100% Fully Leased Investment: Restaurant Building in Cornelia, GA
515 Historic 441 Hwy
Cornelia, GA 30531
Highlights
- Fully Leased Investment w/ Long Term Tenant
- Absolute-Net Lease w/ Zero Landlord Responsibility
- Strong Tenant Guaranty | 10% Bumps Every 5 Yrs
- Leased Thru 11/30/2035 + Four 5-Year Options
- $2.24M Average Annual Net Sales for 40 Locations
- 30 Private Parking Stalls on ±1.57 Acres
- Superior Location w/ Limited Competition | Strategic Trade Area
- Located In The Primary Retail/Restaurant Corridor In The Area
- Excellent Location, Great Tenant Mix, High Traffic Flows
- ±23,975 People Living Within A Five Mile Radius Of The Property
- Unmatched Level of Consumer Traffic & High Volume Exposure
- Optimal Visibility w/ ±22,013 Cars Per Day
Description
100% Leased Investment Opportunity: Prime Historic 441 Highway location in Cornelia, Georgia offering ±3,052 SF of restaurant space on ±1.57 acres. This outstanding opportunity offers investors a long term (10 years) lease through November 2035 with four (4), five (5) year options to renew & fixed ten percent (10%) rent increases every five years during the primary lease term & options. The lease is absolute NNN with no landlord responsibilities making it an ideal, management-free investment opportunity for a passive investor. The site features a state-of-the-art, newly constructed building with modern amenities and design, with a major tenant commitment to the location, having built the restaurant at tenant’s own expense.
Tenant Information: Huey Magoo’s is a fast-casual concept founded in 2004 by Matt Armstrong and Thad Hudgens, two southern boys with a passion for quality chicken and a penchant for serving others. Now, former executives from one of the fastest-growing franchise chains, Wingstop, have partnered with the founders from Huey Magoo’s. Both partners have taken their similar passion and bullseye focus for the perfect chicken tender by crafting it into everything that Huey Magoo’s offers today.
Waiver of ROFR: TT has 10 business days to respond to an LOI.
The property is located on Old Historic U.S. 441, just off US-441 S. U.S Highway 441 Business is the main thoroughfare that runs thru Cornelia that connects you to U.S Highway 441 that brings you to Atlanta, GA. The retail area has been continuously expanding, thus drawing strong retailers to the area and new development. The property is strategically located in a dense retail corridor benefiting from its proximity to major national and local tenants. Major national and local tenants in the area include: Bojangles, Domino's Pizza, Lowes, Waffle House, Starbucks, Papa Johns Pizza, Burger King, Subway, Walmart, Chick-fil-A, and many more! Old Historic U.S. 441 has ±22,013 vehicles per day. US-441 S brings an additional ±28,172 vehicles per day to the area.
