Address: 1901 Sandy Plains Road , Marietta, Georgia, United States 30066
Cap Rate: 6.25%
Lease Type: Triple Net (NNN)
Annual Rent: $157,300
Net Operating Income: $157,300
Lease Term Remaining: 7 Years
Rental Increases: 10% Every Five Years
Options: Four (4), Five (5)-Year Options
Year Built: 2005
Rentable Sq/Ft: 4,000 SF
Rent Sq/Ft: $39.33
Price Sq/Ft: $629
Lot Size: +/-1.35 Acres
Marcus & Millichap is pleased to exclusively market for sale the subject single-tenant BB&T dark ground lease located at 1901 Sandy Plains Road in Marietta, Georgia. The property made up of a 4,000 square feet building and is situated on approximately 1.35 acres of land. The investment opportunity is subject to an absolute triple-net (NNN) lease which has approximately 7 years of term remaining. The current rent is $157,300 and is subject to 10% rental increases. The lease is guaranteed by Branch Banking and Trust Company.
BB&T is one of the largest financial services holding companies in the U.S. with $225.7 billion in assets and market capitalization of approximately $33.1 billion as of December 31, 2018. Building on a long tradition of excellence in community banking, BB&T offers a wide range of financial services including retail and commercial banking, investments, insurance, wealth management, asset management, mortgage, corporate banking, capital markets and specialized lending. Based in Winston-Salem, N.C., BB&T operates more than 1,800 financial centers in 15 states and Washington, D.C. and is consistently recognized for outstanding client service by Greenwich Associates for small business and middle market banking
This BB&T dark asset is located at 1901 Sandy Plains Road in Marietta, Georgia. Marietta is the county’s seat and a large cultural hub. The city is northwest of Atlanta, Georgia, the state’s capital and most populous city.
The subject property is well-positioned on Sandy Plains Road and is surrounded by many major national and local tenants. Tenants in the area include: Publix, SunTrust Bank, Goodwill, Sally Beauty Supply, Papa John’s Pizza, Wendy’s, Chevron, QuikTrip, Speed Shine Express Car Wash, Laredo’s Mexican Bar & Grill, as well as many others. The subject property is in close proximity many significant points of interest in the area including but not exclusive to Kennesaw State University, Chattahoochee Technical College, and Life University, which have a combined enrollment exceeding 48,724 students. Six Flags White Water, a 69-acre water park, a part of the Six Flags Amusement Park Company, is located within four miles of this bank location. The Dobbins Air Reserve Base, a United States Air Force reserve Base is located seven miles away from the subject property.
The BB&T property benefits from strong demographics with 69,034 individuals residing within a three-mile radius and 180,934 individuals residing within a five-mile radius. The property is located on Sandy Plains Road which has traffic counts of 27,450 vehicles per day. Additionally, within a one-mile radius, the average household income exceeds $100,000.
Marietta is located in central Cobb County, Georgia, approximately 25 miles outside of Atlanta, Georgia. The town’s main economic background is built up from the Dobbins Air Reserve Base on the south side of town and a Lockheed Martin manufacturing plant. The Cobb Community Transit, Marietta/Cobb County’s Transit System and Xpress GA Buses serve the city. All of the public schools in Marietta are operated by the Marietta City School, while the remainder of the schools in Cobb County, but outside the city limits, are operated by the Cobb County School District, including all of the county’s other cities. Marietta has six historic districts, some on the National Register of Historic Places these include: Northwest Marietta, Whitlock Avenue, Washington Avenue, and Church-Cherokee Street. Downtown is the town square and former location for the county courthouse. The square is the center of several cultural productions and public events, including a weekly farmers market. The Marietta Museum of History exhibits the history of the city and county and is home to thousands of artifacts including items from Marietta residents and businesses.
Broker of Record: Michael Fasano – License # 352663