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DriveTime NNN Lease Investment Opportunity 4295 Jonesboro Rd

3,060 SF Retail Building Union City, GA 30291 $8,596,421 CAD ($2,809 CAD/SF) 6.40% Cap Rate

Investment Highlights

  • Located in Union City (Atlanta MSA), is a strong NNN tenant on a 15-year lease with 7+ years remaining and rare annual rent increases of 1.5%
  • Placer.ai ranks this location in the Top 30% of all DriveTime locations (approximately 144) nationwide with consistently favorable store volume report
  • Interior remodeling and expansion recently completed with the addition of approximately 500 SF of showroom space
  • Off Interstate 85, this large ±4.72-acre parcel is situated in a busy auto corridor featuring 10 major auto dealerships with traffic counts of 27k
  • Their unique business niche offers quality used vehicles, one stop financing and extended warranties, all under the DriveTime umbrella
  • Anticipated robust growth of the used car market with 7.3% compounded growth between 2025 and 2033

Executive Summary

DriveTime, located in Union City, GA just south of Hartsfield-Jackson Atlanta International Airport, is an exceptional single tenant NNN property to add to your portfolio. Located less than ½ mile from Interstate 85 (over 153K VPD), DriveTime sits on nearly 5 acres on a busy retail auto sales corridor on Jonesboro Road, (Hwy 138) with traffic counts of over 26K vehicles per day. This 15-year, true NNN, corporate guaranteed lease, with no landlord responsibilities, has a remaining initial lease term through January 31, 2032. It also features annual rent increases of 1.5% and three renewal options.
DriveTime just completed an expansion of the ±3,060 SF office/showroom and a total interior renovation. Their business model as a dealership is to offer one stop sales, financing and extended warranties to customers of late model used cars. They are one of the largest national used car dealers with approximately 144 locations in 30 states. Placer.ai ranks this DriveTime 43rd nationwide in volume and customer visits and in the top 30% of DriveTime locations. This busy S. Fulton County auto sales corridor has over 10 major brands within a half mile including Ford, Audi, Volkswagen, Kia, BMW, Nissan, Chevrolet, Honda, Toyota, Lexus, Chrysler Dodge Jeep Ram Fiat, and Land Rover dealerships along with Caliber Collision and Classic Collision.
Union City is one of the fastest growing metro Atlanta areas with a 5 mile population of 119,758 and an average household income of $87,305. They have experienced growth of over 22% between 2020 and 2022. In anticipation of continued population growth and industry projections of used vehicle sales growth of 7.3% annually thru 2033, DriveTime appears to be at the right place at the right time.
DriveTime is privately held and headquartered in Tempe, AZ. They also own subsidiary, Bridgecrest Acceptance Corporation, their financing division and SilverRock Automotive, their auto warranty division whose major clients include both DriveTime and Carvana. They employ over 3100 and have an estimated annual revenue of $1.5B. This DriveTime location is corporate owned and operated.

Property Facts

Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Auto Dealership
Building Size
3,060 SF
Building Class
B
Year Built
2012
Price
$8,596,421 CAD
Price Per SF
$2,809 CAD
Cap Rate
6.40%
NOI
$550,171 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.01
Lot Size
4.72 AC
Parking
373 Spaces (10 Spaces per 1,000 SF Leased)

Amenities

  • Signage

Nearby Major Retailers

Chase Bank
Kroger
Waffle House
Planet Fitness
Truist
Aldi
PNC Bank
IHOP
Steak ‘n Shake
Bank of America

PROPERTY TAXES

PROPERTY TAXES

Parcel Numbers
Multiple
  • 09F-1501-0062-034-1
  • 09F-1501-0062-035-8
Land Assessment
$781,769 CAD
Improvements Assessment
$194,747 CAD
Total Assessment
$976,516 CAD
  • Listing ID: 34383264

  • Date on Market: 2025-01-06

  • Last Updated:

  • Address: 4295 Jonesboro Rd, Union City, GA 30291

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