Rome, GA - Verizon

Description:

SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in freestanding, NN leased, Verizon investment property located in Rome, Georgia. The tenant has approximately 4 years remaining with 1 (5-year) option to extend. The lease features a 10% rental increase at the beginning of each option period, steadily growing NOI and hedging against inflation. The lease is NN with minimal landlord responsibilities making it an ideal, low-management investment opportunity for an out of state investor. Founded in 2000, Verizon is one of the world’s leading providers of technology and communication services and generated revenue exceeding $134 billion in 2023.

The asset has excellent visibility at the signalized, hard corner intersection of Broad Street and Turner McCall Boulevard (combined 45,000 VPD). The site receives significant consumer traffic from its position at the heavily trafficked intersection in addition to crossover retail exposure derived from nearby national/credit tenants. Turner McCall Boulevard is the primary retail thoroughfare serving the city of Rome, featuring major retailers including Home Depot, Publix Super Market, ALDI, and the Riverbend Shopping Center, a large-scale retail center less than 1/2-mile from Verizon. The centers receive a combined 5.7 million annual visits (per Placer.ai) and are anchored by national retailers such as Kroger, T.J. Maxx, Kohl’s, Ross, and Barnes & Noble. The surrounding area serves as the primary retail destination in Northwest Georgia due to its concentration of retail space as there is over 1.8 million square feet of retail building within 1-mile of the subject property. Furthermore, the site has access to a direct consumer base as the 5-mile trade area is supported by a population of over 59,100 residents and 35,700 employees with an average household income of $84,076.