6138 Pavillion Way way - Fast Food FOR SALE


Covington, GA 30014
$4,060,000 USD
619-218-6427
6138 Pavillion Way way, Covington, GA for Sale
$4,060,000 USD
Fast Food - FOR SALE
1/6
null | 5% Cap Rate

6138 Pavillion Way way
Covington, GA 30014


HIGHLIGHTS

  • Brand New 2024 High-Quality Construction
  • New 10-Year Absolute NNN Ground Lease with Structured Rental Increases Every 5-Years and (4) 5-Year Options to Extend
  • Olive Garden is a Subsidiary of Darden Restaurants, Inc. (NYSE: DRI) Rated BBB (Investment Grade) by Standard & Poor's
  • Traffic Counts Exceed 33,000 Vehicles Per Day on US Hwy 278; 77,000 Vehicles Per Day on I-20; & 22,000 Vehicles Per Day on Turner Lake Rd
  • 127,000 Residents within 10-Miles of Property w/ 7.0% Population Growth Over Next 5-Years & Average HH Income of $98,000
  • Olive Garden is the Leading Restaurant in the Italian Dining Segment w/ 900+ restaurants, 99,000+ employees & more than $4.9 Billion in Annual Sales

OVERVIEW

The subject property is a newly constructed Olive Garden located in Covington (Atlanta), Georgia. The brand new 10-year absolute NNN ground lease includes structured rent increases every 5-years in the primary term and throughout the (4) 5-year option periods. The lease is absolute NNN with zero landlord responsibilities making it an ideal, management-free investment opportunity for a passive investor. Located in a prime location in a high-traffic retail corridor, this Olive Garden benefits from significant visibility and accessibility, with daily traffic counts exceeding 33,000 vehicles per day on US Highway 278, 77,000 vehicles per day on Interstate-20, and 22,000 cars per day on Turner Lake Road. The surrounding area is a bustling retail hub with a growing population and strong demographics. Within a 10-mile radius, the population exceeds 127,000, and the average household income is approximately $98,000. The Covington population has been rapidly growing and is expected to grow another 7.0% over the next 5-years. National retailers in the immediate vicinity include Longhorn Steakhouse, Bojangles, Applebee’s, Chick-Fil-A, QuikTrip, Kroger, Chipotle, Goodwill, Dunkin’ Donuts, Planet Fitness, Ross, AutoZone, O’Reilly Auto Parts, CVS Pharmacy, Arby’s, KFC, Burger King, Advance Auto, Taco Bell, Walgreens, Wendy’s, Popeyes, McDonald’s, and many more.

FOR SALE DETAILS

PRICE

$4,060,000 USD

PRICE/SF

$519 USD /SF

CAP RATE

5%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Olive Garden - New 10-Yr Abs NNN Ground Lease

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Fast Food

ADD'L SUBTYPES

Freestanding, Restaurant, Storefront

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2024

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

2.68 AC

LAND SF

116,741 SF

ZONING

-

APN/PARCEL ID

-

ASK ABOUT THIS PROPERTY

John WertzWertz Real Estate Investment ServicesMore Info
619-218-6427

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John WertzWertz Real Estate Investment ServicesMore Info
619-218-6427

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