Jim 'N Nick's BBQ
Closed205 Fischer Crossings Blvd, Sharpsburg, GA 30277
Property type
Retail
Price
$4,377,187
Building size
5,800 sf
Rentable area
5,800 SF
Year built
2020
Year renovated
Occupancy
Zoning code
Lot size
2.08 Acres
Sold/status
Sold · Date unknown
Sale price
$4377187
CAP
6.40%
Net Operating Income
$280,140
Property description
Franklin Street is pleased to present the opportunity to acquire a newly developed Jim 'N Nick's BBQ location in Sharpsburg/Peachtree City, Georgia. Peachtree City and Sharpsburg are southern suburbs of Atlanta. Peachtree City is a master-planned community known as a golf cart city, which caters to many of the employees of Hartsfield Jackson, the world's busiest airport. The area has seen substantial growth and the intersection where the property is located is expected to have over One Million SF of retail when fully built out in 2022. Anchoring the property is Costco, which is one of two Costcos on the southside of Atlanta. The next location being 28 miles away, giving this location substantial pull in the trade area. Driving the growth is the affluent demographics in the area with household incomes over $130,000 annually. Jim 'N Nick's locations on average seat 215 people and typically produce $4M+ in annual sales. Jim 'N Nick's has adjusted operations to fast casual dining since COVID, this has increased operations and profitability according to corporate management and is the future direction of the company. The location is scheduled to open in March and has a full drive-thru lane for take out orders, which is a big part of Jim 'N Nick's business. The property is on a landlord-friendly ground lease structure, where the tenant is responsible for all taxes, insurance, common area maintenance, and repairs to the property.
Property highlights
- 16-Year corporate ground lease from Jim 'N Nick's BBQ - 15 Years Remaining
- Roark Capital recently acquired Jim ‘N Nick’s - Roark is a highly respected PE firm with a strong track record of investing in restaurant brands to position them for sustainable, long-term growth
- Excellent visibility on Hwy 54 - 41,500 VPD
- Scheduled 1.5% annual rent bumps
- Jim ‘N Nick’s named nation’s top BBQ chain by Daily Meal
- Strong growing demographics surrounding the site - $130,000+ HHI
- Surrounded by national retailers including: Costco, Sam's Club, NCG Cinemas, TJMaxx, Home Goods, Walmart, and Home Depot
- Jim ‘N Nick’s has 42+ locations and growing across the country - current on rent on all locations
- Corporate profitability has improved since COVID, as they've adapted their processes and increased their efficiencies