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Alpharetta, GA - Primrose Schools

$5,039,000

9440 Nesbit Ferry Rd, Alpharetta, GA 30022

Active
Last Updated: 12/23/2024

7

Cap Rate

352,723

NOI

Details:
Cap Rate:    7%
NOI:    $352,723
Building Size:    10,080 sqft
Description:

SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in a NNN leased, freestanding, Primrose School investment property located in Alpharetta, Georgia. The tenant, Primrose School Franchising Company, LLC has over 18 years left on their initial lease with 3 (5-year) options to extend, demonstrating their commitment to the site. The lease features 2% annual rental increases throughout the initial term and option periods, steadily growing NOI and hedging against inflation. The lease is NNN with landlord responsibilities limited to structure making it an ideal, low-management investment opportunity for a passive investor. Founded in 1982, there are more than 500 Primrose schools in 34 states today.

The subject property is located near the signalized, hard corner intersection of Henderson Pkwy and State Hwy 9 with a combined (26,700 VPD). The site benefits from nearby direct on/off ramp access to U.S. Hwy 19, a major thoroughfare averaging over 153,000 VPD. The asset is ideally located in a dense retail corridor, with numerous nearby national/credit tenants including Costco, Home Depot, Target, Walmart Supercenter, Kroger, Publix, Starbucks, McDonald’s, Lowe’s, Kohl’s, and many more. Strong tenant synergy increases consumer draw to the immediate trade area and promotes crossover store exposure to the site. The 5-mile trade area is supported by over 210,000 residents and 147,000 employees, providing a direct consumer base from which to draw. Residents within a 3-mile radius of the subject property boast an affluent average household income of $178,185.

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