Listed by SWE Realty
$665,000
Reduced Price: Rare Waffle House NNN Ground Lease
Details
Property Type Retail
Sub Type QSR/Fast Food, Storefront
Square Footage 1,760
Net Rentable (SqFt) 1,760
Cap Rate 5.51%
NOI $36,637
Occupancy 100%
Tenancy Single
Brand/Tenant McDonald's, Chick-fil-A
Lease Type Absolute NNN
Lease Term 25
Lease Expiration 09/30/2028
Remaining Term 2.3
Rent Bumps Yes
Lease Options 7/5 Year Options
Pro-Forma Cap Rate 5.51%
Pro-Forma NOI $36,637
Price per SqFt $378
Broker Co-Op Yes
Class A
Year Built 2003
Acreage 0.5 - 1
Investment Type Net Lease
Tenant Credit Corporate Guarantee
Lease Commencement 10/01/2003
Ground Lease Yes
Ownership Ground Lease
Atlanta MSA | Long Term Occupancy
Marketing description
Long-term Waffle House tenant with strong fundamentals and NO landlord responsibilities under an absolute NNN ground lease
Rare opportunity to acquire an iconic, value-oriented brand at an attractive entry price with strong land value coverage
Prime corner location on Thornton Road with excellent visibility and full signalized access, driving strong daily traffic counts (40,000+ VPD)
Dense, affluent trade area with 46,000+ residents within 3 miles and average household income above $90,000, supporting sustained demand
Adjacent to a high-traffic QuikTrip and positioned with immediate access to I-20, reinforcing the site’s irreplaceable location
Investment highlights
NNN Ground Lease
Excellent Fundamentals
Corporate Tenant
Rare Opportunity
Listing Contacts
Listed by SWE Realty
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Loan Amount
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Annual Debt Service
$--
$--
Annual Cash Flow
$36,637.00
$3,053.08/mo
Valuation Metrics
0
DSCR
5.51%
Cap Rate
5.51%
ROI
Map
Zoning
C-H CommercialSpecial CommercialHeavy Commercial
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View all 479 uses Last updated May 14, 2026 For deeper zoning details, reports are available at Zoneomics
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