138 N Midland Ave - Restaurant FOR SALE


Monroe, GA 30655
$2,100,000 USD
678-777-0147
138 N Midland Ave, Monroe, GA for Sale
$2,100,000 USD
Restaurant - FOR SALE
1/1
null | 6% Cap Rate

138 N Midland Ave
Monroe, GA 30655


HIGHLIGHTS

  • Experienced Multi-Unit Johnny’s Pizza Franchisee – Operator’s Third Location
  • Fully Renovated in 2024 Separate ±1,020 SF Office/Storage Building – Immediate Value-Add Opportunity
  • Potential Additional Rent of Approximately $1,500–$2,000/Month
  • Prime Downtown Monroe Location – Growing Dining, Retail & Entertainment District
  • Approximately 0.53-Acre Downtown Site

OVERVIEW

Investment opportunity in the heart of Downtown Monroe, Georgia, featuring an experienced multi-unit franchise restaurant operator, contractual rent growth, extensively renovated improvements, and immediate value-add potential. The 5,000 SF main restaurant building is leased to a Johnny’s New York Style Pizza franchisee, with this location representing the operator’s third Johnny’s location. The lease commenced August 1, 2026, at an initial base rent of $10,500 per month ($126,000 annually), with contractual rent increases, an initial 5-year term plus two additional 5-year renewal options. The offering also includes a separate 1,020 SF renovated office/storage building, currently vacant and providing an immediate opportunity to generate additional income. Estimated rental potential of approximately $1,500–$2,000 per month could increase total potential base rental income to approximately $144,000–$150,000 annually. The property totals 6,020 SF on approximately 0.53 acres and was gutted and fully renovated in 2024. The restaurant features a full commercial kitchen, 16-foot ceiling height, indoor and outdoor dining areas, two wet bars, covered patio/deck areas, walk-in refrigeration and a wet sprinkler system. The accessory building includes office/storage space, two drive-through roll-up doors and additional refrigeration. Positioned on a prominent three-street corner in Downtown Monroe, the property offers frontage along N Midland Avenue, E Highland Avenue and N Madison Avenue. The appraisal describes the property's visibility and exposure as very good for a restaurant. On-site parking includes 10 standard spaces plus 15 golf-cart spaces, with an adjacent free municipal parking lot providing approximately 66 additional spaces. The property is situated within vibrant Downtown Monroe, surrounded by an active mix of restaurants, breweries, cafés, retail, entertainment and community activity, while offering regional connectivity through US-78, GA-11, GA-83 and GA-138, with access to I-20 and I-85. Offered at $2,100,000, the property combines established franchise restaurant income, an experienced multi-unit operator, contractual rent growth, extensively renovated real estate, a highly visible downtown location, and a clear value-add opportunity through lease-up of the separate 1,020 SF building.

FOR SALE DETAILS

PRICE

$2,100,000 USD

PRICE/SF

$349 USD /SF

CAP RATE

6%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Restaurant

ADD'L SUBTYPES

Bar, Freestanding

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1959

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.53 AC

LAND SF

23,087 SF

ZONING

B2

APN/PARCEL ID

M014000000198000

ASK ABOUT THIS PROPERTY

Driss SenhajiAtlanta Business Brokers, LLC.More Info
678-777-0147

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Driss SenhajiAtlanta Business Brokers, LLC.More Info
678-777-0147

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.