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Bubba’s 33 Ground Lease, Buford, GA

Bubba’s 33 Ground Lease

Georgia, USA

Price $3,667,000
Cap Rate
NOI
Lease Term 15 Years
Lease Type Absolute NNN Ground Lease, With Tenant Responsible For All Taxes, Insurance, Maintenance, And Repair, Including Roof, Structure, And Parking Lot
Rental Increases 10% Rental Increases Every Five (5) Years
Year Built 2022
Building Size 7,575 SF
Lot Size ±1.76 Acres (76,666 SF)
Status Sold
Lead Broker Information Michael T. Yuras, CCIM
Vice Chairman
415.481.0788
michael.yuras@cushwake.com
CA RE License #01823291

Jack Hinson
Brokerage
704.572.9921
jack.hinson@cushwake.com
CA RE License #02059267

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

NEW 15-YEAR ABSOLUTE NNN CORPORATE GUARANTEED GROUND LEASE
» Executed by Texas Roadhouse, Inc. (NASDAQ: “TXRH”)
» No landlord management, ideal for an out-of-area investor
» 10% rental increases every five (5) years and in option periods
» Purchase price ~50% lower than Bubba’s 33’s average capital investment for a new store in 2021 ($7.4M)
» New 2022 high-quality construction

PROMINENT LOCATION IN DENSE RETAIL CORRIDOR NEAR LARGE SCHOOLS, HOSPITALS AND COMMUNITY HUBS
» Conveniently located on Brand Smart Way, near the State Route 20/Buford Drive (50,900 AADT) signalized intersection
» Prominent location right off Interstate 85 with excellent freeway visibility and access to 69,751 vehicles per day
» Prime location in Buford’s main retail corridor with proximity to the Mall of Georgia (225 stores), the largest mall in Georgia visited by 15 million shoppers per year with nearby national tenants such as Costco, Sam’s Club, Target, Sprouts Farmers Market, Chipotle, Starbucks, and many more
» Near well-attended schools including Georgia Gwinnett College (10,949 students), PCOM Georgia (1,741 students), Mountain View High School (2,660 students), and numerous others

DENSELY POPULATED AND AFFLUENT COMMUNITY WITH ACCESS TO THE LARGE ATLANTA TRADE AREA
» Part of The Exchange at Gwinnett, a new $350M master development with over 465,000 SF retail space and over 1,000 new multi-family units
» Walking distance to several large apartment complexes and surrounded by many large single and multi-family developments
» 160,131 residents live within a five-mile radius of the property (20 percent growth since 2010)
» Average annual household income of $108,166 within five miles (projected 12 percent increase by 2026)
» Gateway to Downtown Atlanta, the most populous city in Georgia (498,715 residents), and the ninth-largest metro area in the U.S. (over six (6) million people)
» Georgia’s business climate has been ranked #1 in the nation for the eighth consecutive year by Site Selection and Area Development ranked Georgia the top state for doing business for the seventh year in a row


Property Description

SOLD

Bubba’s 33 is conveniently located on Brand Smart Way, immediately near the State Route 20/Buford Drive (50,900 AADT) signalized intersection. The property is prominently located right off Interstate 85 with excellent freeway visibility and access to 69,751 vehicles per day. The site is adjacent to popular area attractions, Andretti Karting, and Games – Buford and Topgolf, increasing traffic to the site. The property is in a prime location in Buford’s main retail corridor with proximity to the Mall of Georgia (225 stores), the largest mall in Georgia visited by 15 million shoppers per year. Additionally, the property is surrounded by national tenants such as Costco, Sam’s Club, Target, Sprouts Farmers Market, Chipotle, Starbucks, and many more, drawing significant traffic to the area. Six major hotels with 551 total rooms are situated less than two miles from the site, providing an ideal customer base for the property. The site is eight miles from Northside Hospital Gwinnett (388 beds, 5,100+ employees) and near well-attended schools, including Georgia Gwinnett College (10,949 students), PCOM Georgia (1,741 students), Mountain View High School (2,660 students), and numerous others.

The property is within walking distance of several large apartment complexes with over 2,000 units and is surrounded by numerous large single and multi-family developments. 160,131 residents live within a five-mile radius of the property (20 percent growth since 2010) with an average annual household income of $108,166. The average annual household income is projected to increase over 12 percent by 2026, posing Bubba’s 33 and Buford for concurrent growth. The community is affluent and growing and is a gateway to Downtown Atlanta, the most populous city in Georgia (498,715 residents), and the ninth-largest metro area in the U.S. (over six (6) million people).

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