Firestone – Flowery Branch, GA

$4,023,130
Price
N/A
Noi
Market
Cap Rate
5,697
Leasable Area
2021
Year Built

CONTACT US REGARDING THIS LISTING

Ben Schultz

Senior Director

ANDREW BENDER

Investment Advisor

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OFFERING MEMORANDUM

Fortis Net Lease is pleased to present this 5,697 SF. Firestone Complete Auto Care store located in Flowery Branch, Georgia. This property will offer a brand new 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 five (5) year option to renew. The store is currently under construction with rent on-track to commence in August of 2021.

This Firestone store is highly visible as it is strategically positioned on Winder Highway which sees 34,886 cars per day. It is adjacent to O’Reilly Auto Parts and a Publix Anchored Shopping Center near the I-985 exit, which sees 54,946 cars per day, and only 1.4 miles from The University of North Georgia. The five mile population from the site is 70,414 while the one mile average household income is $74,220 per year, which is ideal for a Firestone. This area is also experiencing great growth with the three mile population growth rate at 7.88%. 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.

INVESTMENT HIGHLIGHTS
• Absolute NNN 15 Year Lease | Zero Landlord Responsibilities
• 5% Rental Rate Increase Every 5 Years
• Brand New Upgraded Design Construction | Essential Business
• Adjacent to a Publix Anchored Shopping Center
• 5 (5 Year) Options | 5% Rental Increase At Each Option
• One Mile Household Income $74,220
• Five Mile Population 70,414 | Expected Growth 7.51%
• Three Mile Population Growth Rat 7.88%
• 34,886 VPD on Winder Highway | 54,946 VPD on I-985
• Only 1.4 Miles From University of North Georgia

 

Instate Broker of Record: Brian Brockman | Bang Realty, Inc.