Whataburger Ground Lease
Closed9766 Hwy 92, Woodstock, GA 30188
Property type
Retail
Unit / Space count
1
Price
$3,536,585.3
Building size
3,700 sf
Rentable area
3,700 SF
Year built
2022
Year renovated
Occupancy
Zoning code
Lot size
0.99 Acres
Sold/status
Sold · Date unknown
Sale price
$3536585.3
CAP
4.10%
Net Operating Income
$145,000
Property description
Franklin Street is pleased to present this new construction Whataburger ground lease in Woodstock, Georgia. Woodstock is an affluent northern suburb of Atlanta, which is the fourth fastest growing metro in the country. The area is surrounded by affluent households with over $97,800 average household incomes within the 10 minute radius. This will be among the first new Whataburger openings in the state of Georgia, as they plan to rapidly expand across the Southeast. The site is located on a busy retail corridor with easy access to Atlanta’s major highways and interstates. The property is surrounded by other major QSR brands including Starbucks, Chick-fil-A, Chipotle, Popeyes, Arby’s, Captain D’s, Dairy Queen, among many others. Whataburger is a brand with more than 890 locations and was owned by the founding family until 2019 when they were acquired by BDT Capital Partners. BDT Capital Partners plans expansive growth for the Whataburger brand, which has a major presence in Texas with 700 locations in the state. The investment provides an investor an opportunity to acquire a long-term leased investment with a tenant that is ranked among the highest grossing QSRs per unit.
Property highlights
- New construction Whataburger ground lease in affluent northern Atlanta suburb
- 15-Year lease with scheduled rent increases every 5 Years
- Located next to newly expanded Chick-fil-A with double drive thru
- Excellent visibility: 44,400 VPD on Hwy 92
- Whataburger has 4th highest sales per unit average for QSRs: $3.2M per unit
- Whataburger’s sale to BDT Capital Partners has led to expansive growth plans for the Southeast
- Surrounded by major retailers bringing traffic to corridor including: Sam’s Club, BJ’s Warehouse, Lowe's, Target, Kohls, among many others
- Densely populated suburb: 233,000+ residents within 15-minute drive