Investment Offering – $3,551,000
1605 Highway 124 | Snellville, GA 30078
|NOI: $177,553||Cap Rate: 5.00%|
|Lease Term: 25||Remaining Term: 18.5|
|Lease Type: NNN||Building Sq. Ft.: 6,922|
|Renewal Options: Three (3), Five (5) Year Options|
- Absolute Triple Net Lease Structure provides for a passive, management free income stream
Long-Term Lease with over 18 years remaining on original 25-year base lease term
Cumulative capped CPI based Rent Increases every 5 years (max 12%) provide for a growing income stream and a hedge against inflation
Strong Credit Tenant, Lease Guarantor, TBC Corporation ($3.2 Billion in sales), is one of the nation’s largest vertically integrated marketers of tires which dominates both retail and wholesale sectors of the market. TBC Corporation, which consists of company-operated retail stores under various brands; NTB, Tire Kingdom, Merchant’s Tire and Auto Centers and Big O Tire stores. Together, the company operates more than 1,200 locations in 42 states. This lease also carries a separate guarantee with parent company Sumitomo Corporation of America rated ‘A-’ by Standard & Poor’s.
The tenant’s industry has a strong positive long-term growth forecast.
Excellent location with approximately 177,000 people within 5 miles with average household income levels of $83,629. Expected growth is 10% plus over next 5 years in this area.
Situated on a signalized corner outparcel to Lowe’s Home Improvement store, diagonal to the Super Walmart center and along Scenic Highway with a combined traffic count of over 40,000 VPD
The property has excellent visibility and access.