate | |
| NOI | |
| Lease Term | Various |
| Lease Type | |
| Rental Increases | Various |
| Year Built | 2016 |
| Building Size | 5,926 sq. ft. |
| Lot Size | 0.60 Acres (43,995 sq. ft.) |
| Status | Sold |
| Lead Brokers | Michael T. Yuras, CCIM Executive Director 415.481.0788 michael.yuras@cushwake.com CA RE License #01823291 |
Investment Highlights
TWO-TENANT RETAIL CENTER WITH SCHEDULED RENTAL INCREASES
» 100% leased to Starbucks and Mattress Firm
» 10-Year initial terms for both tenants
» Scheduled rental increases provide a hedge against inflation
EXCELLENT LOCATION IN DENSE RETAIL CORRIDOR
» Corner location with excellent access and visibility to 40,000 vehicles per day
» Directly across from Fayette Pavilion, which is the dominant power center in Fayetteville
RELOCATION SITE FOR SUCCESSFUL STARBUCKS
» Starbucks has operated successfully in the market for years and has an established customer base
» New location features a drive-thru, allowing Starbucks to provide additional convenience to customers and increase sales revenue
NEW 2016 CONSTRUCTION
» High-quality construction featuring latest store designs and concepts
Click Here to Download Offering Memorandum
Property Description
SOLD
The property is strategically located at the corner of Walker Parkway and Georgia State Route 85, with access and visibility to 40,000 vehicles per day. The property is situated in a dense retail corridor, with multiple shopping centers located near the site. Banks Crossing and Banks Station are less than a mile from the property and are tenanted by JCPenney, Kroger, Cinemark, and Staples, among others. Fayette Pavilion is directly across from the site. Anchored by Walmart Supercenter, Home Depot, Target, and Kohl’s, Fayette Pavillion features 1,528,192 square feet of retail space, 78 stores and services, and is the dominant power center in the region.
The site benefits from its proximity to several schools and the strong area demographics. Several public and private schools are located within a three-mile radius of the property, including Fayette County High School, which is only two miles from the site and has an enrollment of 1,349 students. Additionally, there are high household incomes in the immediate area. The average household income within a one-mile radius of the property is $82,307.
Starbucks is relocating to the new property from a successful, nearby location. The new site includes a drive-thru for Starbucks, which will allow them to better serve their customers and increase their sales revenue (the previous location did not have a drive-thru).
