Sam's Club Atlanta Net Leased Asset

2901 Clairmont Road, Atlanta, GA

$16,895,000

Price

128,776 sqft

Building Size

22.1 acres

Lot Area

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Street
Map
Overview
Building Size
128,776 sqft
Lot Area
22.1 acres
Occupancy
100%
Units
1
Year Built
1999
Floors
1
Description

Sam's Club leasehold asset subject to a ground lease. Asset consists of a 22.1 acre ground leased site improved with a Sam's Club Store with a Sam's fuel center. The lease to Sam's Club lease has 5 years remaining on the current term with 6 five-year renewal options through July 4, 2055. The land lease has 5 years remaining on the current term with 3 ten-year renewal options through July 4, 2055. Sam's Club pays all expenses except for the land lease. The asset has an assumable loan with a balance of $10,144,000 at 4.77%, 30-year amortization, 10-year Maturity, with a 1% assumption fee. The loan may be paid off with no penalty on the 10-year maturity date (1/6/2028).

The asset is located at the Northeast corner of I-85 and Clairmont Road, within Chamblee City Limits, Dekalb County, GA approximately 10 miles northeast of downtown Atlanta, GA.

Site is located at the northeast corner of I-85 and Clairmont Road. Property fronts Clairmont Road (246 +/- ft) and I-85 Frontage Road(792 +/- ft). A McDonalds restaurant is located in front of the site along Clairmont Road. Peachtree Creek borders the site along the northwest side. A U-Haul mini storage facility adjoins the property on the east side and shares a driveway with the site on the I-85 Frontage Road.

Highlights
  • Sam's Club Net-Leased Leasehold Improvement
  • $1,219,705 NOI
  • 7.5% IRR
  • 7.22% Cap rate
  • $10,144,000 Assumable loan
  • 7.98% cash-on-cash return
  • Walmart Stores, Inc. Guarantee
  • Current term through 5/31/2026
  • Sam's lease can be extended through 7/4/2055
  • Ground lease can be extended through 7/4/2055
  • Long-standing, top-performing store
  • Visible and convenient to I-85 (218,000 AADT)
  • Assumable loan $10,144,000 @ 4.77%
  • Loan may be paid off with on penalty (1/6/2028)
Documents
Location
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