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Del Taco Ground Lease, Rome, GA

Del Taco Ground Lease

Price $1,341,000
Cap Rate 4.85%
NOI $65,000
Lease Term 20 years
Lease Type Absolute NNN ground lease, with tenant responsible for all taxes, insurance, and maintenance, including roof, structure, and parking lot
Rental Increases 10% rental increases every five (5) years
Year Built 2019
Building Size 2,860 SF
Lot Size 1.00 acres (43,460 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
Senior 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

ABSOLUTE NNN GROUND LEASE WITH SCHEDULED RENTAL INCREASES
» New 20-year NNN ground lease with no landlord responsibilities
» 10% rental increases every five years, providing an excellent hedge against inflation
» Multi-unit Del Taco operator and with strong personal guarantee
» 2018 marked Del Taco’s sixth consecutive year of system-wide comparable restaurant sales growth

HIGH-TRAFFIC LOCATION IN DENSE RETAIL CORRIDOR
» The property is centrally located on Shorter Avenue, Rome’s main east-west thoroughfare,
with excellent visibility and access to 24,600 vehicles per day on Shorter Avenue Northwest
» Shorter Avenue is Rome’s primary retail corridor
» Outparcel to Big Lots, Harbor Freight Tools, Bargain Hunt, and the 40,000 square-foot Redmond Family Care Center
» Within walking distance of shopping centers anchored by Walmart Supercenter, Sam’s Club,
and Lowe’s Home Improvement

CENTRAL LOCATION WITH STRONG CUSTOMER BASE
» Minutes from several universities and colleges, including Georgia Northwestern Technical College (6,016 students) Shorter University (1,800 students), Georgia Highlands College (5,530 students), and Berry College (2,055 students)
» Surrounded by three (3) elementary schools including Elm Street Elementary (500 Students), West End Elementary (784 Students), and Alto Park Elementary (476 Students)
» Minutes From Floyd Medical Center (304 beds and 2,700 employees) and Redmond Regional Medical Center (230 beds and 1,200 employees)
» Close to State Mutual Stadium, the home of Rome’s minor league baseball team
» Near the Rome Tennis Center, the nation’s largest hard court tennis facility, which hosts several tennis tournaments that are among Rome’s most popular tourist events

NEW 2019 RENOVATION FEATURING DEDICATED DRIVE-THRU
» Recently renovated by tenant at tenant’s expense, demonstrating long-term commitment to the location and limiting near-term deferred maintenance or capital costs
» Drive-thru provides additional customer convenience and caters to commuter traffic



Property Description

The property is centrally located on Shorter Avenue, Rome’s main east-west thoroughfare, with excellent visibility and access to 24,600 vehicles per day. Shorter Avenue is a primary retail corridor, and the property is outparcel to Big Lots, Harbor Freight Tools, Bargain Hunt, and Redmond Family Care Center. The property is within walking distance of a Walmart Supercenter, Sam’s Club and Lowe’s Home Improvement. Other notable national retailers in the surrounding area include AutoZone, Wendy’s, Waffle House, CVS, Chick-fil-A, and McDonald’s.

The property is minutes from several large schools, including Georgia Northwestern Technical College (6,016 Students) and Shorter University (1,800 Students). The property is also a short distance from Floyd Medical Center (304 beds and 2,700 employees) and Redmond Regional Medical Center (230 beds and 1,200 employees), and is close to popular recreational areas. State Mutual Stadium—the home of Rome’s minor league baseball team—is nearby, and the property is not far from the Rome Tennis Center, which is the nation’s largest hard court tennis facility. It hosts several tennis tournaments that are among Rome’s most popular tourist events. Additionally, the property is bordered by dense residential neighborhoods.

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