Old Milton Parkway
| Price | $2,269,000 |
| Cap Rate | 6.35% |
| NOI | $144,060 |
| Lease Term | Various |
| Lease Type | Various |
| Rental Increases | Various |
| Year Built | 2020 |
| Building Size | 3,415 SF |
| Lot Size | ±0.966 Acres (±42,079 SF) |
| Status | Available |
| Lead Broker Information | Michael T. Yuras, CCIM Cushman & Wakefield 415.481.0788 michael.yuras@cushwake.com CA RE License #01823291 Scott Crowle Managing Director 415.604.4288 scott.crowle@cushwake.com CA RE License #01318288 Vincent Aicale Cushman & Wakefield 415.690.5522 vince.aicale@cushwake.com CA RE License #01728696 Ryan Forsyth Cushman & Wakefield 415.413.3005 ryan.forsyth@cushwake.com CA RE License #01716551 |
Investment Highlights
LONG-TERM NET LEASES TO STRONG TENANTS
» 100% leased retail center with brand new, high-quality construction, limiting near term deferred maintenance or capital costs
» Scheduled rental increases in primary terms and option periods, providing a hedge against inflation
» Excellent mix of nationally recognized retailers, offering investment diversification to Amazon-proof tenants
MAJOR NATIONAL TENANTS WITH STRONG PROJECTED GROWTH AND FINANCIALS
» PJ’s Coffee plans to open 200+ locations within next 10 years
» Smoothie King is Entrepreneur Magazine’s #1 Juice Bar Franchise for 26 years ($415.7 million in revenue)
» Your CBD Store has opened 450+ locations in less than two years
HIGH-TRAFIFIC LOCATION IN DENSELY POPULATED AND AFFLUENT AREA
» 53,020 AADT directly in front of the property and 208,052 residents within five miles of the location
» $137,173 average household income within a five-mile radius of the property
» Within four miles of 11 apartment complexes (combined 3,259 units), increasing traffic to the site
» Located along state route 120, a major east-west thoroughfare connecting five Georgia counties
CENTRAL LOCATION NEAR LARGE SCHOOLS, EMPLOYERS, AND RETAILERS
» Within five miles of seven major shopping centers (combined four million SF of retail space, 381 stores)
» Immediate access to Northside/Alpharetta Medical Campus (126 beds) and four miles from WellStar North Fulton Hospital (202 beds, 800 employees)
» Within a five-mile radius of 17 schools with a combined enrollment of 18,709 students, including Georgia State University (21,000 students, 488 employees)
» Beneficial proximity to Alpharetta’s largest employers, Including ADP, Inc. (2,260 employees), Fiserv (1,700 employees), Lexis Nexis Risk Solutions (1,600 employees), and UPS Supply Chain Services (1,200 employees)
» Surrounded by a strong mix of national retailers, including McDonald’s, Dunkin’, Moe’s Southwest Grill, Starbucks, Chick-fil-A, Regal Avalon (12 screens), and many more
Property Description
The property is conveniently located on Old Milton Parkway, with excellent visibility and access to 53,020 vehicles per day directly in front of the site. The property is located along State Route 120, a major east-west thoroughfare connecting five Georgia counties. The location resides in a densely populated area with affluent demographics, with an average household income of $137,173 and population of 208,052 within a five-mile radius of the location. Traffic to the site is increased by the 11 apartment complexes with a combined 3,259 units within four miles of the property.
The site is surrounded by a strong mix of national and local retailers, including McDonald’s, Dunkin’, Moe’s Southwest Grill, Starbucks, Chick-fil-A, Regal Avalon (12 screens), and many more. Visibility is increased by the site’s proximity near large schools and employers. The location has a beneficial proximity to Alpharetta’s largest employers, Including ADP, Inc. (2,260 employees), Fiserv (1,700 employees), Lexis Nexis Risk Solutions (1,600 employees), and UPS Supply Chain Services (1,200 employees). The property also benefits from being within a five-mile radius of 17 schools with a combined enrollment of 18,709 students, including Georgia State University (21,000 students, 488 employees), which is minutes from the site. The site’s location has immediate access to Northside/Alpharetta Medical Campus (126 beds) and is four miles from WellStar North Fulton Hospital (202 beds, 800 employees).
