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Five Guys & KARV, Chamblee, GA

Five Guys & KARV

Chamblee, Georgia

Price $3,878,000
Cap Rate 5.65%
NOI $219,063
Lease Term 10 Years
Lease Type Net Leases
Rental Increases 10% Rental Increases Every Five (5) Years
Year Built 2020
Building Size 5,500 SF
Lot Size 3.437 Acres (149,706 SF)
Status Available
Lead Broker Information Michael T. Yuras, CCIM
Vice Chairman
415.481.0788
michael.yuras@cushwake.com
CA RE License #01823291

Scott Crowle
Executive Managing Director
415.604.4288
scott.crowle@cushwake.com
CA RE License #01318288

Vincent Aicale
Executive Managing Director
415.690.5522
vince.aicale@cushwake.com
CA RE License #01728696

Ryan Forsyth
Executive Managing Director
415.413.3005
ryan.forsyth@cushwake.com
CA RE License #01716551

Investment Highlights

100% LEASED MULTI-TENANT ASSET WITH RENTAL INCREASES
» 100% leased multi-tenant “Amazon-proof” asset
» 10-year initial lease for both tenants, with 10% and 12% rental increases, providing a hedge against inflation
» Five Guys has 1,700 + locations open worldwide, with 1,500 locations under development
» KARV Kitchen was voted Best New Restaurant by Atlanta Magazine
» Patio seating for added customer convenience

PROMINENT HARD CORNER LOCATION IN RETAIL CORRIDOR
» Ground floor location of a brand-new luxury apartment building, The Keswick (199 units), providing a stable customer base
» Prominent location at the signalized hard corner intersection of State Route 141 / Peachtree Boulevard (39,226 AADT) and Clairmont Road (24,000 AADT), with excellent visibility and access
» Across from a Walmart Supercenter, the third-largest employer in the area, generating significant cross-traffic to the site
» Walking distance to a newly constructed Whole Foods (anchors shopping center)
» One-half mile from Chamblee MARTA Station (1,713 daily parking spaces) and 2.5 miles from Brookhaven-Oglethorpe MARTA Station (1,252 daily parking spaces)
» Four miles from Phipps Plaza (102 stores) and Lenox Square, the third-largest mall in Georgia (198 tenants, 1.5+ million SF of gross retail area)

DENSLEY POPULATED COMMUNITY IN ATLANTA MSA MARKET
» Population of 308,364 within a five-mile radius (15 percent increase since 2010)
» Average annual household income of $131,927 within five miles and projected to increase 12 percent by 2026
» One mile from Dekalb-Peachtree Airport and 22 miles from Hartsfield-Jackson Atlanta International Airport, the busiest airport by passenger traffic in the United States, 104 million annual passengers
» Gateway to Buckhead/City of Atlanta (498,715 residents), the most populous city in Georgia

CENTRAL LOCATION NEAR LARGE SCHOOLS AND AREA ATTRACTIONS
» Chamblee High School (1,800+ students), is located less than one mile from the site
» Beneficial proximity to Oglethorpe University (1,452 students) and Mercer University Atlanta Campus (2,300 students)
» Near several hospitals including, Northside Hospital Atlanta (621 beds), Emory Saint Joseph Hospital (348 beds), and Children’s Hospital of Atlanta (273 beds)
» Metro Atlanta is the fourth-fastest growing region in the United States with six million residents (U.S. Census Bureau projects that will increase to eight million people by 2040)
» Atlanta is a top-10 educational market in the United States with over 50 colleges and universities with nearly 300,000 enrolled students annually
» The Atlanta metropolitan area features a global hub airport, a low cost of business and living, a strong base of Fortune 1000 headquarters, amenities like professional sports teams, and renowned museums and cultural institutions



Property Description

The property is located on the ground floor of a brand-new luxury apartment building, The Keswick (199 units), providing a stable customer base. The site is prominently located at the signalized hard-corner intersection of State Route 141/Peachtree Boulevard (39,226 AADT) and Clairmont Road (24,000 AADT), with excellent visibility and easy access. Additionally, the site is situated across from a Walmart Supercenter (the third-largest employer in the area) and within walking distance of a newly constructed Whole Foods anchoring a shopping center, generating significant traffic to the area. Strategically located within one of North Atlanta’s primary retail corridors, the property is immediately surrounded by a strong mix of national tenants such as Lowe’s, Starbucks, Texaco, Goodwill, BP, and many others. The site is in a densely populated and growing community. A total of 308,364 residents lives within a five-mile radius (a 15 percent increase since 2010). Additionally, the surrounding area is affluent, with an average annual household income of $131,927 within five miles and is projected to increase 12 percent by 2026.

The location is three miles from Buckhead and 13 miles from the City of Atlanta (498,715 residents), the most populous city in Georgia. The site is conveniently located one mile from Dekalb-Peachtree Airport and 22 miles from Hartsfield-Jackson Atlanta International Airport, (the busiest airport by passenger traffic in the United States, 104 million annual passengers). Chamblee High School (1,800+ students), is located less than one mile from the site (increasing traffic in the immediate area), and the location features a beneficial proximity to Oglethorpe University (1,452 students) and Mercer University Atlanta Campus (2,300 students). The property is near several hospitals including, Northside Hospital Atlanta (621 beds), Emory Saint Joseph Hospital (348 beds), and Children’s Hospital of Atlanta (273 beds). Metro Atlanta is the fourth-fastest growing region in the United States with six million residents, with the U.S. Census Bureau projecting that will increase to eight million people by 2040. Atlanta is also a top-10 educational market in the United States with over 50 colleges and universities with nearly 300,000 enrolled students annually. The Atlanta metropolitan area features a global hub airport, a low cost of business and living, a strong base of Fortune 1000 headquarters, amenities like professional sports teams, and renowned museums and cultural institutions.

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