Investment Summary
Price | $2,041,200 |
Cap Rate | |
NOI | |
Lease Term | 25 Years |
Lease Type | Absolute NNN, with Tenant Responsible for All Taxes, Insurance, and Maintenance, Including Roof, Structure, and Parking Lot |
Rental Increases | 1% Annual Rental Increases |
Year Built | 2019 |
Building Size | 2,796 SF |
Lot Size | 1.71 Acres (74,487 SF) |
Status | Sold |
Lead Brokers | Michael T. Yuras, CCIM Cushman & Wakefield 415.481.0788 michael.yuras@cushwake.com CA RE License #01823291 Scott Crowle Senior 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
25-YEAR ABSOLUTE NNN LEASE WITH ANNUAL RENTAL INCREASES
» Operated by Taco Bell’s largest franchisee, with over 350 units
» Absolute NNN lease with no landlord management, providing an ideal investment for an out-of-area investor
» Rare annual rental increases, providing an excellent hedge against inflation
» Tenant is responsible for taxes, insurance, and all maintenance
» Brand new build-to-suit property
HIGH-TRAFFIC LOCATION IN POPULATED AND GROWING AREA
» 23,451 residents within a five-mile radius of the property
» Within five miles of Interstate 16 and U.S. Route 441, two primary Dublin thoroughfares that traverse the entirety of Georgia
» Projected 17 percent average household income increase within five miles of the site in the next five years
» Central location between Atlanta, Augusta, and Savannah, funneling commuter traffic directly to the site
IRREPLACEABLE INFILL LOCATION NEAR LARGE SCHOOLS, EMPLOYERS, AND RETAILERS
» Across the street from the only Walmart Supercenter location within 25 miles of the property
» Two miles from the Carl Vinson VA Medical Center and Fairview Park Hospital (combined 500 beds, 1,800 employees)
» Beneficial proximity to highly attended schools, including Dublin High School (629 students), Dublin Middle School (520 students), and Hillcrest Elementary School (453 students)
» Within two miles of two major shopping centers with a combined 503,000 SF of retail space and 46 stores
MAJOR NATIONAL TENANT WITH STRONG FINANCIALS
» Taco Bell serves more than 40 million customers each week in the U.S., with annual sales projected to reach $15 billion by 2022
» Voted Best Mexican Restaurant of 2018 in the Harris Poll 2018
» Owned by Yum! Brands, Inc. (over 48,000 restaurants in more than 145 countries and territories)
Property Description
SOLD
The property is conveniently located and easily accessible from U.S. Highway 80, a major economic and retail corridor for Dublin, with visibility and access to 10,200 vehicles per day directly in front of the location. The property is also within five miles of Interstate 16 and U.S. Route 441, two primary Dublin thoroughfares that traverse the entirety of Georgia. The property benefits from its central location in a highly populated area, with 23,451 residents living within a five mile radius of the location. Traffic to the site is increased by the property’s location between Atlanta, Augusta, and Savannah, funneling commuter traffic directly to the site. The location is primed to grow along with the surrounding area, with a 17 percent average household income increase within five miles of the site projected in the next five years.
The property benefits from its irreplaceable infill location near large schools, employers, and retailers. The site is located across the street from the only Walmart Supercenter location within 25 miles of the property and is surrounded by several other national tenants, including Pizza Hut, Arby’s, AMC Theaters, Chickfil- A, Wendy’s, OfficeMax, and many more. The location resides two miles from two primary Dublin health care providers, the Carl Vinson VA Medical Center and Fairview Park Hospital (combined 500 beds, 1,800 employees). Visibility is increased by the site’s location in a densely populated retail corridor, as the property is within two miles of two major shopping centers with a combined 503,000 SF of retail space and 46 stores. The site also benefits from its proximity to multiple highly attended schools, including Dublin High School (629 students), Dublin Middle School (520 students), and Hillcrest Elementary School (453 students).