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Hardee’s, Athens, GA

Hardee’s

GA, United States

Price $2,340,000
Cap Rate
NOI
Lease Term 20 Years
Lease Type Absolute NNN, with Tenant Responsible for all Property-Related Costs, Maintenance, and Repairs, including Roof and Structure
Rental Increases 10% Rental Increases Every 5 Years
Year Built 2018
Building Size 2,927 SFq
Lot Size 1.05 Acres (45,872 SF)
Status Sold
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

Cushman and Wakefield Inc. LIC. # 00616335
This property is listed in conjunction with Georgia-licensed real estate broker Delta Commercial.

Investment Highlights

NEW 20-YEAR ABSOLUTE NNN LEASE WITH SCHEDULED RENTAL INCREASES
» No landlord management, ideal for an out-of-area investor
» 10% rental increases every five years, providing a hedge against inflation
» Leased to and guaranteed by Summit Restaurant Holdings, LLC, the second largest Hardee’s franchisee in the U.S., with over 150 Hardee’s locations

TARGET OUTPARCEL – HIGH-TRAFFIC RETAIL CORRIDOR
» Excellent visibility and access to 34,300 vehicles per day on Atlanta Highway
» Convenient access to Athens Perimeter (39,200 AADT)
» Located at signalized entrance to large retail center anchored by Target

CENTRAL LOCATION WITH STRONG CUSTOMER BASE
» Near the University of Georgia, the largest college in the state and the largest employer in the area, with over 37,600 students and 10,655 employees
» Minutes from several of the region’s largest employers, including Piedmont Athens Regional Medical Center (over 3,300 employees), St. Mary’s Health Care System (2,090 employees), Caterpillar (1,700 employees), and Pilgrim’s (1,650 employees)
» Affluent demographics, with high average household incomes of $98,664 within a one-mile radius and $78,060 within a three-mile radius
» Population of 97,221 within a five-mile radius, providing a large customer base in the surrounding area

NEW 2018 CONSTRUCTION
» Currently under construction 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 strategically located at the signalized entrance to a Target-anchored shopping center on Atlanta Highway, one of the area’s main thoroughfares, with excellent visibility and access to 34,300 vehicles per day directly in front of the property. Approximately one mile from the property, Atlanta Highway provides convenient access to Athens Perimeter, another primary route with a traffic count of 39,200 vehicles per day. The property is outparcel to a large retail center anchored by Target and featuring well-known tenants, including Michaels, Office Depot, Payless, and GameStop. The property is a short distance from Georgia Square Mall, a super-regional mall anchored by JCPenney, Belk, and Sears. Other notable tenants near the property include Academy Sports + Outdoors, Barnes & Noble, Walmart Neighborhood Market, Ingles Market, and Dollar Tree, amongst others.

The property is close to several important community amenities. The property is minutes from the University of Georgia, which is the largest college in the state and has a total enrollment of over 37,600 students. Several of the region’s largest employers are located near the property, including the University of Georgia (10,655 employees), Piedmont Athens Regional Medical Center (over 3,300 employees), St. Mary’s Health Care System (2,090 employees), and Caterpillar (1,700 employees). A number of recreational areas are also nearby, including several parks, Jennings Mill Golf Course, and Athens Country Club. Additionally, the property is supported by a large, affluent customer base, with an average household income of $98,664 within a one-mile radius and a population of 97,221 within a five-mile radius.

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