Shane's Rib Shack Net-Lease | Ellijay, GA
Ellijay, GA Gilmer County
Asking Price:
$2,250,000
Annual Revenue:
Not Disclosed
Request More Information Contact the Seller
- RE: Shane's Rib Shack Net-Lease | Ellijay, GA
- Contact: Kavita Purohit
Quick Facts
| Asking Price: | $2,250,000 | |
| Annual Revenue: | Not Disclosed | |
| Net Profit: | Not Disclosed | |
| Cash Flow: | Not Disclosed | |
| Total Debt: | Not Disclosed | |
| FF&E: | Not Disclosed | |
| Real Estate: | Not Disclosed | |
| Year Established: | Not Disclosed | |
| Employees: | Not Disclosed | |
| BBN Listing #: | 1015275 | |
| Broker Reference #: | Not Disclosed |
Business Overview:
Offering Summary
- Asking Price: $2,250,000
- Scheduled Cap Rate: 6%
- Current Annualized Base Rent: $133,712
- Tenant DBA: Shane's Rib Shack
- Lease Expiration: January 2033
- Renewal Options: Two additional five-year options
- Rent Increases: 2% annually in base term and option periods
- Building Size: 4,284 square feet
- Site Area: +/- 1.29 acres
- Year Built: 2005
- Long-term restaurant lease extending through January 2033, with two additional five-year renewal options.
- Contractual 2% annual increases lift annualized base rent to approximately $150,582 by the final scheduled step.
- Tenant is responsible for real estate taxes, property insurance, utilities and most repair and maintenance expenses.
- Percentage rent of 5% above a $1.8 million annual gross-sales breakpoint provides potential upside and is not included in the advertised cap rate.
- Established restaurant location operating at this site since 2008.
- Freestanding building with visibility from Highway 515, a primary commercial and travel corridor serving North Georgia.
- Nearby retail anchors and restaurants include Walmart Supercenter, Lowe's, Chick-fil-A, Wendy's and Zaxby's within the Highland Crossing commercial node.
The property is positioned within Ellijay's primary retail corridor and benefits from surrounding shopping, dining, lodging and residential development. The market also draws visitors seeking North Georgia's outdoor recreation, cabins, orchards, wineries and mountain attractions.
- Median household income of approximately $67,344 within three miles and $61,622 within five miles.
- Approximately 2,016 households within three miles and 7,368 households within five miles.
- Projected population growth of approximately 3.2% within three miles.
Asking Price: $2,250,000.
Contact the Seller:
To request more information regarding this listing, simply check the ADD TO REQUEST INFO BASKET button (above Quick Facts) and when you are done searching and have made all your selections, simply click on the REQUEST FREE INFO button at the bottom of this page.
Reason for Selling:
Kindly ask the seller for more information.Additional Details:
- The property is Leased.
- This is not homebased business opportunity.
- This is a franchise resale opportunity
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