515 Historic 441 Hwy Cornelia, GA 30531
- Retail properties
- 3,052 SF
- 1.57 lot acres
Current Use by Public Records
- Retail properties
Property Details for 515 Historic 441 Hwy
- Lot size
- 1.57 lot acres
- Property size
- 3,052 SF
- Property type
- Retail properties
- Property subtype
- Restaurants
Description
This exceptional investment opportunity presents a freestanding Hardee's restaurant in Cornelia, Georgia. The property boasts a 3,052 square foot building situated on a 1.57-acre lot with 30 parking spaces. The property is zoned HI and features a long-term, absolute triple-net (NNN) lease with a corporate guarantee from a subsidiary of CKE Restaurants Holdings, minimizing landlord responsibilities. The lease commenced February 1, 2017, and expires August 31, 2037, with four 5-year renewal options. The lease includes scheduled 10% rent increases every five years, starting in 2022. The current net operating income (NOI) is $125,130, representing a 5.82% cap rate on the asking price of $2,150,000 ($704.46 per square foot). The property enjoys a prime location in a high-traffic area with significant consumer traffic and visibility. The tenant, operating since February 1, 2017, demonstrates a strong commitment to the location. This is a passive investment opportunity with a stable, nationally recognized tenant and built-in rent growth. The property's location within a primary retail and restaurant corridor, combined with its strong tenant and lease terms, makes it an attractive investment. The approximately 122,013 cars per day passing the property, along with the approximately 123,975 people living within a five-mile radius, further highlight the property's strategic location and potential for continued success.
Value Estimation
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CAP approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Cornelia
- County
- Habersham
- State
- Georgia
- Longitude
- -83.5458
- Latitude
- 34.5435
