1456 Newnan Crossing Blvd E
3,100 SF Retail Building Newnan, GA 30265 $2,985,000 ($963/SF) 5.70% Cap Rate
INVESTMENT HIGHLIGHTS
- Located Within the Atlanta MSA in An Affluent and Rapidly Expanding Area
- 10% Rental Increases Every Five Years | Affluent Surrounding Area with Average Annual Incomes of Nearly $100,000
- Freddy’s Frozen Custard & Steakburgers Has Approximately 450 Locations
- Long Term 20-Year Lease | Absolute Triple Net Lease with No Landlord Responsibilities
- Projected Annual Population Growth of Approximately 2.7% Within One Mile Over the Next Five Years
- Surrounded By Neighborhood Retailers Which Include Publix, CVS Pharmacy, Wal-Mart Supercenter, Lowe's, Home Depot And Many More
EXECUTIVE SUMMARY
Graystone Capital Advisors is pleased to exclusively offer for sale a single tenant net leased Freddy’s Frozen Custard & Steakburgers property located in the Atlanta MSA, situated within the $150 million multi-use development known as Newnan Village Crossing on a 125-acre tract in Newnan located along I-85.
This Freddy’s sale-leaseback features a 20-year absolute triple net lease that includes 10% rental increases every five years. The lease is guaranteed by JRI Hospitality, the largest franchise operator of Freddy’s with +/- 80 existing locations across 15 states and plans for additional growth.
The property is strategically positioned on the hard corner adjacent to Summerlin Corners, a Kroger Anchored Center Located in a fast growing residential area surrounded by neighborhood retailers Area retailers include Publix, CVS Pharmacy, Wal-Mart Supercenter, Lowe’s & Home Depot.
This Freddy’s sale-leaseback features a 20-year absolute triple net lease that includes 10% rental increases every five years. The lease is guaranteed by JRI Hospitality, the largest franchise operator of Freddy’s with +/- 80 existing locations across 15 states and plans for additional growth.
The property is strategically positioned on the hard corner adjacent to Summerlin Corners, a Kroger Anchored Center Located in a fast growing residential area surrounded by neighborhood retailers Area retailers include Publix, CVS Pharmacy, Wal-Mart Supercenter, Lowe’s & Home Depot.
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Fast Food
Building Size
3,100 SF
Building Class
B
Year Built
2021
Price
$2,985,000
Price Per SF
$963
Cap Rate
5.70%
NOI
$170,145
Tenancy
Single
Building Height
1 Story
Building FAR
0.06
Lot Size
1.29 AC
Zoning
RESIDENTIA
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 086-5021-010 | Improvements Assessment | $297,946 |
| Land Assessment | $232,635 | Total Assessment | $530,580 |
