TitleMax – Stone Mountain, GA

$700,723
Price
$47,298
Noi
6.75%
Cap Rate
4,585
Leasable Area
1975
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 4,585 SF TitleMax store located in Stone Mountain, Georgia. The property is encumbered with a Ten (10) Year Absolute NNN Lease, leaving zero landlord responsibilities. The lease provides for 2% annual rental rate increases, including any option period. This store is located down the road from Georgia’s most popular tourist attraction, Stone Mountain Park, which brings in over 4 Million visitors annually. The store is currently open with rent having commenced on 7/1/2014.

This TitleMax is highly visible and is strategically positioned on the corner of Goldsmith Road and Memorial Drive seeing 29,702 cars per day. The five mile population from the site is 214,569 while the three mile average household income is $61,047 per year, making this location ideal for a TitleMax. This area is experiencing great growth with the one mile population growth rate at 5.33%. The Subject offering represents an ideal opportunity for a 1031 exchange buyer or a “passive” investor. 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 6.75% cap rate based on NOI of $47,298.82.

INVESTMENT HIGHLIGHTS
• Absolute NNN Lease | 5 Years Remaining
• Zero Landlord Responsibilities
• Atlanta MSA | 17 Miles From Downtown ATL
• 2% Annual Rental Rate Increases
• 29,702 Cars Per Day on Memorial Road
• Three Mile Household Income $61,047
• Five Mile Population 214,569 | Expected 5.41% Growth
• One Mile Population Growth Rate 5.33%
• 4 Miles From Stone Mountain Park – Most Popular Attraction in GA Seeing 4M+ Annual Visitors
• Corporate Guarantee

 

Instate Broker of Record: Marc Blumberg | Palmetto Partners, Inc. | License # H-14936