Firestone – Gainesville, GA

$3,846,527
Price
N/A
Noi
Market
Cap Rate
5,697
Leasable Area
2021
Year Built

Fortis Net Lease is pleased to present this 5,697 SF. Firestone Complete Auto Care store located in Gainesville, 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 December of 2021.

This Firestone store is highly visible as it is strategically positioned on the signalized hard corner of Dawsonville Highway and Pearl Nix Highway which sees 36,552 cars per day. It is an outlot of the Lakeshore Mall which is anchored by Belk, Dick’s, and Books-a-million and is across the street from Target, Walmart, and Lowes. This is a dense retail area. The five mile population from the site is 79,835 while the one mile average household income is $63,721 per year, which is ideal for a Firestone. This area is also experiencing great growth with five mile population growth rate at 6.21%. 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 anew 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
• Outlot in Lakeshore Mall Anchored by Dick’s, Belk, and Books-A-Million
• 5 (5 Year) Options | 5% Rental Increase At Each Option
• One Mile Household Income $63,721
• Five Mile Population 79,835 | Expected Growth 6.21%
• Three Mile Population Growth Rate 5.51%
• 36,552 VPD on Dawsonville Highway and Pearl Nix Highway

 

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

CONTACT US REGARDING THIS LISTING

BRYAN BENDER

Partner

Ben Schultz

Senior Director

DOWNLOAD LINKS

OFFERING MEMORANDUM