1555 Lakeview Dr, Hiawassee, GA 30582
- Retail properties & Spaces
- 5,000 SF
- 0.79 lot acres
Current Use by Public Records
- Retail properties & Spaces
Property Details for 1555 Lakeview Dr
- Lot size
- 0.79 lot acres
- Property type
- Retail properties & Spaces
- Property subtype
- Retail space
Description
This exceptional investment opportunity presents a fee-simple interest in a 5,000 square foot Sherwin-Williams store in Young Harris, Georgia. Located at 1555 Lakeview Dr, this Class A, single-tenant retail property boasts a 24-year net lease with a credit-rated corporate guarantee from Sherwin-Williams (NYSE:SHW). The current lease, commencing May 21, 2007, and expiring April 30, 2031, has seven years remaining on the primary term, followed by thirteen five-year renewal options, each with an 8% rent escalation. The property sits on a 0.79-acre lot and benefits from a strong location on US Highway 76, a major thoroughfare with high daily traffic volume. The property's 100% occupancy since May 21, 2007, and consistent rent increases provide a stable and growing net operating income (NOI) of $61,428, yielding a 6.5% cap rate. The asking price is $945,046, translating to $189.01 per square foot. This investment offers a compelling combination of strong tenant credit, long-term lease security, and significant upside potential through built-in rent escalations, making it an attractive addition to any portfolio. The property is zoned commercial and was renovated in 2007. The favorable location in Young Harris, a popular vacation destination on Lake Chatuge, further enhances its investment appeal. This is a truly exceptional opportunity to acquire a high-quality, net-leased property with a proven track record of success.
Value Estimations
-
AI approach
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Hiawassee
- County
- Towns
- State
- Georgia
- Longitude
- -83.8231
- Latitude
- 34.9711
