1888 Grayson Hwy Grayson, GA 30017-1248

Property Details for 1888 Grayson Hwy

Year built

1961

Lot size

0.20 lot acres

Property size

1,118 SF

Zone code

C2-GENERAL BUSINESS

Property type

Commercial real estate

APN

5-136 -011B

APU

5136011B

Description

This exceptional investment opportunity presents a 15-year absolute NNN ground lease for a Whataburger restaurant located at 1888 Grayson Hwy, Grayson, GA 30017. The property boasts a prime location along State Route 20/Grayson Highway, a high-traffic area with 31,799 average annual daily traffic (AADT). Its strategic position connecting Interstate 85 and U.S. Route 78 ensures significant commuter traffic, further enhanced by a combined AADT of 135,900. The 3,751 square foot building, constructed in 2024, sits on a 1.2-acre lot within Clark Lake Village, a thriving residential community with 136 homes and numerous retail establishments including Starbucks, Chipotle, and Panda Express. This location benefits from its proximity to major retailers such as Walmart, Target, Home Depot, Lowe's, Sam's Club, and more, creating substantial crossover shopping opportunities. The property's strong tenant, Whataburger, is backed by a corporate guarantee, providing financial security. The lease commenced November 1, 2024, and expires October 31, 2039, with built-in rent bumps. The current Net Operating Income (NOI) is $149,000, resulting in a 5.00% cap rate. The asking price is $2,980,000. The affluent surrounding area, with an average annual household income exceeding $163,291 within a one-mile radius and a population of 179,944 within five miles (a 30% increase since 2010), ensures a large and reliable customer base. Projected population and income growth within the next five years further solidifies this investment's long-term potential. This is a 1031 exchange eligible property.