504 Lakeland Plz - Restaurant FOR SALE


Cumming, GA 30040
$2,784,000 USD
858-351-0907
504 Lakeland Plz, Cumming, GA for Sale
$2,784,000 USD
Restaurant - FOR SALE
1/3
null | 6.25% Cap Rate

504 Lakeland Plz
Cumming, GA 30040


OVERVIEW

CORPORATE STORE – This Applebee’s is guaranteed by Applebee’s Restaurant’s Mid-Atlantic LLC, a direct subsidiary of Applebee’s parent company Dine Brands International. ABSOLUTE NNN LEASE – The tenant is responsible for all maintenance and expenses associated with the property, providing a truly passive investment with no landlord responsibilities. STRONG TRAFFIC – The property is directly off the intersection of US Highway 19 and GA-20, which sees combined traffic counts of over 100,000 vehicles per day on average. LAKELAND PLAZA – The subject property is located within Lakeland Plaza directly in front of a Sprouts Farmer’s Market that ranks 76th percentile for foot traffic among all supermarkets in the state of Georgia, per AlphaMaps. Other tenants in the center include LA Fitness, JOANN, and Belk, coming together to command an average of ±177,000 visitors per month. SYNERGISTIC LOCAL RETAIL – The subject property is surrounded by nearly every major national retailer in a 2-mile radius, including Chick Fil A, Target, Publix, Lowes, Walmart, Home Depot, and Hobby Lobby with the 4th busiest Cracker Barrel location in the nation being directly across the street. DAYTIME WORKING POPULATION – The subject property is directly across the highway from The Northside Hospital of Forsyth County, which has ±407 beds and employs ±1,700 physicians with ±4,000 additional staff members. STRONG DEMOGRAPHICS – The subject property is located in a densely populated area of Forsyth County, one of the fastest-growing counties in Georgia. The direct 5-mile radius surrounding the site is home to over 120,000 residents with a projected 9.2% population growth between 2025 and 2030 and an average household income north of $175,000 per year. SURGING DEVELOPMENT – The area surrounding the subject property has seen rapid development in the last 5 years, with over 780 new multifamily units and nearly 1,000,000 square feet of retail, medical, industrial, and office space recently completed or currently under construction. This surge in development underscores the area’s strong demand, making it an attractive location for investment. Broker of Record Bill Pedersen License No. 80041 (GA)

FOR SALE DETAILS

PRICE

$2,784,000 USD

PRICE/SF

$539 USD /SF

CAP RATE

6.25%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Applebees

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Restaurant

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1993

SPRINKLERS

-

PARKING SPACES

120

LAND DETAILS

LAND ACRES

0.82 AC

LAND SF

35,719 SF

ZONING

CBD, Cumming

APN/PARCEL ID

C20-035

ASK ABOUT THIS PROPERTY

Kent HalleMatthews Real Estate Investment ServicesMore Info
858-351-0907

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Kent HalleMatthews Real Estate Investment ServicesMore Info
858-351-0907

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