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QuikTrip, Cumming, GA

QuikTrip

Cumming, GA

Price $3,334,000
Cap Rate 4.50%
NOI $150,000
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 Approximate 7.5% Rental Increases Every Five (5) Years
Year Built 2022
Building Size N/A
Lot Size ±2.629 acres (114,533 SF)
Status Available
Lead Broker Information MICHAEL T. YURAS, CCIM
Vice Chairman
415.481.0788
michael.yuras@cushwake.com
CA RE License #01823291

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 GROUND LEASE
» 15-year absolute NNN ground lease with scheduled rental increases, providing a hedge against inflation
» Tenant is responsible for taxes, insurance, and all maintenance, including roof, structure, and parking lot
» QuikTrip Corporation is a privately held company worth over $11 billion
» QuikTrip has more than 900 stores in 14 states

HIGH-VISIBILITY LOCATION NEAR STRONG TRAFFIC DRIVERS
» Prominent location on Browns Bridge Road (18,900 AADT) with excellent street visibility
» U.S. Highway 19/Georgia State Route 400 is located less than a mile from the property, providing access to 55,900 vehicles per day
» Directly across from a Walmart Supercenter and immediately surrounded by a strong mix of local and national tenants such as Kroger, Publix, Walgreens, O’Reilly Auto Parts, McDonald’s, Wendy’s, Waffle House, and many others
» Beneficial proximity to well-attended schools including, North Forsyth High School (2,599 students), North Forsyth Middle School (1,250 students), and Coal Mountain Elementary School (821 students), providing a nearby customer base for the site
» Less than 15 minutes from Northside Hospital Forsyth (363 beds, 3,600 employees) and 30 minutes from the University of North Georgia – Cumming Campus, a commuter campus with over 1,000 students

PRIME LOCATION IN AFFLUENT AND GROWING ATLANTA SUBURB
» Population of 57,858 within a five-mile radius (a 38 percent increase since 2010), projected to increase 13 percent by 2026
» Average annual household income of $109,185 within three miles (projected to increase 11 percent by 2026)
» Situated near area attractions such as Lake Sidney Lanier (eight million annual visitors, $5 billion in annual economic impact), Sawnee Mountain Preserve (963 acres), and the Cumming Fairgrounds, host of the Cumming Country Fair & Festival (the largest event held at the Cumming Fairgrounds), attracting over 225,000 people annually from all over Georgia
» Gateway to Atlanta (498,715 residents), the most populous city in Georgia

NEW 2022 HIGH-QUALITY CONSTRUCTION
» 2022 high-quality construction featuring eight (8) gas pumps and a standalone convenience store


Property Description

QuikTrip is prominently located along Browns Bridge Road (18,900 AADT) with excellent street visibility. U.S. Highway 19/Georgia State Route 400 is located less than a mile from the property, providing access to 55,900 vehicles per day. The property is located directly across from a Walmart Supercenter and is immediately surrounded by a strong mix of local and national tenants such as Kroger, Publix, Walgreens, O’Reilly Auto Parts, McDonald’s, Wendy’s, Waffle House, and many more. The site maintains beneficial proximity to several well-attended schools including, North Forsyth High School (2,599 students), North Forsyth Middle School (1,250 students), and Coal Mountain Elementary School (821 students), providing access to a nearby customer base. The property is less than 15 minutes from Northside Hospital Forsyth (363 beds, 3,600 employees) and 30 minutes from the University of North Georgia – Cumming Campus, a commuter campus with over 1,000 students.

The site is in a prime location in an affluent Atlanta suburb. 57,858 residents live within a five-mile radius of the site (a 38 percent increase since 2010). The average annual household income is $109,185 within three miles and is projected to increase 11 percent by 2026. The site is situated near area attractions such as Lake Sidney Lanier (eight million annual visitors, $5 billion in annual economic impact), Sawnee Mountain Preserve (963 acres), and the Cumming Fairgrounds, which hosts the Cumming Country Fair & Festival (the largest event held at the Cumming Fairgrounds), attracting over 225,000 people annually from all over Georgia. The location is a gateway to Atlanta (498,715 residents), the most populous city in Georgia. Cumming is rated one of the best places to live in Georgia according to Niche.com. Additionally, Cumming was named the 19th-best city to live in Georgia, according to ChamberofCommerce.org.

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