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Hardee’s, Cornelia, GA

Hardee’s

GA, United States

Price $2,000,000
Cap Rate
NOI
Lease Term 20 Years
Lease Type
Rental Increases 10% Rental Increases Eveyr 5 Years
Year Built 2017
Building Size 2,927 SF
Lot Size 1.57 Acres (68,297 SF)
Status Sold
Lead Broker Information Scott Crowle
Senior Director
415.604.4288
scott.crowle@cushwake.com
CA RE License #01318288

Michael T. Yuras, CCIM
Executive Managing Director
415.481.0788
michael.yuras@cushwake.com
CA RE License #01823291

Investment Highlights

LOW-RISK, PASSIVE INVESTMENT
» New 20-year NNN lease with no landlord responsibilities
» 10% fixed rental increases every five years in initial term and option periods, providing a hedge against inflation
» Tenant/guarantor is the second largest Hardee’s franchisee in the U.S. with 140 locations

HIGH-TRAFFIC LOCATION WITH LARGE CUSTOMER BASE
» 24,200 vehicles per day directly in front of the site on U.S. Highway 441 Business, Cornelia’s primary retail corridor
» Convenient access to U.S. Highway 441, a major commercial and tourist thoroughfare through several large urban areas, with a high traffic count of 31,500 vehicles per day
» Close proximity to the industrial operations of some of Habersham County’s largest employers: Fieldale Farms (2,035 employees), Ethicon (550 employees), GlobalTech Industries (300 employees), and TenCate (260 employees)
» Near Habersham Medical Center (137 beds, more than 700 employees, and an annual economic impact of over $89 million) and Piedmont College (2,264 students)
» Habersham County and Northeast Georgia have a reputation as one of the finest outdoor recreation areas in the U.S. and are visited by millions of tourists each year

NEW 2017 CONSTRUCTION
» Built in 2017 to tenant’s exact specifications
» Latest Hardee’s prototype
» Features a dedicated drive-thru, providing additional convenience to customers and increasing sales revenue

Click Here to Download Offering Memorandum


Property Description

SOLD

The property is located on U.S. Highway 441 Business, with excellent access and visibility to 24,200 vehicles per day. U.S. Highway 441 is located less than half a mile from the property. U.S. 441 is a connector between several major urban areas, including Gainesville, Athens, and Knoxville, and it experiences a high traffic count of 31,500 vehicles per day. The property’s close proximity to U.S. Highway 441 allows Hardee’s to benefit from the heavy commuter and tourist traffic traveling along this major transportation corridor. The property is also located in Cornelia’s primary retail corridor and is close to several large shopping centers and major national retailers. Habersham Hills, located directly across from the property, is anchored by Tractor Supply, Goodwill, and Goody’s. Other major tenants in the nearby area include Walmart Supercenter, Lowe’s, Hibbett Sports, Big Lots, Verizon, O’Reilly Auto Parts, Zaxby’s, Waffle House, AutoZone, Dollar General, and many others.

The property benefits from its central location near several of the region’s economic engines, and is close to the industrial operations of some of the largest employers in the area. Fieldale Farm’s chicken processing plant is less than three miles away. Fieldale Farms is the largest employer in Northeast Georgia and in Habersham County, employing over 2,000 people at its Cornelia facility. The property is also near the industrial facilities for Ethicon (550 employees), GlobalTech Industries (300 employees), and TenCate (260 employees). Habersham County Medical Center is less than three miles away; the 137-bed hospital has more than 700 employees and an annual economic impact of over $89 million. Piedmont College is just over a mile from the property. The school has over 2,200 students and has recently completed several major developments, including Piedmont Village and a $16 million Student Commons, complete with a dining hall, fitness center, the official Piedmont College bookstore, and a Starbucks cafe. The campus is primarily a residential campus, with ten dormitories that together house about 600 students. The new Piedmont Village houses an additional 180 students, creating a large customer base for Hardee’s.

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