Address: 2457 US-19, Pelham, Georgia, United States 31779
Cap Rate: 5.75%
Lease Type: Triple Net (NNN)
Annual Rent: $74,241
Net Operating Income: $74,241
Lease Term Remaining: 20 Years
Rental Increases: 7.50% Every Five (5) Years
Options: Four (4), Five (5) Year Option Periods
Rentable Sq/Ft: 1,930 SF
Rent Sq/Ft: $38.47
Price Sq/Ft: $669
Lot Size: 1.01
Marcus & Millichap is pleased to present the exclusive listing for a Huddle House located at 2457 US-19, Pelham, GA. The property consists of 1,930 square feet of building space and is situated on approximately 1.01 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 7.50% 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 corporate guaranty from Huddle House, Inc.
SURROUNDING RETAIL & POINTS OF INTEREST
The subject property is well-positioned on U.S. Highway-19 and is surrounded by many major national and local tenants. National brands in the area include: Dollar General, Rite Aid Pharmacy, Piggly Wiggly, AutoZone Auto Parts, NAPA Auto Parts, and Hardee’s, among various others. Furthermore, this investment property benefits from a strong academic presence. Pelham High School, Pelham Elementary School, The North School, and Pelham Middle School are all within a three-mile radius of the subject investment property. The Pelham School District has over 1,600 students.
TRAFFIC COUNTS & DEMOGRAPHICS
This investment property benefits from the local demographics, with more than 8,100 people residing within a five-mile radius and more than 19,700 people within a ten-mile radius of this property. This Huddle House is located on U.S. Highway-19, which has an average daily traffic count of 12,500 vehicles. U.S. Highway-19 intersects with Curry Street, which leads directly into the center of Pelham.
The City of Pelham, a Better Hometown Community, is located on the crossroads of US Highway-19 and Georgia Highway-93. Business in Pelham greatly benefits from Pelham’s Chamber of Commerce. The intentions at the Pelham Chamber are to help foster a community of businesses that support one another and help each business succeed. Furthermore, Pelham is actively growing its’ Downtown Development Authority. Pelham’s Wildlife Festival, held on the first Saturday in October, attracts over 12,000 visitors annually. Other events such as a “Slice of Summer” and the Pelham Wildlife Art Auction complete the warm community feel present in Pelham. Pelham is centrally located between Thomasville and Albany. Pelham, named for Major Pelham of Civil War renown, has a grand history as a commercial epicenter of the Southwest Georgia agricultural community. Pelham is located 36-miles South of Albany, GA. There is not another city that can offer big city amenities while providing the comforts of a small town like the City of Albany. Albany is beautifully positioned on the banks of the Flint River. Albany has developed a diversified industrial economy, which includes Proctor & Gamble, MillerCoors, and Mars Chocolate North America. In fact since 1994, over $800 million has been invested into the community by local industries. The healthcare and education systems along with the Marine Corps Logistics Base Albany are the largest employers. Marine Corps Logistics Base Albany is committed to providing its service members, civilian-Marines and families a safe and secure environment to work and live, thereby increasing quality of life for all.
Broker of Record: John Leonard License #252904