Address: 870 GA-138 W, Stockbridge, Georgia, United States 30281
Cap Rate: 5.50%
Lease Type: Triple Net (NNN)
Annual Rent: $135,000
Net Operating Income: $135,000
Lease Term Remaining: 20 Years
Rental Increases: Lessor of Change in CPI or 1.25% Annually Starting Year 3
Options: Six (6), Five (5) Year Option Periods
Rentable Sq/Ft: 2,646 SF
Rent Sq/Ft: $51.02
Price Sq/Ft: $928
Lot Size: 1.84 Acres
Marcus & Millichap is pleased to present the exclusive listing for a Wendy’s located at 870 GA-138 W, Stockbridge, GA. The property consists of 2,646 square feet of building space and is situated on approximately 1.84 acres 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 ~310 unit operator and the second largest franchisee in the Wendy’s system.
This Wendy’s property is located at 870 GA-138 W in Stockbridge, Georgia. Stockbridge is a city in Henry County and is part of the Atlanta metropolitan area.
The subject property benefits from excellent frontage along GA-138 W and is surrounded by many major national and local tenants. National brands in the area include: Walmart, Lowe’s, Kroger, Aldi, CVS Pharmacy, Office Depot, Kohl’s, Big Lots, Dollar Tree, McDonald’s, Burger King, as well as many others. There is also convenient access to major highways such as Interstate 75 and Interstate 675. The property is also surrounded by many national hotels including Hampton Inn, Holiday Inn, Red Roof Inn, Fairfield Inn & Suites, Travelodge Inn & Suites, Sleep Inn & Suites, as well as Econo Lodge. Additionally, the property is located just over 15 miles outside of downtown Atlanta and is just of 10 miles away from Hartsfield-Jackson Atlanta International Airport, known for being the busiest airport in the world.
This area has very strong demographics, with approximately 59,749 people residing within a three-mile radius and 127,648 people within a five-mile radius of this property. This Wendy’s is located on GA-138 W, which averages more than 35,000 vehicles per day. GA-138 directly intersects with both I-75 and I-675, which boast significant traffic counts of 115,000 and 64,499 vehicles per day, respectively.
The Atlanta metro area encompasses 29 counties in north western Georgia. With few natural barriers to limit development, tremendous population growth over the past decade has expanded the metro’s borders and the region now has a population of roughly 5.7 million people. Over the next five years, the region is expected to add nearly 500,000 residents. Meanwhile, new redevelopment projects in the downtown and midtown sections of Atlanta present a vast array of housing, entertainment and retail opportunities that are attracting residents back to the city and providing options for people moving to the metro. Encompassing $304 billion, the Atlanta metropolitan area is the eighth largest economy in this country and 17th-largest in the world. Over 75 percent of Fortune 1000 companies conduct business in Atlanta. Many corporations are drawn to Atlanta on account of the city’s educated workforce. As of 2010, 43 percent of adults in the city have college degrees, compared to 27 percent in the nation as a whole. Atlanta is home to the headquarters of many different corporations such as The Coca-Cola Company, The Home Depot, Delta Air Lines, AT&T Mobility, Chick-fil-A, UPS, and Newell Rubbermaid among others. Atlanta has a dynamic, distinctly Southern culture, due primarily to a large population of migrants from other parts of the U.S., in addition to many recent immigrants to the U.S. who have made the metropolitan area their home. This has established Atlanta as the cultural and economic hub of an increasingly multi-cultural metropolitan area.
Broker of Record: Michael Fasano – License # 352663