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Newnan, GA - Summerlin Corners

$5,728,000

1757 Newnan Crossing Blvd, Newnan, GA 30265

Active
Last Updated: 03/02/2024

6.25

Cap Rate

343,704

NOI

Details:
Cap Rate:    6.25%
NOI:    $343,704
Building Size:    16,000 sqft
Lot Area:    2.45 acres
Lease Type:    Triple Net
Year Built:    2022
Description:

• 4-tenant, 100% occupied pad featuring Dollar Tree, Glam Nail Salon, WHealthly, and Kale Me Crazy
• All tenants executed 10-year leases with scheduled rental increases and options to extend
• All tenants reimburse their pro rata share of taxes, insurance, and common area expenses, limiting expense leakage for a new investor

• Strategically positioned at the signalized, hard corner intersection of Newnan Crossing Boulevard and Lower Fayetteville Road
• The asset is an outparcel to a Kroger-anchored shopping center that features national/credit retailers such as Starbucks, McDonald’s, Wells Fargo, and more
• According to Placer.io, this Kroger location is ranked in the top 14%of all Krogers in GA with 1.3M+ visits last year
• Kroger recently invested in a full interior renovation, demonstrating their long-term commitment to the site and performance
• Located off Interstate 85 (62,300 VPD), providing access for traveling customers
• The brand-new state-of-the-art property is complete
• The site promotes excellent visibility and access, providing ease and convenience for customers
• Nearly 72,000 residents and 32,000 employees support the trade area
• Affluent $106,312 average household income within 1 mile radius
• Newnan’s population is growing a rate of 2.14% annually, and its population has increased 6.71% since the most recent census

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