1509 Lafayette PkwyLaGrange, GA 30241

Property Details for 1509 Lafayette Pkwy

Lot size

1.37 AC

Zone code

16- CR-MX

Property type

Commercial land

APN

0393B001006A

APU

0393B001006A

Description

This exceptional investment opportunity presents a ground lease for a Sonic Drive-In restaurant located at 1509 Lafayette Pkwy, LaGrange, GA 30241. The property boasts a 1,227 square foot building constructed in 2022 on a 0.84-acre lot. The absolute NNN lease with a corporate guarantee provides significant security, featuring a remaining term of 17.6 years with four (4) five (5) year options. Rent increases by 10% every five years, ensuring consistent income growth. The property benefits from a prime location in a bustling retail corridor, with high visibility from Lafayette Pkwy (approximately 24,000 vehicles per day) and proximity to I-85 (approximately 38,000 vehicles per day), only 0.5 miles away. The site is an outparcel to LaGrange Mall, benefiting from an estimated 1.8 million annual visits. The strong demographics of the area, including a $79,000 average household income and a population of 61,000 residents, further enhance the investment's appeal. This is the only Sonic within a 20-mile radius, serving a large and underserved market. The property's Net Operating Income (NOI) is $95,625, resulting in a 5.25% cap rate, and the asking price is $1,821,428 ($1,484.46 per square foot). The lease commenced on June 2, 2022, and expires on June 30, 2042. This is a rare opportunity to acquire a high-performing, long-term ground lease in a desirable location with significant upside potential. The property is situated within the Georgia International Business Park, a 10,000-acre development with thousands of employees.

• Alternative Use

  Use

  Valuation

  Residential

  $36,319,460

  Hospitality

  $33,268,428

  Educational

  $27,678,942

  Medical

  $28,630,864

  Retail

  $43,056,132

Location Insight

City

Lagrange

County

Troup

State

Georgia

CBSA code

29300

CBSA name

LAGRANGE, GA-AL MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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