For Sale
$1,300,000

618 Shorter AveRome, GA 30165

High-return QSR investment. 5+ years remaining.

Overview

Added:
Dec 11, 2024
Days on market:
115
This exceptional investment opportunity presents a 1,865 square foot Church's Chicken restaurant located at 618 Shorter Ave, Rome, GA 30165. The property sits on a 0.53-acre lot and boasts a strong 8.68% cap rate, generating a net operating income (NOI) of $112,860. The absolute NNN lease, with a corporate guarantee from High Bluff Capital, provides significant security and minimal landlord responsibilities. The lease commenced on November 9, 2014, with a 15-year term and 1.15% annual rent bumps. Currently, there are 5 years remaining on the lease, expiring November 9, 2029. Built in 2014, this well-maintained property benefits from a prime location on Shorter Avenue, experiencing a high volume of 30,800 vehicles per day. The strong demographics, including a population exceeding 56,000 within a 5-mile radius and proximity to Berry College (2,000+ enrollment), further enhance its investment appeal. Church's Chicken, a globally recognized brand with over 1,500 locations, has a proven track record of success. This offering presents a rare chance to acquire a below-replacement-cost asset with a secure, long-term lease and substantial upside potential. The property has been 100% occupied since November 10, 2014.

Highlights

  • $1,300,000 asking price for a Church's Chicken net lease property.
  • Absolute NNN lease with no landlord expenses.
  • 1,865 square foot building on a 0.53-acre lot, built in 2014, currently 100% occupied.
  • Corporate guaranteed lease with 5 years remaining, expiring November 9, 2029, including 1.15% annual rent bumps.
  • 8.68% cap rate with a current NOI of $112,860.

Property Details for 618 Shorter Ave

Property type
Retail properties, Restaurants
Square Feet
1,865 SF
Year Built
2014
Lot Size (sq. ft)
23,087 SF

Location Insight

City
Rome
County
Floyd
State
Georgia
Latitude
34.2660354
Longitude
-85.2009388
618 Shorter Ave, Rome, Georgia

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618 Shorter Ave
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