1770 Scenic N Hwy Snellville, GA 30078-2134
- Drive through restaurants
- 3,332 SF
- 1.35 lot acres
Current Use by Public Records
- Drive through restaurants
Property Details for 1770 Scenic N Hwy
- Year built
- 2016
- Construction
- WOOD
- Lot size
- 1.35 lot acres
- Property size
- 3,332 SF
- Zone code
- BG-GENERAL BUSINESS
- Property type
- Drive through restaurants
- APN
- 5-056 -367
- APU
- 5056367
Description
This exceptional investment opportunity presents a fee simple interest (ground lease) in a 3,332 square foot Freddy's Frozen Custard & Steakburgers restaurant located at 1770 Scenic Hwy N, Snellville, GA 30078. The property sits on a 1.35-acre lot and boasts a 5.40% cap rate with a current NOI of $164,890. The absolute NNN ground lease features a 15-year term commencing August 1, 2016, and expiring July 31, 2031, with 6.7 years remaining and three 5-year options to extend. The lease includes 10% rent bumps every five years and at the beginning of each option period, providing built-in rent growth and inflation protection. The tenant, a franchisee of JRI Hospitality, is the largest Freddy's franchisee, operating over 80 restaurants across 15 states. This prime location is situated on a signalized, hard corner intersection of Scenic Highway North and Tree Lane, averaging 57,400 vehicles daily. The property benefits from a dense retail corridor with strong tenant synergy, including nearby national retailers such as Chipotle, Outback, Zaxby's, McDonald's, Kroger, Home Depot, Target, Best Buy, Ross, Lowe's, and Walmart. The 5-mile trade area boasts over 195,000 residents and 43,000 employees, with an affluent average household income exceeding $130,000 within a 1-mile radius. The property offers a management-free investment opportunity with zero landlord responsibilities, as the tenant covers all CAM, taxes, and insurance. This is an ideal investment for a passive investor seeking strong returns and long-term stability. The asking price is $3,050,000, representing a price per square foot of $915.37. Built in 2016, the property enjoys 100% occupancy.
Value Estimations
-
AI approach
- Method
- Estimation
- ML approach
- $520,000
-
Comparable approach
- Method
- Estimation
- AI Estimate
- $717,000
Market price range: $301k - $718k
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Location Insight
- Map
- Local Demand
- City
- Snellville
- County
- Gwinnett
- State
- Georgia
- Longitude
- -84.0112
- Latitude
- 33.8795
- CBSA code
- 12060
- CBSA name
- ATLANTA-SANDY SPRINGS-MARIETTA, GA METROPOLITAN STATISTICAL AREA
