2004 Nathan Dean Byp - Restaurant FOR SALE


Rockmart, GA 30153
$2,570,000 USD
404-832-1251
2004 Nathan Dean Byp, Rockmart, GA for Sale
$2,570,000 USD
Restaurant - FOR SALE
1/6
null | 5.25% Cap Rate

2004 Nathan Dean Byp
Rockmart, GA 30153


HIGHLIGHTS

  • New Construction LongHorn Ground Lease with 10-Year Term
  • LongHorn Steakhouse was the Best Performer among All Darden Restaurants, with a 7.5% Increase in Same-Store Sales 4Q
  • Located at Lighted Busy Intersection: 23,400 VPD on Highway 278
  • Across from Strong Performing Walmart: $75M+ sales and 1.7M Annual Visits
  • Strong Intrinsic Value Due to Ground Lease: Value of land and building exceeds purchase price
  • Investment Grade Tenant: (S&P BBB) $11.5B in Total Sales Annually

OVERVIEW

Franklin Street is pleased to present this new construction Longhorn Steakhouse ground lease in Rockmart, Georgia. Rockmart is located within the Atlanta MSA, approximately one hour northwest of downtown Atlanta. The location of the site is across from a strong performing Walmart that pulls from a 10+ mile radius. The development is located at a lighted intersection and shares access with a newly developed Dunkin'. The location fronts Highway 278, which attracts 23,400 daily drivers. Longhorn will have very limited competition, as the next closest national steakhouse is more than 20 miles away. LongHorn Steakhouse is part of the Darden brand which is the world's largest full-service restaurant company, and includes popular national restaurant concepts Olive Garden, Cheddar's, Yard House, Capital Grille, Seasons 52, Bahama Breeze, Eddie V's, Ruth's Chris, and Chuy's. LongHorn Steakhouse was the top performer among all concepts for same store sales increases. The Highway 278 corridor is home to national brands including Walmart, Ingles, Tractor Supply Company, Chick-fil-A, Zaxby's, Mavis Tire, Dollar Tree, Taco Bell, among others.

FOR SALE DETAILS

PRICE

$2,570,000 USD

PRICE/SF

$445 USD /SF

CAP RATE

5.25%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Longhorn Steakhouse Ground Lease

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Restaurant

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2025

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

2.24 AC

LAND SF

97,574 SF

ZONING

-

APN/PARCEL ID

060-025C

ASK ABOUT THIS PROPERTY

Bryan BelkFranklin StreetMore Info
404-832-1251

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Bryan BelkFranklin StreetMore Info
404-832-1251

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