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24242962
24242963

1005 Cobb Place Blvd NW, Kennesaw, GA 30144

CJ
GA 240674
Marcus & Millichap - Atlanta
Listed by Marcus & Millichap - Atlanta
$17,500,000
346 days on market
Updated 82 days ago

Governors Gun Club

Details
Property Type Special Purpose, Retail
Sub Type Sports/Entertainment
Square Footage 90,009
Net Rentable (SqFt) 90,009
Cap Rate 7.40%
NOI $1,296,000
Occupancy 100%
Tenancy Single
Lease Type NNN
Lease Term 15
Year Built 2017
Acreage 7.500
Tenant Credit Corporate Guarantee
Occupancy Date 10/01/2017

Special Purpose | 7.40% CAP | 90,009 SqFt

Marketing description

Governors Gun Club is a premier recreational firearm and entertainment venue in the Atlanta MSA. This NNN sale leaseback will be on a 15 year primary term with 5% increases every 5 years with three 5 year options. Located in Atlanta in Kennesaw, GA and less than a mile west of the I-75 interchange at Barrett Parkway, it has a five-mile population of 177,306 with an average household income of $105,852. This dense retail corridor is home to Costco, Home Depot, Walmart, Field & Stream, Whole Foods, Target, as well as a host of auto dealerships like Ford, Chevy, Nissan, Kia, and CarMax. This Class “A” facility can easily draw patrons from the entire metro Atlanta area.

In 2017 Governors took the indoor shooting concept to a new level with its facility in Kennesaw, Georgia offering the Nation's first indoor trap and skeet field. This new facility is over 90,009 sq.ft. and over 5 stories tall. Beyond the large retail area, the facility has 32 rifle rated lanes, archery fields, a three station 100 yard high power rifle range, situational firearm training simulator, member lockers, wine lockers, and a large event venue. The event area features a restaurant that seats 300 people and is served by a full- service bar. A second full-service bar is adjacent to a partially covered roof top patio and lounge area. Governors expects to announce future plans and new facilities as they begin to expand into several new markets.

Investment highlights

  • New 15 Year NNN Sale Leaseback With Increases In Dense Atlanta Market

  • This 90,009 SF Governors Gun Club Is A Premier Firearm & Entertainment Venue

  • The Retail Firearm And Hunting Market Does $2.2 Billion More In Annual Revenue Than Golf

  • Located Near The I-75 Interchange At Barrett Parkway And Has A Five-mile Population Of 177,306 With An Average Household Income Of $105,852.

Listing Contacts

CJ
GA 240674
Marcus & Millichap - Atlanta
Listed by Marcus & Millichap - Atlanta

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Loan Amount
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Annual Debt Service
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Annual Cash Flow
$1,296,000.00
$108,000.00/mo

Valuation Metrics

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DSCR
7.41%
Cap Rate
7.41%
ROI

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