Address: 5498 New Jesup Hwy, Brunswick, Georgia, United States 31523
Type: Auto Parts Retailer
Cap Rate: 5.95%
Lease Type: Triple Net (NNN)
Annual Rent: $94,619
Net Operating Income: $94,619
Lease Term Remaining: 13.5 Years
Rental Increases: 10% In Each Option
Options: Four (4), Five (5)-Year
Rentable Sq/Ft: 6,718 SF
Rent Sq/Ft: $14.08
Price Sq/Ft: $237
Lot Size: +/- 1.42 Acres
Marcus & Millichap is please to present the exclusive listing for the Advance Auto Parts located at 5498 New Jesup Hwy, Brunswick, GA. The property consists of a 6,718 square-foot building sitting atop a 1.42-acre lot. There are currently 13.5 years remaining on the base term of the absolute triple net (NNN) lease, which is guaranteed by Advance Stores Company, Inc., a wholly owned subsidiary of Advance Auto Parts, Inc. Currently, the annual rent for the property is $94,619, which is scheduled to increase by 10% on 8/31/2028. The tenant has four (4), five (5)-year options to extend lease, each of which comes with a 10% rental increase.
The subject investment property is situated along New Jesup Highway, which serves as an access road and intersects with Interstate-95. New Jesup Highway boasts average daily traffic counts of approximately 19,500 vehicles with Interstate-95 bringing an additional 35,000 vehicles into the immediate area on average daily. There are nearly 39,000 individuals residing within a five-mile radius of the property and more than 73,250 individuals within a ten-mile radius.
The subject property benefits from being well-positioned in a dense retail corridor consisting of national and local tenants, shopping centers and hospitality accommodations all within close proximity of this property. Major national tenants include: Winn Dixie, McDonald’s, Starbucks, CVS Pharmacy, Pizza Hut, Wendy’s, Huddle House and many more as well as more retail and restaurant concepts. Glynn Place Mall is also located only about three miles from the subject property. The mall comprised of 90+ indoor stores, most notably a Walmart Supercenter, and as a result is well known throughout the region. Additionally, over several hospitality accommodations are within immediate proximity to the subject investment property. These include: Extended Suites, La Quinta Inn, Ramada, Rodeway Inn, Stay Express, Red Roof Inn and more. Brunswick-Golden Isles Airport, which is within a five-mile radius of the property, provides over 980 jobs to the immediate area as well as a total economic output of $120 million dollars per year. This property also benefits from being situated on the New Jesup Highway as it intersects with Interstate-95. Interstate-95 directly links Brunswick to larger cities north and south, such as Jacksonville, Florida to the south and Charleston, South Carolina to the north.
Brunswick is a city in the county seat of Glynn County, Georgia. It is the main economic center of the state’s lower southeast and the second-largest urban area on the Georgia coast. Brunswick supports a progressive economy largely based on tourism and logistics, with a metropolitan GDP of $3.9 Billion. The port of Brunswick also handles approximately ten percent of all U.S roll on/off trade. The port is America’s primary export facility for Ford, General Motors and Mercedes-Benz as well as being a major exporter of agricultural products and bulk cargo. The city is also the center of Georgia’s shrimping industry, it was once called ‘The Shrimp Capital of the World’ and holding famous annual shrimp festivals. The city has plentiful outdoor space and recreational activities, most notably its golf courses. The PGA Tour holds the RSM Classic every year at the seaside course on Sea Island, which is a world-renowned private resort and golf community. The city is also home to two out of the three accessible beaches in the state, attracting tourists from all over.
BROKER OF RECORD: Tim Giambrone Lic.# 265556