603 M.l.k. Jr Dr Cartersville, GA 30121
- Retail properties
- 2,695 SF
- 1.20 lot acres
Current Use by Public Records
- Retail properties
Property Details for 603 M.l.k. Jr Dr
- Year built
- 2019
- Lot size
- 1.20 lot acres
- Property size
- 2,695 SF
- Property type
- Retail properties
- Property subtype
- Restaurants
Description
This exceptional investment opportunity presents a fee-simple ownership of a freestanding Popeyes restaurant in Cartersville, Georgia, within the Atlanta MSA. Built in 2019, the 2,695 square foot building sits on a 1.2-acre lot and is currently operating under a long-term, absolute NNN lease with the Popeyes brand. The lease, expiring July 31, 2034, provides a remaining term of 10 years, with four 5-year renewal options. Crucially, the lease includes a 10% rent increase every five years throughout both the primary term and option periods, ensuring consistent income growth. The property boasts a strong Net Operating Income (NOI) of $163,758, resulting in a compelling 6.60% cap rate. Located at a busy signalized intersection and hard corner on a major thoroughfare, the property benefits from exceptional visibility and accessibility, with traffic counts exceeding 41,000 vehicles daily. The surrounding area features a dense concentration of national retailers, including Target, Walmart, McDonald's, and many others, indicating a thriving retail environment. Cartersville's projected 5% population growth over the next five years further strengthens the long-term investment potential. This is a rare opportunity to acquire a low-maintenance, high-return investment with minimal landlord responsibilities in a rapidly growing market. The property's Class A designation and 100% occupancy underscore its quality and stability.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Cartersville
- County
- Bartow
- State
- Georgia
- Longitude
- -84.7855
- Latitude
- 34.1763
