124 Highland XingEast Ellijay, GA 30540

Property Details for 124 Highland Xing

Year built

2010

Construction

CONCRETE

Lot size

1.07 AC

Property size (Sq ft)

2,046 SF

Zone code

C2

Property type

Other commercial real estate

APN

2067 106AM

APU

2067106AM

Description

This exceptional investment opportunity presents a newly constructed, 2,000 square foot Chipotle restaurant in East Ellijay, Georgia. Situated on a 1.07-acre lot at 124 Highland Crossing, this property boasts a 15-year absolute NNN lease with a corporate guarantee from Chipotle Mexican Grill, commencing December 15, 2024, and expiring December 31, 2039. The lease includes rent bumps, ensuring consistent income growth. The property benefits from a high-traffic location along State Route 515, exposing it to over 19,000 vehicles daily. Its proximity to major traffic generators, including local attractions and retail centers, guarantees a steady stream of customers. The strong local demographics, with an average household income of $91,618 within one mile, and a projected 12% growth by 2029, further enhance the investment's potential. The property's NOI is $175,000, resulting in a 5.00% cap rate, and the asking price is $3,500,000. This Chipotle location features a Chipotlane drive-thru, optimizing customer convenience and traffic flow. The property is strategically positioned near other national tenants, including Walmart, Lowe's, and Chick-fil-A, solidifying its position within a thriving retail environment. This is a compelling investment opportunity for those seeking a stable, long-term, passive income stream with a strong tenant and significant growth potential. The property is available for a 1031 exchange.

• Alternative Use

  Use

  Valuation

  Residential

  $495,318

  Hospitality

  $453,709

  Educational

  $377,481

  Medical

  $390,463

  Retail

  $587,192

Location Insight

City

Ellijay

County

Gilmer

State

Georgia

Latitude

34.6549

Longitude

-84.4931

Property Tax & Assessments

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