Captain D’s Absolute NNN
For Sale
$794,311
475 W Pike St, Lawrenceville, GA 30046
Freestanding restaurant leased through June 30, 2029 with built-in annual rent increases and no landlord responsibilities.
Property Size2,520 SF
Lot Size0.52 Acres
Price / SF$315.20
Days on Market109
Property Features for 475 W Pike St
General Information
Standard status
Active
Size
2,520 SF
Lot size
0.52 Acres
Property subtype
Restaurant
Lease Type
Absolute Net
Additional Details
Cap Rate
6.75%
Traffic Count
39,400 vehicles/day
Amenities
Absolute NNN Lease – Zero landlord responsibilities; truly passive investment
Fee Simple Ownership – 100% ownership of land and building
Strong Traffic Exposure – Approximately 39,400 vehicles per day along nearby thoroughfares
Building Details
Building Size
2,520 SF
Buildings
1
Listing Agency:
Miami Office
(786) 522-7083
Listed By:
Roee E. Ben-Moshe · License #License(s): FL: BK3248800
(786) 522-7083
Source:
Marcusmillichap
Added: May 14
Changed: Aug 30
Last Checked: Aug 30 at 1:00PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Miami Office
Investment Insights
Based on property information with market context.
This freestanding Captain D’s restaurant occupies a 2,520-square-foot building on a 0.518-acre parcel. The property is leased under an absolute NNN structure, placing landlord responsibilities with the tenant. The current term extends through June 30, 2029, followed by four additional five-year renewal options. Contractual rent increases are set at 1.5% annually.
The property is located at 475 W Pike St in Lawrenceville, Georgia, within the Atlanta MSA. Nearby thoroughfares provide exposure to approximately 39,400 vehicles per day, and Northside Hospital Gwinnett is approximately one mile away. The site is described as having visibility and access, with surrounding retail activity and healthcare-related traffic noted in the property information.
The property is located at 475 W Pike St in Lawrenceville, Georgia, within the Atlanta MSA. Nearby thoroughfares provide exposure to approximately 39,400 vehicles per day, and Northside Hospital Gwinnett is approximately one mile away. The site is described as having visibility and access, with surrounding retail activity and healthcare-related traffic noted in the property information.
Key Highlights
- Absolute NNN lease structure with no landlord responsibilities
- 2,520‑square‑foot freestanding restaurant building
- 0.518‑acre parcel at 475 W Pike St, Lawrenceville, GA 30046
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$40,497
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.10%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$809,940
$809.9K
Cap Rate 7%
$578,529
$578.5K
Cap Rate 9%
$449,967
$450.0K
Market Conditions
NOI Build-Up for 2,520 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$58.1K $23.04/SF
− Vacancy
−$4.1K −$1.61/SF
EGI
$54.0K $21.43/SF
− OpEx
−$13.5K −$5.36/SF
NOI
$40.5K $16.07/SF
Area
Gwinnett County, GA
Vacancy
7.00%
Lease Rate
$23.04 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$809,940
Cap Rate 7%
$578,529
Cap Rate 9%
$449,967
Alternative Uses
Best Use
Specialty Retail
$578.5K
$506.2K – $675.0K
NOI $40,497 @ 7.0% cap · market cap 5.10%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$704.4K
$616.4K – $821.9K
NOI $49,311 @ 7.0% cap · market cap 6.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
39,400 VPD
Traffic count
Location Intelligence
Trade Area within ½ mile
2,110
Businesses Nearby
Explore this area
Business Placement
Demographics for 30046, GA
40,227
Population
14,356
Households
2.8
Avg Household Size
34
Median Age
26%
College-Educated
84%
High-School Grad
15.8 sq mi
ZIP Area
2,546
Density / Sq Mi
$63,379
Median Household Income
$36,962
Median Earnings
$1,488
Median Rent
$302,600
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
NNN property - Freestanding restaurant leased through June 30, 2029 with built-in annual rent increases and no landlord responsibilities.
Where is this nnn property located?
The property is located at 475 W Pike St Lawrenceville, GA.
What is the asking price?
The asking price for this property is $794,311.
What are key features of this property?
This property features: Absolute NNN lease structure with no landlord responsibilities; 2,520‑square‑foot freestanding restaurant building; 0.518‑acre parcel at 475 W Pike St, Lawrenceville, GA 30046
