Roses Express
Closed732 S Jefferson St, Nashville, GA 31639
Property type
Retail
Unit / Space count
1
Price
$800,000
Building size
25,615 sf
Rentable area
25,615 SF
Year built
2007
Year renovated
Occupancy
100%
APN
N12-4-001
Zoning code
Commercial
Lot size
2.12 Acres
CAP
7.87%
Price per Unit
$800,000
Price per SF
$31.23
Net Operating Income
$62,969
Property description
Franklin Street is pleased to present this single-tenant Roses Express location in Nashville, Georgia. Nashville is centrally positioned within the state of Georgia, making it conveniently accessible to several nearby areas including Tifton, Valdosta, and Waycross. It is approximately 70 miles northeast of Tallahassee, Florida, the state capital of Florida. Additionally, Valdosta, Georgia, a larger city with a range of amenities, is located around 30 miles southeast of Nashville. Roses Express initially signed a 5-year lease in 2017 and then exercised their 5-year extension option in 2022. With below market rents, Roses has strong incentive to remain at this location for the rest of the term and possibly beyond. They have a very healthy rent to sales ratio of 4.3% further solidifying the chances they remain here long term. Furthermore, with a substantial four-year remaining term, there is ample opportunity to strategically explore potential re-development avenues while continuing to generate rental income. The property encompasses an expansive 2+ acre parcel, presenting a multitude of enticing possibilities for retail redevelopments, including options such as Quick-Service Restaurants (QSRs), Carwash facilities, and Gas Station/Convenience Store combinations. Roses Express is a discount store with locations across 15 states primarily across the South.
Property highlights
- Corporate-Backed Lease- Roses Express has 175+ Locations throughout the Southeast
- Strong Store Sales - Tenant Reported Sales at $1.8M for 2022
- Percentage Rent Possibility - Sales Resulting in Percentage Rent Equivalent to 4% of Total Sales Over $1.925M for the Year
- Below Market Rent - Strong Incentive for the Tenant to Remain at this Location
- Redevelopment Opportunity - Property Sits on 2+ Acre Lot; Presents a Redevelopment/Value-Add Play for Prospective Purchaser
- Large Guarantor- Roses Express Reported Revenue of $1.5B in 2022