Address: 98 US-84, Cairo, Georgia, United States 39828
Cap Rate: 5.75%
Lease Type: Triple Net (NNN)
Annual Rent: $109,998
Net Operating Income: $10,998
Lease Term Remaining: 20 Years
Rental Increases: 10.00% Every Five (5) Years
Options: Four (4), Five (5) Year Options
Rentable Sq/Ft: 3,000 SF
Rent Sq/Ft: $36.67
Price Sq/Ft: $638
Lot Size: +/-0.67 Acres
Marcus & Millichap is pleased to present the exclusive listing for a Hardee’s located at 98 US-84, Cairo, GA. The property consists of 3,000 square feet of building space and is situated on approximately 0.67 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 98 US Highway 84 in Cairo, Georgia. Cairo is a city in the county seat of Grady County, situated in Southwest Georgia.
This Hardee’s is strategically located directly across the street from the Cairo Crossing Shopping Center which contains a Walmart Superstore. US-84 provides for easy transportation access to nearby cities such as Dothan and Valdosta. The subject property also benefits from its close proximity to several academic institutions. Cairo High School, located within a two mile radius has a total enrollment exceeding 1,200 students. Other academic institutions nearby include a campus for the Southern Regional Technical College, Eastside Elementary, Northside Elementary, and Southside Elementary. Grady General Hospital, a 60 bed general medical and surgical facility, is located within two miles from this Hardee’s.
The subject property has approximately 14,182 individuals residing within a five-mile radius and 22,970 individuals within a five-mile radius of the property. This Hardee’s is located on US Highway 84, which experiences an average daily traffic count of 21,420 vehicles. US Highway 84 East connects Cairo with several other larger cities including Dothan and Enterprise in Alabama, as well as Thomasville, Georgia.
The city of Cairo was designated as the seat of Grady County in 1905. Cairo is very close to several historical points of interest, and is also close to great hunting and fishing locations. The area hosts several local festivals that attract many individuals to the Southwest corner of Georgia, such as Cavalry’s Mule Day, Whigham’s Rattlesnake Roundup, and Cairo’s own Antique Car Rally. Cairo is 33 miles away from Tallahassee, the capital of Florida. 15 Miles to the east of Cairo lies Thomasville, the second largest city in Southwest Georgia after Albany. Thomasville is home to around 20,000 residents and features several tourist attractions including plantations that are open to the public, a historic downtown, a large farmer’s market, and a 308-year-old Oak tree. Thomasville also hosts an annual Rose Festival in which rose growers from all over the world display their prize roses for a panel of judges. In 2016, Thomasville was featured as the second best historic small town on USA Today’s 10 Best List Reader’s Choice.
Broker of Record: Michael Fasano – License # 352663