Address: 258 Walnut Avenue S, Leesburg, Georgia, United States 31763
Cap Rate: 5.75%
Lease Type: Triple Net (NNN)
Annual Rent: $96,739
Net Operating Income: $96,739
Lease Term Remaining: 20 Years
Rental Increases: 10.00% Every Five (5) Years
Options: Four (4), Five (5) Year Options
Rentable Sq/Ft: 3,547 SF
Rent Sq/Ft: $27.27
Price Sq/Ft: $474
Lot Size: +/-3.08 Acres
Marcus & Millichap is pleased to present the exclusive listing for a Hardee’s located at 258 Walnut Ave S, Leesburg, GA. The property consists of 3,547 square feet of building space and is situated on approximately 3.08 acres of land. The tenant will enter into a brand new, 20-year triple-net (NNN) lease with absolutely no landlord responsibilities upon the close of escrow. The lease will call for 10.00% rental increases every five years that will continue through the base term and into the four, five-year tenant renewal options. The lease will carry a franchisee guaranty from Phase Three Star, an 85 unit operator.
This Hardee’s property is located at 258 Walnut Street South in Leesburg, Georgia. Leesburg is located in Lee County in southwest Georgia, approximately 11 miles north of Albany, 177 miles south of Atlanta and 98 miles north of Tallahassee.
The subject property is surrounded by many major national tenants that include: McDonald’s, Chevron, Shell, Family Dollar, Dollar General, NAPA Auto Parts, USPS and YMCA. Located within a 15 mile radius are many hotels that include: Econo Lodge Inn & Suites, Courtyard by Marriott Albany, Fairfield Inn & Suites by Marriott Albany and Holiday Inn Express & Suites Albany. This Hardee’s benefits from being within a three mile radius of three local school’s, which include Lee County Primary School, Lee County Middle School, and Lee County High School. The three schools have combined enrollment of more than 5,350 students. The most notable academic institution is Albany State University, which is within 15 miles and enrolls more than 6,600 students. Phoebe Putney Memorial Hospital is a 691-bed teaching hospital and a regional center for cancer treatment, cardiac medicine/surgery and neuro-science located less than 15 miles south in Albany.
There are approximately 8,698 people within a five-mile radius and 68,390 individuals residing within a ten-mile radius of the property. This Hardee’s is located on Walnut Avenue South, which experiences average daily traffic counts of more than 14,470 vehicles. Walnut Avenue South becomes Route US-19 which connects Leesburg and Albany and brings in extra 23,600 vehicles daily.
Leesburg is a city in and the county seat of Lee County, Georgia and is part of the Albany, Georgia Metropolitan Statistical Area. Located about 15 minutes south are a few tourist attractions including the Flint RiverQuarium and Chehaw Park, which are the only Zoo and Aquarium within a 75 mile radius. Leesburg is about a two hour 45 minute drive from Atlanta, one of the largest cities in America.
Broker of Record: Michael Fasano – License # 352663