Address: 4100 S Bogan Rd, Buford, Georgia, United States 30519
Cap Rate: 5.15%
Lease Type: Triple Net (NNN)
Annual Rent: $120,000
Net Operating Income: $120,000
Lease Term Remaining: 20 Years
Options: Six (6), Five (5) Year Option Periods
Rentable Sq/Ft: 2,699 SF
Rent Sq/Ft: $44.46
Price Sq/Ft: $863
Lot Size: +/- 1.00
Marcus & Millichap is pleased to present the exclusive listing for a Wendy’s located at 4100 S Bogan Road in Buford, GA. The property consists of 2,699 square feet of building space and is situated on approximately 1.00 acre of land.
The tenant will enter into a brand new, 20-year triple-net (NNN) lease with absolutely no landlord responsibilities upon the day following the close of escrow. The lease will call for rental increases that will be the lesser of the change in CPI or 1.25% annually starting in Year 3. The rental increases will continue through the base term and into the six, five-year tenant renewal options. The lease will carry a guaranty from Meritage Hospitality Group, an experienced 337+ unit operator and the second largest franchisee in the Wendy’s system.
This Wendy’s property is located at 4100 S Bogan Road in Buford, GA. Buford is a city in Gwinnett and Hall counties in the U.S. state of Georgia located 40 miles outside of Atlanta, GA.
SURROUNDING RETAIL & POINTS OF INTEREST
The subject property is well positioned as an outparcel to the newly developed 68,000+ SF Publix-anchored Holland Point Shopping Center on the hard corner of a four-way intersection. This Wendy’s property is surrounded by new development, local and major retailers, academic institutions, and several warehouses and distribution centers. Major industrial facilities in the immediate area include FedEx Freight, Office Depot Distribution Center, Lund Industrial, Global Industrial, and many more. The subject property benefits from being within a five-mile radius of several academic institutions. Most notable of these being Lanier High School and Buford High School with a combined enrollment of 3,150 students. Located right off I-985 this Wendy’s benefits from people who are traveling to nearby cities including Atlanta, Columbus and Greenville.
TRAFFIC COUNTS & DEMOGRAPHICS
There are approximately 38,941 people residing within a three-mile radius and 106,581 people within a five-mile radius of the subject property. This Wendy’s benefits from being located within an affluent suburban community. The average household income within a one-mile radius exceeds$100,000. This Wendy’s is situated on the hard corner of Bogan Road and Hamilton Road. Hamilton Road boasts average daily traffic counts exceeding 17,113 vehicles. Hamilton Road intersects with I-985 which brings an additional 57,700 vehicles into the immediate area daily.
Atlanta is the capital and most populous city in the U.S. state of Georgia. With an estimated 2018 population of 498,044, it is also the 37th most-populous city in the United States. Atlanta is rated as a “beta(+)” world city that exerts a moderate impact on global commerce, finance, research, technology, education, media, art and entertainment. It ranks in the top twenty among world cities and 10th in the nation with a gross domestic product of $385 billion. The economy in Atlanta is considered diverse, with dominant sectors that include aerospace, transportation, logistics, professional and business services, media operations, medical services, and information technology. Atlanta is home to the nations third-largest concentration of Fortune 500 companies and hosts the global headquarters of corporations like The Coca-Cola Company, The Home Depot, Delta Airlines, AT&T Mobility, Chick-fil-A, and UPS. Atlanta is home to professional franchises for four major team sports: the Atlanta Braves of Major League Baseball, the Atlanta Hawks of the National Basketball Association, the Atlanta Falcons of the National Football League, and the Atlanta United FC of Major League Soccer. The mild weather year-round allows residents to hike, paddle and bike. The Atlanta metro area has several acclaimed cultural institutions, including Zoo Atlanta and the High Museum of Art. More than 30 institutions of high education call Atlanta Home, including Emory University, Georgia Institute of Technology and Spelman College.
GA BROKER OF RECORD: John Leonard Lic # 252904