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28706631
28706632

601 Atlanta Rd, Cumming, GA 30040

CB
GA GA 248342
CBRE - Atlanta
TC
GA 374849
CBRE Atlanta
BP
GA 349355
CBRE - Atlanta
Listed by CBRE - Atlanta, CBRE Atlanta
$4,376,400
187 days on market
Updated 95 days ago

Chase Bank: Cumming, GA

Details
Property Type Retail
Sub Type Bank
Square Footage 3,782
Net Rentable (SqFt) 3,782
Units 1
Cap Rate 4.65%
NOI $203,500
Occupancy 100%
Tenancy Single
Brand/Tenant Chase Bank
Lease Type NNN
Lease Expiration 09/30/2040
Remaining Term 14.3
Rent Bumps Yes
Lease Options Four, 5-year
Price per SqFt $1,157
Year Built 1999
Year Renovated 2020
Buildings 1
Stories 1
Acreage 0.930
Parking Spaces 31 spaces
Parking Per SqFt 8.20
Investment Type Net Lease
Ground Lease Yes

Retail | 4.65% CAP | 3,782 SqFt

Marketing description

CBRE is pleased to exclusively offer for sale the 3,782 square-foot Chase Bank situated on 0.93 acres in Cumming, GA - a component of the broader Atlanta MSA (population: 6.4M). Chase Bank’s NNN ground lease features ±14.6 years of term remaining with a 10% rent increase every 5 years throughout the term and in each of the four, 5-year renewal options.

Investment highlights

EXCELLENT ACCESS & VISIBILITY

Located approximately 33 miles north of downtown Atlanta, Chase is located on a hard corner at the signalized intersection of Veterans Memorial Boulevard / State Road 20 (31,400 VPD) and Atlanta Road / State Road 9 (13,000 VPD), just feet from access to GA 400 (86,700 VPD) which provides direct connectivity to Atlanta.

STRATEGIC LOCATION

Chase Bank is immediately adjacent to Tires Plus. The other corners of the intersection are home to the ±128,000 SF Lanier Crossing Shopping Center (Hobby Lobby, Subway, Sherwin-Williams, KFC, Dunkin’, Plato’s Closet, Bragg Dental, Dragon Buffet), ±302,000 SF Lakeland Plaza (Sprouts Farmers Market, LA Fitness, Belk, Bealls, Mina’s Hallmark, Uptown Cheapskate, Texas Roadhouse, Applebee’s Grill + Bar, Whataburger, Panera, Sally Beauty), and ±165,000 SF Cumming 400 Shopping Center (Publix, AutoZone, Harbor Freight, Dollar Tree, Bank of America, Cracker Barrel, Wendy’s, Arby’s, Burger King)—which drive substantial traffic towards the site.

BUSTLING RETAIL & COMMERCIAL CORRIDOR | 5.7 MSF OF RETAIL WITHIN 3-MILE RADIUS

Chase is within a mile from several prominent shopping centers, including ±172,000 SF Merchant’s Square (Planet Fitness, Stars & Strikes), 700,000+ SF Cumming Marketplace (Walmart Supercenter, The Home Depot, Lowe’s Home Improvement, PetSmart, Marshalls, Dollar Tree, Michaels, OfficeMax, LongHorn Steakhouse, Starbucks, IHOP, Verizon, 88-room Holiday Inn Express, Chili’s Grill & Bar), and 311,000 SF Cumming Town Center (TJ Maxx & HomeGoods, Best Buy, Petco, Five Below, Kirkland’s Home, Ulta, Old Navy, Burlington). Additional major retailers include Target, Kohl’s, BJ’s Wholesale Club, Goodwill, McDonald’s, Waffle House, Captain D’s, Taco Bell, and Chick-fil-A. In total, the site benefits from 5.7 MSF of retail, 2.7 MSF of office, 4.3 MSF of industrial and 3,021 multifamily units within a 3-mile radius. Chase is also less than a mile from the 407-bed Northside Hospital - Forsyth, one of Cumming’s largest employers.

AFFLUENT DEMOGRAPHIC PROFILE | BUILT-IN CUSTOMER BASE

Chase benefits from its position within an affluent trade area with a population of 46,174 and an average household income of $147,920 within a 3-mile radius.

The robust retail development, presence of a major employer, and proximity to over 2,700 households contribute to an substantial daytime population of 16,700+ within a 1-mile radius, placing a built-in customer base immediately around the site.

Listing Contacts

CB
GA GA 248342
CBRE - Atlanta
TC
GA 374849
CBRE Atlanta
BP
GA 349355
CBRE - Atlanta
Listed by CBRE - Atlanta, CBRE Atlanta

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Loan Amount
$0.00
Annual Debt Service
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Annual Cash Flow
$203,500.00
$16,958.33/mo

Valuation Metrics

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DSCR
4.65%
Cap Rate
4.65%
ROI

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Additional Information

Name
Chris Bosworth
License
GA 248342
Name
Thomas Carr
License
374849
Brokerage Phone
703-477-1315
Title
GA
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