Pearle Vision
Closed10775 Alpharetta Hwy, Roswell, GA 30076
Property type
Retail
Unit / Space count
1
Price
N/A
Building size
2,450 sf
Rentable area
2,450 SF
Year built
1980
Year renovated
Occupancy
Zoning code
Lot size
0.30 Acres
Sold/status
Sold · Date unknown
CAP
6.68%
Net Operating Income
$93,100
Property description
Franklin Street is pleased to present this single-tenant Pearle Vision location in Roswell, Georgia. Roswell is an affluent northern suburb of Atlanta. Roswell is known as one of the safest cities in Georgia and has excellent access to major commuter roads leading to the metropolitan's economic hubs. Pearle Vision is one of the largest optical retailers in North America, with more than 500 EyeCare Centers across the United States and Canada, many owned and operated locally by franchise owners. This store has been at this location for more than 40 years and has consistently been one of the top performers in the chain. It is operated by the largest franchisee within the system. The property has been well maintained and has been operated and owned by the same franchisee for 40 years until the recent sale to Pearle Vision's largest franchisee. Pearle Vision operates on a triple-net lease and reimburses the landlord for CAM, taxes, and insurance. The lease offers a strong hedge against inflation with one and a half percent bumps the first 5 years and three percent annual bumps throughout the remainder of the initial lease term. The site is located on one of the main thoroughfares for Roswell and is surrounded by national traffic-generating retailers including: Sprouts, Walmart, Floor & Decor, Goodwill, Marshalls, Planet Fitness, and TJMaxx.
Property highlights
- New 10-Year Pearle Vision in Atlanta MSA
- Strong tenant commitment: 40-year operating history at this location
- One of the top-performing stores in the Pearle Vision chain
- Operated by Pearle Vision's largest franchisee with 72 units
- Pearle Vision operates 500+ locations in the US and Canada
- Annual rental increases throughout the term
- Excellent visibility on Alpharetta Hwy: 30,800 VPD
- Located in one of Atlanta's most affluent suburbs: $150,000 HHI within 10 min drive
- Densely populated area: 190,000 residents within 5 miles of the property