For Sale
$945,046

1555 Lakeview DrHiawassee, GA 30582

Young Harris, GA: Strong 6.5% Cap Rate

Overview

Added:
Dec 11, 2024
Days on market:
116
This exceptional investment opportunity presents a fee-simple interest in a 5,000 square foot Sherwin-Williams store in Young Harris, Georgia. Located at 1555 Lakeview Dr, this Class A, single-tenant retail property boasts a 24-year net lease with a credit-rated corporate guarantee from Sherwin-Williams (NYSE:SHW). The current lease, commencing May 21, 2007, and expiring April 30, 2031, has seven years remaining on the primary term, followed by thirteen five-year renewal options, each with an 8% rent escalation. The property sits on a 0.79-acre lot and benefits from a strong location on US Highway 76, a major thoroughfare with high daily traffic volume. The property's 100% occupancy since May 21, 2007, and consistent rent increases provide a stable and growing net operating income (NOI) of $61,428, yielding a 6.5% cap rate. The asking price is $945,046, translating to $189.01 per square foot. This investment offers a compelling combination of strong tenant credit, long-term lease security, and significant upside potential through built-in rent escalations, making it an attractive addition to any portfolio. The property is zoned commercial and was renovated in 2007. The favorable location in Young Harris, a popular vacation destination on Lake Chatuge, further enhances its investment appeal. This is a truly exceptional opportunity to acquire a high-quality, net-leased property with a proven track record of success.

Highlights

  • Fee-simple ownership of a 5,000 SF Sherwin-Williams (NYSE: SHW) store in Young Harris, GA.
  • 24-year net lease with seven years remaining, plus thirteen 5-year renewal options, each with an 8% rent increase.
  • Located on 0.79 acres at 1555 Lakeview Dr, US Highway 76, a high-traffic area.
  • $945,046 asking price ($189.01/SF), 6.5% cap rate, $61,428 annual NOI.
  • Strong location in a popular vacation destination near Lake Chatuge, with over 10,400 residents and 4,800 employees within a 5-mile radius.

Property Details for 1555 Lakeview Dr

Property type
Retail properties, Retail space
Square Feet
5,000 SF
Class
A
Year Renovated
2007
Stories
1
Lot Size (sq. ft)
34,412 SF

Location Insight

City
Hiawassee
County
Towns
State
Georgia
Latitude
34.9711097
Longitude
-83.8230633
1555 Lakeview Dr, Hiawassee, Georgia

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?
Please email our support team at [email protected] and they will add the team member.
How do I access a private listing?
Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
How do I unsubscribe from emails?
At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].
1555 Lakeview Dr
Thanks! Your message was sent.
Error! Your message wasn't sent.
Please enter your first name
Please enter your last name
Please enter email
Please enter the email in the correct format
Please enter phone
Please enter the number in the correct format
Select size
Please enter message