Available $3,445,895 - Retail - Single Tenant
Investment Offering & Highlights
- ABSOLUTE NNN LEASE STRUCTURE
Zero Landlord responsibilities for operating or capital expenses
- RENT INCREASES BETWEEN OPTIONS
Rent increases between each of the seven 5-year renewal options
- CORPORATE BACKED LEASE
Corporate guaranteed lease by QuikTrip Corporation, one of the nation’s largest privately held companies with annual revenues in excess of $11.4 billion
- EXCELLENT INGRESS & EGRESS ALONG MAJOR TRAFFIC CORRIDORS
Excellent ingress and egress along both traffic corridors with combined daily traffic counts in excess of 17,900 vehicles
- AFFLUENT AREA
Affluent area with average household income in excess of $102,000
THE SUBJECT PROPERTY IS A 4,514 SQUARE FOOT QUIKTRIP LOCATED IN ATHENS, GEORGIA. QUIKTRIP HAS LEASED THE PROPERTY FOR A 15 YEAR TERM WHICH COMMENCED IN 2010, LEAVING APPROXIMATELY 5 YEARS REMAINING ON THEIR INITIAL LEASE TERM. THERE ARE STRUCTURED RENT INCREASES BETWEEN EACH OF THE SEVEN 5-YEAR RENEWAL OPTIONS. THE LEASE IS ABSOLUTE NET PROVIDING FOR ZERO LANDLORD RESPONSIBILITIES.
QuikTrip is one of the nation’s leading convenience store operators, with approximately $11.4 billion in annual revenues which are generated from the over 850 locations they operate. These revenues place QuikTrip on the Forbes listing of largest privately held companies.
Located at the signalized intersection of Oconee Connector Road and Mars Hill Road, the subject property is position just south of Highway 316. The property benefits from ingress and egress along both thoroughfares with combined traffic counts in excess of 17,900 vehicles per day. Mars Hill Road recently underwent a $26.4 million widening project completed in 2018 which included a new lane on each side of the major thoroughfare as well as bike lanes a sidewalks.
The subject property is situated adjacent to a 99 room SpringHill Suites and is immediately west The Exchange, a 105,000 square foot medical office park anchored by St. Mary’s Healthcare System. Just north of QuikTrip, along Oconee Connector Road, is Epps Bridge Centre, a 450,000 square foot lifestyle center anchored by Best Buy, Dick’s Sporting Goods, PetSmart, Ross, Marshalls, Old Navy, and Bed, Bath and Beyond. The immediate area is continuing to develop with a proposed 327,000 square foot proposed expansion to Epps Bridge Center. Other retailers in the area include Lowe’s, Home Depot, Walmart, Trader Joe’s, Kroger, Kohl’s and many more.
This affluent area boasts an average household income in excess of $102,000 and is home to over 30,000 residents within a three mile radius and 86,000 residents within a 5 mile radius.
- Price: $3,445,895
- Cap Rate: 6.65%
- Lease Term: Approximately 5 Years Remaining
- Building Size: 4,514 SF
- Lot Size: 1.313 Acres
- Status: Available