3319 Altama AveBrunswick, GA 31520

Property Details for 3319 Altama Ave

Year built

1995

Lot size

0.27 AC

Property size (Sq ft)

1,708 SF

Property type

Retail properties

Property subtype

Other retail properties

Description

This exceptional investment opportunity presents a fee-simple ownership of a 1,708 square foot Popeyes restaurant located at 3319 Altama Ave, Brunswick, GA 31520. The property boasts a brand new 20-year absolute NNN lease, commencing May 31, 2024, and expiring May 30, 2044, with a remaining term of 19.5 years. The lease includes four 5-year renewal options, each with a 10% rent increase. Rent bumps of 10% are also built in every 5 years, starting May 1, 2029. The property features a 6.00% cap rate and a strong net operating income (NOI) of $105,047. The asking price is $1,750,783, translating to a price per square foot of $1,025.05. Built in 1995 and renovated in 2014, this single-unit building sits on a 0.27-acre lot and enjoys 100% occupancy. The tenant, a Popeyes franchisee guaranteed by Sailormen Inc., one of the largest Popeyes operators, demonstrates a significant commitment to the location with over 30 years of operating history in the area. The property benefits from its strategic location in a dense retail corridor, near a major hospital, schools, and apartments, ensuring high customer traffic. The corner location at a busy intersection boasts a combined traffic count of 30,000 vehicles per day. This is a rare opportunity to acquire a stable, high-performing investment with significant long-term growth potential.

Location Insight

City

Brunswick

County

Glynn

State

Georgia

Latitude

31.1779

Longitude

-81.4905

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