Heartland Dental | Jimmy John's | Vet
Closed3625 Browns Bridge Rd, Cumming, GA 30028
Property type
Retail
Price
$3,050,000
Building size
6,000 sf
Rentable area
6,000 SF
Year built
2020
Year renovated
Occupancy
Zoning code
Lot size
1.00 Acres
Sold/status
Sold · Date unknown
Sale price
$3050000
Net Operating Income
$197,625
Property description
Franklin Street is pleased to present this recently developed 6,000 SF outparcel strip center in Cumming, Georgia. Cumming is an affluent northern suburb in the Atlanta MSA near Lake Lanier, which attracts over 12 million annual visitors. The Atlanta market is one of the strongest and fastest growing in the country. In the most recent census the MSA's population topped 6M residents and grew 15% in the previous 10 years, which made it the 3rd fastest growing metro in the country. The property is occupied by national retailers Heartland Dental, Veterinary Urgent Care, and Jimmy John's, and sits in front of a new Walmart Supercenter. The retail node has experienced substantial growth over the last couple years and is soon to be getting a formal exit interchange off Hwy 400. New national retailers built within the last 2 years at this exit include: Aldi, Starbucks, Popeyes, QuikTrip, Tropical Smoothie, AT&T, Burger King, Murphy USA, Verizon, Domino's Pizza, among others. The access to the property is through a shared lighted intersection with the entrance to the Walmart off Browns Bridge Rd (22,400 VPD). Each tenant has initial lease terms of 10 years and offers a corporate guarantee from Heartland Dental. Jimmy John's is a franchised location, and they are adding a drive-thru pick-up lane to their space for mobile orders. Veterinary Urgent Care is a second location from a successful local veterinary and is investing heavily into their space.
Property highlights
- Recently constructed Walmart Supercenter outparcel with national tenant lineup: Heartland Dental, Jimmy John's, and Veterinary Urgent Care
- Strong hedge against inflation: Long-term leases with 10% rent increases every 5 Years and 3% annual bumps
- Rapidly growing area of Atlanta: Over 4.3% annual population growth in the surrounding area
- Outparcel to Walmart which generates over 1.3M visits annually
- Affluent submarket: over $131,981 household incomes within 15 minute drive of the property
- Proximity to Lake Lanier: the most popular U.S. Army Corps of Engineers lake in the nation and boasts a $5 billion annual economic impact on the area
- Ease of management: all 3 leases offer landlord-friendly NNN leases and there is no deferred maintenance
- Surrounded by National Retailers: Walmart, Guthrie's, AT&T, Aldi, QuikTrip, Starbucks, Burger King, Verizon, Tropical Smoothie, Popeye's, Take 5 Car Wash, and The Human Bean