1398 Boone Ave
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1398 Boone Ave
2,250 SF Retail Building Kingsland, GA 31548 $3,455,513 CAD ($1,536 CAD/SF) 6.01% Cap Rate
Investment Highlights
- Top 7% in the Nation - Placer.AI
- Outparcel to Winn-Dixie and Lowe's, and Located Near Kings Bay Naval Submarine Base
- 10% Rent Increase Every Five Years Including Options
- Corporate Guarantee and Five Years Remaining Lease with Six Five-Year Options
- 16% Population Growth Since 2010 Within a One-Mile Radius
- Built in 2019 with Large Outside Patio
Executive Summary
Marcus & Millichap is pleased offer for sale, a Starbucks in Kingsland, Georgia. The subject property was built in 2019, as a state-of-the-art prototype, on an outparcel to Winn Dixie and Lowe’s Home Improvement - both situated on the highly traveled King Ave, with 27,000 vehicles per day. Interstate 95 is just three-quarters of a mile from the subject property with 56,000 vehicles per day. Starbucks is located on a major thoroughfare near numerous other national retailers including Chick-Fil-A, McDonald’s, KFC, Taco Bell, CVS, Applebee’s, Ruby Tuesday, Dunkin Donuts, Walmart Supercenter, and more.
The subject property draws over 370,000 annual visits and ranks top 7 percent in the nation and in Georgia, according to Placer.AI. Starbucks signed a corporate lease with an initial 10-year term, and no early termination clause. The lease includes 10 percent rent increases every five years and there are six five-year option periods.
Kingsland, Georgia, is home to the Kings Bay Naval Submarine Base, and borders with Florida just five miles south, and is just 15 miles from the Atlantic Ocean. It is one of the best places to live in Georgia according to Niche.com.
This Starbucks presents a great opportunity for an investor to acquire a national credit tenant and an extremely well-performing store in a dense retail location.
The subject property draws over 370,000 annual visits and ranks top 7 percent in the nation and in Georgia, according to Placer.AI. Starbucks signed a corporate lease with an initial 10-year term, and no early termination clause. The lease includes 10 percent rent increases every five years and there are six five-year option periods.
Kingsland, Georgia, is home to the Kings Bay Naval Submarine Base, and borders with Florida just five miles south, and is just 15 miles from the Atlantic Ocean. It is one of the best places to live in Georgia according to Niche.com.
This Starbucks presents a great opportunity for an investor to acquire a national credit tenant and an extremely well-performing store in a dense retail location.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Freestanding
Building Size
2,250 SF
Building Class
B
Year Built
2019
Price
$3,455,513 CAD
Price Per SF
$1,536 CAD
Cap Rate
6.01%
NOI
$207,570 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.07
Land Acres
0.75 AC
Zoning
COMMERCIAL
Frontage
Nearby Major Retailers
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William Kim -
Marcus & Millichap
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1398 Boone Ave
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