1956 Broad St Athens, GA 30606-3542
- Turn key restaurants
- 8,011 SF
- 1.67 lot acres
Current Use by Public Records
- Yard Office for Car/Truck Donations / Corporate Office
- Red Lobster / Seafood Restaurant
Property Details for 1956 Broad St
- Year built
- 1973
- Construction
- STEEL FRAME
- Lot size
- 1.67 lot acres
- Property size
- 8,011 SF
- Zone code
- C-G
- Property type
- Turn key restaurants
- APN
- 12-2-C2 J-004-B
- APU
- 122C2J004B
Description
This exceptional investment opportunity presents a 7,236 square foot Red Lobster restaurant located at 1956 W Broad St, Athens, GA 30606. The property boasts a strong 6.00% cap rate and a substantial Net Operating Income (NOI) of $354,000. Secured by a corporate guarantee, this single-tenant, Net Lease (NNN) property offers significant financial security with zero landlord responsibilities. The 25-year lease, originally commencing July 31, 2014, has 14.7 years remaining, providing long-term stability. Built in 1973 and renovated in 2001, the property sits on a 1.79-acre lot zoned C-1. The lease includes 2% annual rent increases, offering built-in inflation protection. Four five-year lease options further enhance the investment's longevity. Situated in a high-traffic area with over 24,600 cars daily, this Red Lobster benefits from its prime location within a vibrant college town, serving a population of over 110,765 residents within a five-mile radius. The asking price is $5,900,000, translating to $815.37 per square foot. This is a rare opportunity to acquire a secure, high-performing investment property with significant long-term potential.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $5,400,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $4,955,000
- 6.5%
- $4,245,000
- 7%
- $4,765,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $4,545,000
- Geo Method
- $5,040,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $5,510,000
- Retail
- $5,060,000
- Mixed-Use
- $5,460,000
- Hospitality
- $5,495,000
- Educational
- $5,295,000
- Residential Income
- $4,050,000
- Energy
- $5,605,000
- Income-Based Land
- $4,555,000
- Food Service
- $5,545,000
Location Insight
- Map
- Local Demand
- City
- Athens
- County
- Clarke
- State
- Georgia
- Longitude
- -83.403
- Latitude
- 33.952
- CBSA code
- 12020
- CBSA name
- ATHENS-CLARKE COUNTY, GA METROPOLITAN STATISTICAL AREA
