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Hardee’s, Buford, GA

Hardee’s

Price $2,415,000
Cap Rate
NOI $121,250
Lease Term 20 Years
Lease Type Absolute NNN, 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 1981
Building Size 3,950 SF
Lot Size 0.83 acres (36,163 SF)
Status Sold
Lead Broker Information Michael T. Yuras, CCIM
Executive Managing Director
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

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
» Summit Restaurant Holdings is a subsidiary of Capstone Restaurant Group, which is the second largest franchisee in the CKE system, with over 300 restaurants in 16 states, including 286 Hardee’s and Carl’s Jr. units

HIGH-TRAFFIC LOCATION IN DENSE RETAIL CORRIDOR
» Located at the signalized intersection of Buford Highway Northeast and Buford Drive, with excellent visibility and access to 72,000 vehicles per day
» Outparcel to Buford Crossroads, a shopping center anchored by Goodwill and DaVita
» Near the Mall of Georgia, the largest mall in Georgia and a major tourist attraction, visited by 15 million shoppers each year

CENTRAL LOCATION IN AFFLUENT, FAST-GROWING ATLANTA SUBMARKET
» Less than two miles from downtown Buford and less than four miles from the shores of Lake Lanier, which is visited by more than 10 million people per year
» 125,591 residents with an average household income of $102,205 live within five miles of the property
» 5,712 daytime employees within a one-mile radius, creating a population increase during business hours
» Located in Buford, which is growing faster than any other submarket in Gwinnett County
» The population near the property is expected to increase approximately 11% by 2023 within three- and five-mile radii


Property Description

SOLD

The property is conveniently located at the signalized intersection of Buford Highway Northeast and Buford Drive, with excellent visibility and access to 72,000 vehicles per day. Buford Drive is a dense retail corridor, and the property is located near large shopping centers and nationally recognized retailers. The property is outparcel to Buford Crossroads, a shopping center anchored by Goodwill and DaVita, and is within walking distance of retail plazas tenanted by Big Lots, At Home, McDonald’s, O’Reilly Auto Parts, Walgreens, and more. Just three miles away down Buford Drive is the Mall of Georgia, the largest mall in Georgia, with more than 230 stores. A major tourist attraction and super-regional shopping hub, the Mall of Georgia is visited by 15 million shoppers each year. The mall is anchored by Dillard’s, Macy’s, JCPenney, Belk, and Von Maur, and it includes a 500-seat amphitheater and a 20-screen IMAX theater.

The property is centrally located less than two miles from downtown Buford. Additionally, the property is less than four miles from the shores of Lake Lanier, which is visited by more than 10 million people per year. The surrounding area provides a large, affluent customer base for the property; 125,591 residents with an average household income of $102,205 live within a five-mile radius. Major employers are located in the property’s immediate vicinity, and the population increases during business hours within a one-mile radius of the property due to 5,712 daytime employees working in the area. Since 2010, Buford has experienced a population growth rate three times the national average. Buford is growing faster than any other submarket in Gwinnett County, and the property is close to both residential and commercial developments that are currently under construction. Buford’s growth is expected to continue for the foreseeable future, with the population near the property expected to increase approximately 11% by 2023 within three- and five-mile radii.

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