Add Listing
    For Sale
    • For Sale
    • For Lease
    • Sold
    • Property Lookup
    • Brokers
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    36 Merchants Ave Blairsville, GA

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Drive-in restaurant with a long-term lease and rental increases.

    Type:RETAIL
    Property size:
    1,246 SF
    Lot size:
    2.53 Acres
    Added:
    Dec 5, 2024
    Days on Market:
    511
    Last Refresh:
    Apr 5 at 11:12 pm

    Property Features for 36 Merchants Ave

    General Information

    Standard status
    Active
    Size
    1,246 SF
    Lot size
    2.53 Acres
    Property subtype
    RETAIL

    We can help!

    Listing Contact
    Patrick Nutt

    Listing agent Patrick Nutt

    Listing office SRS Real Estate Partners | Fort Lauderdale

    Listing date Dec 5, 2024

    Source Moodyscre

    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 SRS Real Estate Partners | Fort Lauderdale

    Overview

    Blairsville Drive-In Restaurant For Sale

    This property is a drive-in restaurant. The tenant has a brand new 20-year lease with 4 (5-year) options, demonstrating a long-term commitment to the site. The lease features 10% rental increases every five years throughout the initial term and at the beginning of each option. The property is occupied by Sonic, founded in 1953, which is the largest drive-in restaurant brand in the United States with more than 3,524 restaurants in 47 states. The property is located at 36 Merchants Ave, Blairsville, GA and has a property size of 1246 square feet.
    Location Intelligence

    Current Use by Public Records

    Drive through restaurants

    Map

    City
    Blairsville
    County
    Union
    State
    Georgia
    Longitude
    -83.9582
    Latitude
    34.8762

    Nearby Similar for Sale

    • $395,000
      1,600 SF

      Iconic Country Store in Blairsville

      Charming, established business in a high-traffic tourist area.
      50 Pappys Plaza, Blairsville, GA 30512
      View Details
    • $1,450,000
      12,900 SF

      Downtown Blairsville Investment Opportunity

      Fully occupied commercial property with seven established tenants in Blairsville.
      19 Cobalt Street, Blairsville, GA 30512
      View Details
    • $169,000

      Established Restaurant in Blairsville, GA

      Successful Cuban and Puerto Rican restaurant in North Georgia Mountains.
      51 D & E Earnest Street, Blairsville, GA 30512
      View Details
    • $1,650,000
      176,854 SF

      Misty Mountain Lodge & Cabins

      North Georgia lodge and cabins with expansion potential.
      55 Misty Mountain Lane, Blairsville, GA 30512
      View Details
    • $159,900

      Creekfront RV Retreat with Outdoor Kitchen

      Meticulously maintained RV getaway with exceptional outdoor living.
      209 Cedar Mtn Trout Farm, Blairsville, GA 30512
      View Details
    • $2,999,000

      Highway Car Wash For Sale

      Operating car wash on Highway 515 with prime commercial property.
      692 E Highway 515, BLAIRSVILLE, GA 30512
      View Details
    • $2,000
      2,000 SF

      Blairsville Commercial Space For Lease

      2000 sqft commercial space available for lease in Blairsville, GA.
      226 Gainesville Hwy, Blairsville, GA 30512
      View Details
    • $1,200
      1,000 SF

      Blairsville Commercial Space For Lease

      Commercial rental space with open floor plan in Blairsville.
      226 Gainesville Hwy, Blairsville, GA 30512
      View Details
    • $448,000
      1,450 SF

      Riverfront Property with Renovated Structure

      Flexible riverfront property with renovated structure ready for immediate use.
      4494 Gainesville Hwy, Blairsville, GA 30512
      View Details
    • $119,999

      Rivers Edge RV Park Lot

      RV lot with pond view in Rivers Edge RV Park.
      254 Vista Circle, Blairsville, GA 30512
      View Details
    • $400

      Office Space in Blairsville, GA

      Commercial office space for rent with included utilities.
      226 Gainesville Hwy, Blairsville, GA 30512
      View Details
    • $69,900

      Blairsville RV Lot with Storage

      RV lot with storage barn in Rivers Edge RV Park.
      496 Vista Circle, Blairsville, GA 30512
      View Details

    FAQs

    What type of property is this?
    Drive through restaurant - Drive-in restaurant with a long-term lease and rental increases.
    Where is this drive through restaurant located?
    The property is located at 36 Merchants Ave Blairsville, GA.
    What are key features of this property?
    This property features: Brand new 20‑year lease with 4 (5‑year) options.; 10% rental increases every five years throughout the initial term and at the beginning of each option.; Sonic is the largest drive‑in restaurant brand in the United States.
    (954) 703-3600 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Patrick Nutt
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!