2470 Shorter AveRome, GA 30165

Property Details for 2470 Shorter Ave

Year built

1994

Lot size

0.58 AC

Property size (Sq ft)

1,566 SF

Property type

Retail properties

Description

This exceptional investment opportunity presents a fee-simple ownership of a Sonic Drive-In restaurant located at 2470 Shorter Ave, Rome, GA 30165. The property boasts 1,566 square feet on a 0.58-acre lot, built in 1994 and renovated in 2020. Currently operating under a 20-year triple-net (NNN) lease, commenced May 23, 2022, and expiring May 31, 2042, this lease offers significant remaining term of approximately 17.5 years. The franchisee tenant provides a strong, stable income stream with an annual net operating income (NOI) of $109,204. The lease includes attractive annual rent bumps of 1.50%, ensuring consistent growth in rental income. The asking price is $1,617,837, representing a compelling cap rate of 6.75% and a price per square foot of $1,033.10. The property benefits from its location in a dense retail corridor, surrounded by major national brands including Walmart, Lowe's, Chick-fil-A, and many others, ensuring high visibility and strong traffic counts exceeding 25,600 vehicles daily on Shorter Ave NW and 15,000 on Redmond Circle. This is a low-maintenance, high-return investment ideal for passive income seekers. 100% occupancy guarantees immediate cash flow.

Location Insight

City

Rome

County

Floyd

State

Georgia

Latitude

34.2724

Longitude

-85.2382

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