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32745827
32745820

1585 Crater Lake Drive, Kennesaw, GA 30152 For Sale

CB
NC 287166
Berkeley Capital Advisors Charlotte
RF
NC 280948
Berkeley Capital Advisors Charlotte
Listed by Berkeley Capital Advisors Charlotte
$1,945,000
62 days on market
Updated 7 days ago

Dirty Dog's Car Wash | Ground Lease

Details
Property Type Retail
Square Footage 8,829
Cap Rate 7.25%
NOI $141,021
Occupancy 100%
Tenancy Single
Lease Type Absolute NNN
Lease Term 20
Lease Expiration 01/31/2036
Remaining Term 9.5
Rent Bumps Yes
Lease Options One, 10-Year
Price per SqFt $220
Broker Co-Op True
Year Built 2017
Buildings 1
Acreage 1.530
Zoning Commercial
Parking Spaces 15 spaces
Parking per 1,000 SqFt 1.70
Investment Type Net Lease
Tenant Credit Franchisee
Lease Commencement 02/01/2016
Ground Lease Yes

Absolute Net Ground Lease | Whole Foods Shopping Center

Investment highlights

• Absolute net ground lease | Zero landlord responsibilities

• Desirable lease term | 9.5 years remaining

• Experienced operator | New Car Wash, LLC | 11 locations with 6 more being built this year

• Outparcel to a Whole Foods Market | Ranked the #2 Whole Foods in GA via Placer.ai

• Close proximity to Town Kennesaw | New 395-unit apartment and townhome community | High-end, amenity-rich village delivers built-in consumer base and supports long-term tenant demand

• Adjacent to Overture Barrett & Ridenour Apartments | 415-units combined

• Located inside of dense retail corridor | 4.7M SF within a 2-mile radius

• Stable population growth within 3-miles | 18.71% from 2010-2025

• Attractive population density within a 5-mile radius | 176,795 residents

• Large industrial presence nearby | 10.7M SF of space within a 2-mile radius

• Affluent surrounding area | $126,568 average household income within a 3-mile radius

• 10 minutes from Wellstar Kennestone Regional Medical Center | 633 beds

• 10 minutes from Kennesaw State University | 51,375 students

• Within 10 from Kennesaw Mountain High School & Mount Paran Christian School | 3,000 students combined

• 5 minutes from Cobb County International Airport| 350 flights per day

• Nearby destination retailers | Walmart Supercenter, Target, Publix, Kroger, Whole Foods, Costco, Home Depot, Academy Sports + Outdoors, At Home, HomeGoods, Marshalls, Ashley Store, LongHorn Steakhouse, Outback Steakhouse, Texas Roadhouse, Olive Garden, Chick-fil-A, Starbucks, CAVA, Raising Cane’s, Zaxby’s, Culver’s, McDonald’s, Taco Bell, KFC, Panda Express, Subway, and more

Listing Contacts

CB
NC 287166
Berkeley Capital Advisors Charlotte
RF
NC 280948
Berkeley Capital Advisors Charlotte
Listed by Berkeley Capital Advisors Charlotte

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Loan Amount
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Annual Debt Service
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Annual Cash Flow
$141,021.00
$11,751.75/mo

Valuation Metrics

0
DSCR
7.25%
Cap Rate
7.25%
ROI

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