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30903446
30903447

118 S Morningside Dr, Cartersville, GA 30120

RH
SC 131554
Horvath & Tremblay
Listed by Horvath & Tremblay
$3,925,000
79 days on market
Updated 6 days ago

Caliber Collision

Details
Property Type Industrial, Retail
Sub Type Auto Shop, QSR/Fast Food
Square Footage 23,844
Net Rentable (SqFt) 23,844
Cap Rate 6.29%
NOI $246,794
Occupancy 100%
Tenancy Single
Brand/Tenant AutoZone, Tractor Supply (+5)
Lease Type NNN
Lease Term 10
Lease Expiration 12/31/2031
Remaining Term 5.6
Rent Bumps Yes
Lease Options 2, 5- Year Options
Pro-Forma Cap Rate 6.41%
Pro-Forma NOI $251,730
Price per SqFt $165
Broker Co-Op Yes
Class A
Year Built 2018
Year Renovated 2018
Buildings 3
Stories 1
Acreage 2.870
Investment Type Net Lease
Tenant Credit Credit Rated, Corporate Guarantee
Lease Commencement 12/18/2021
Ownership Fee Simple
Sale Condition 1031 exchange

Low Rent Caliber Collision | Atlanta MSA

Marketing description

Horvath & Tremblay is pleased to present the exclusive opportunity to purchase the single tenant Caliber Collision investment property located at 118 Morningside Drive and 13 & 17 Forest Lane in Cartersville, Georgia (the “Property”). The Property consists of a 23,844 square foot building on 2.87 acres of land, comprised of three adjacent parcels. Caliber Collision uses 13 & 17 Forrest Lane for additional vehicle parking and vehicle storage. The building was constructed in 2018 with Caliber Collision beginning a brand-new, 10-year lease in December 2021. There are currently over 5 years of term remaining on the Modified NN Lease followed by two (2), 5-year renewal options. The lease features attractive 2% annual rental increases throughout the primary lease term and the option periods.

The Property is situated on Morningside Drive, which runs directly next to US Route 41, the area’s primary commercial and commuter corridor. Morningside Drive has access to US Route 41 immediately in front of the Property, which benefits from excellent frontage and visibility on both roadways, as well as three total points of entry. Caliber Collision is positioned within Cartersville’s primary retail trade area, with numerous shopping centers, grocers, and national retailers in the vicinity that drive consumer traffic. The Property is just half a mile from downtown Cartersville and is a short drive to Interstate 75, which along with US Route 41 leads directly to Atlanta. Cartersville is in the northwestern edge of the Atlanta MSA, approximately 35 miles from Downtown Atlanta.

Listing Contacts

RH
SC 131554
Horvath & Tremblay
Listed by Horvath & Tremblay

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Loan Amount
$0.00
Annual Debt Service
$--
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Annual Cash Flow
$246,794.00
$20,566.17/mo

Valuation Metrics

0
DSCR
6.29%
Cap Rate
6.29%
ROI

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