Firestone – Braselton, GA

$4,456,521
Price
$204,999.96
Noi
4.60%
Cap Rate
6,116
Leasable Area
2021
Year Built

CONTACT US REGARDING THIS LISTING

Ben Schultz

Senior Director

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OFFERING MEMORANDUM

Fortis Net Lease is pleased to present this brand new construction 6,116 SF. Firestone Complete Auto Care store located in Braselton, Georgia. This property offers a Fifteen (15) Year Absolute NNN Lease, leaving zero landlord  responsibilities. The lease contains 5% rental rate increases every 5 years during the primary term and including each of the five (5 year) option to renew. The store is currently under construction, with rent estimated to commence in May of 2021.

This Firestone store is highly visible as it is strategically positioned on Hancock Drive just off of Friendship Road (which sees 22,270 cars per day) near the Spout Springs Road (which sees 11,200 cars per day) intersection. Immediately adjacent to the site is a Taco Bell, Fresenius Kidney Center, and a Kroger Anchored shopping center. Across the street is a Publix anchored shopping center and many other national retailers making it a prime location. The five mile population from the site is 85,408 and the one mile average household income is $122,366 per year, which is ideal for a Firestone. The area is experiencing great growth with the three mile population growth rate at 8.24%. The Subject offering represents an ideal opportunity for a 1031 exchange buyer or a “passive” investor to attain the fee simple ownership of a Firestone. This investment will offer a new owner continued success due to the financial strength and the proven profitability of the tenant. List price reflects a cap rate of 4.60% based on NOI of $204,999.96.

INVESTMENT HIGHLIGHTS
– Absolute NNN 15 Year Lease | Zero Landlord Responsibilities
– 5% Rental Rate Increase Every 5 Years
– Brand New Upgraded Design Construction | Essential Business
– 5 (5 Year) Options | 5% Rental Increase At Each Option
– One Mile Household Income $122,366
– Five Mile Population 85,408 with Expected 8.15% Growth
– Three Mile Population Growth Rate 8.24%
– 22,270 Cars Per Day on Friendship Road
– 11,200 Cars Per Day on Spout Springs Road
– Adjacent to Kroger Anchored Center, Taco Bell & Many National Retailers
– Across the street from Publix Anchored Shopping Center

 

Instate Broker of Record: Michael Houghton | Oak Realty Advisors