ELLIJAY, Georgia
| Asking Price |
$2,250,000 |
Year Established |
|
|
| Annual Revenue |
$0 |
Reason for Selling |
|
|
| Annual P/L |
$0 |
Attention |
Kavita Purohit |
|
| Annual Cash Flow |
$0 |
Listing Number |
1015275 |
|
| # of Employees |
|
Business Category |
Food & Beverage: Restaurants, Fast Food, Deli |
|
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
Investment Highlights
- 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.
Location and Market Highlights
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.
Property Features and Assets:
Market Competition and Expansion:
Additional Details:
- The property is Leased.
- This is not homebased business opportunity.
- This is a franchise resale opportunity