1456 Newnan Xing E Blvd Newnan, GA 30265-1650

Property Details for 1456 Newnan Xing E Blvd

Year built

2021

Lot size

1.29 lot acres

Property size

3,098 SF

Zone code

ND

Property type

Drive through restaurants

APN

086 5021 010

APU

865021010

Description

This exceptional investment opportunity presents a 20-year absolute triple-net (NNN) lease for a Freddy's Frozen Custard & Steakburgers restaurant in Newnan, Georgia. Located within the Atlanta MSA, this property sits on a 1.01-acre lot in the $150 million Newnan Village Crossing development, a 125-acre multi-use project along I-85. The 2022-built, 100% occupied restaurant benefits from a strong tenant, JRI Hospitality, the largest Freddy's franchisee with over 80 locations. The lease includes 10% rent increases every five years, providing consistent growth potential. The property enjoys a prime location on a hard corner adjacent to a Kroger-anchored center, Summerlin Corners, and is surrounded by other major retailers including Publix, CVS, Walmart, Lowe's, and Home Depot. This high-traffic area boasts affluent demographics, with average household incomes nearing $100,000 and projected annual population growth of approximately 2.7% within a one-mile radius over the next five years. The asking price is $2,985,000, representing a 5.70% cap rate and a net operating income (NOI) of $170,000. The lease has a remaining term of 20 years with renewal options available in 4-5 year increments. This is a rare opportunity to acquire a high-performing, low-maintenance investment property in a thriving market.

Location Insight

City

Newnan

County

Coweta

State

Georgia

Longitude

-84.7548

Latitude

33.3781

CBSA code

12060

CBSA name

ATLANTA-SANDY SPRINGS-MARIETTA, GA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments