1555 Lakeview Dr Hiawassee, GA 30582

Property Details for 1555 Lakeview Dr

Lot size

0.79 lot acres

Property size

5,000 SF

Property type

Retail properties

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.