124 Highland S Xing Ellijay, GA 30540-2347
- Commercial real estate
- 2,046 SF
- 1.07 lot acres
Current Use by Public Records
- Commercial real estate
Property Details for 124 Highland S Xing
- Year built
- 2010
- Construction
- CONCRETE
- Lot size
- 1.07 lot acres
- Property size
- 2,046 SF
- Zone code
- C2
- Property type
- Commercial real estate
- APN
- 2067 106AM
- APU
- 2067106AM
Description
This exceptional investment opportunity presents a newly constructed, 2,000 square foot Chipotle restaurant in East Ellijay, Georgia. Situated on a 1.07-acre lot at 124 Highland Crossing, this property boasts a 15-year absolute NNN lease with a corporate guarantee from Chipotle Mexican Grill, commencing December 15, 2024, and expiring December 31, 2039. The lease includes rent bumps, ensuring consistent income growth. The property benefits from a high-traffic location along State Route 515, exposing it to over 19,000 vehicles daily. Its proximity to major traffic generators, including local attractions and retail centers, guarantees a steady stream of customers. The strong local demographics, with an average household income of $91,618 within one mile, and a projected 12% growth by 2029, further enhance the investment's potential. The property's NOI is $175,000, resulting in a 5.00% cap rate, and the asking price is $3,500,000. This Chipotle location features a Chipotlane drive-thru, optimizing customer convenience and traffic flow. The property is strategically positioned near other national tenants, including Walmart, Lowe's, and Chick-fil-A, solidifying its position within a thriving retail environment. This is a compelling investment opportunity for those seeking a stable, long-term, passive income stream with a strong tenant and significant growth potential. The property is available for a 1031 exchange.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $1,285,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $1,435,000
- 6.5%
- $1,375,000
- 7%
- $1,320,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $1,490,000
- Geo Method
- $1,390,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $1,155,000
- Retail
- $1,070,000
- Mixed-Use
- $1,100,000
- Hospitality
- $1,260,000
- Educational
- $1,370,000
- Residential Income
- $1,430,000
- Energy
- $1,125,000
- Income-Based Land
- $1,420,000
- Food Service
- $1,085,000
Location Insight
- Map
- Local Demand
- City
- Ellijay
- County
- Gilmer
- State
- Georgia
- Longitude
- -84.4931
- Latitude
- 34.6549
