1307 Cleveland Hwy, Dalton, GA
Retail for Sale - $1,565,028 - 1,822 Sq. Ft. on 0.95 acres
Property Info
| CIMLS# | 96120 |
| Location 1307 Cleveland Hwy Dalton GA 30721 | |
| Updated | May 13th, 2009 |
| Type | Retail |
| Price | $1,565,028 |
| Building | 1,822 Sq. Ft. |
| Land | 0.95 acres |
Property Description
PROPERTY DESCRIPTION:
Brand new 10 Year Lease w/ increases STARBUCKS, billboard lease w/ Lamar Advertising, opened May 2007. Starbucks is publically traded on NASDAQ as "SBUX" and is currently enjoying it's 35th Anniversary. In 2006 Satrbucks averaged opening 6 stores a day bringing their total stores to 12,440. They had an annual revenue of $7.8 Billion Dollars and were voted recognized by FORTUNE as "one of the 100 best companies to work for 2007"
This unit is the very latest design that SBUX has out for construction very similiar to the representative photo above.
Notice: Bradley Nelson is a Realtor licensed in the State of Georgia and is a principal in the Company that holds ownership (Seller).
LOCATION DESCRIPTION:
This property is ideally located on a .95 Acre SW corner of Cleveland Hwy (AKA GA Hwy. 71) and the North Dalton By-pass (AKA GA Hwy 41). Nearby businesses include Bi-Lo, Kroger, Lowe's, Eckerd, Zaxby's, McDonalds, Hardee's, Sonic, Waffle House, Pizza Hut, Captain D's, Taco Bell, Bojangle's, Arby's, Western Sizzlin, banks, etc.
Financials
PROPERTY OVERVIEW
CAP Rate: 7.0%
Year Built: 2007
Lot Size: .95 Acres
TENANTS SUMMARY
TENANT # 1
Trade Name: Starbucks
Ownership: Public
Stock Symbol: SBUX
Net Worth: $2.1 Billion
Tenant: Corporate Store
Lease Guarantor: Corporate Guarantee
No. of Locations: 15,756
Website: www.starbucks.com
Lease Type: NN
Roof & Structure: Landlord Responsible
Lease Term: 10 Years
Lease Commencement: May 2007
Term Remaining On Lease: 8 Years (plus Renewal Options)
Increases: 10% During each Option
Options: Four, 5-Year Options
2009 Net Operating Income: $104,775
TENANT # 2
Trade Name: Lamar Advertising
Ownership: Public
Stock Symbol: LAMR
Net Worth: $1.5+ Billion
Tenant: Corporate Billboard
Lease Guarantor: Corporate Guarantee
No. of Locations: 150+ Companies, 40 States, 149,000+ Billboards
Website: www.lamar.com
Lease Type: Absolute NNN (no Landlord responsibility)
Lease Term: 10 Years
Lease Commencement: March 9th, 2001
Term Remaining On Lease: 2 Years
Increases: 3% Annually
2009 Net Operating Income: $4,920.71
FINANCIAL SUMMARY
STARBUCKS:
2009 - NOI $104,775
LAMAR ADVERTISING:
2009-NOI $4,920.71