Discount Tire Ground Lease
Closed1741 Newnan Crossing Blvd, Newnan, GA 30265
Property type
Retail
Price
$2,500,000
CAP
5.10%
Building size
7,020 sf
Rentable area
7,020 SF
Year built
2025
Year renovated
Occupancy
Zoning code
Lot size
1.37 Acres
Sold/status
Sold · Date unknown
Sale price
$2500000
Net Operating Income
$127,500
Property description
Franklin Street is pleased to present this new 20-year ground leased Discount Tire in Newnan, Georgia. Newnan is a southern suburb of the Atlanta MSA, 40 miles from downtown Atlanta. Like much of the Atlanta MSA, Newnan has seen substantial growth over the last 10 years (18%) and more than 10% population growth expected over the next 5 years. Due to its convenient location along I-85 and proximity to Hartsfield Jackson International Airport, industries have flocked to the area and residents have followed due to the lower cost of living and strong education system. Discount Tire is the largest independent tire retailer in the world with close to 1,200 locations. They are the largest tire retailer in unit share (14%) and dollar share (15%), both significant leads over competitors. This location is located on the last remaining outparcel to one of the top performing Kroger locations in the state, and adjacent to other traffic generating retailers including Publix, McDonald's, Wells Fargo, Freddy's, Subway, Great Clips, Dollar Tree, among others.
Property highlights
- New Construction Discount Tire Ground Lease in the Atlanta MSA
- Rare Discount Tire Lease: Concept Owns 95%+ Of Their Real Estate
- Passive Absolute NNN Lease With 20-Year Lease Term Remaining
- Scheduled Rental Increases: 10% Every 5 Years
- Outparcel to Top Performing Kroger: Sales Projected Over $60M Annually
- Affluent Submarket with $113,000+ Household Incomes
- FREYR Battery Building $2.6B Factory Nearby Creating 720 New Jobs
- The Atlanta MSA is Now the 6th Largest With 6.3M Residents