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Updated: 01.17.24 Posted: 09.30.23 Status: Sold

Summary

Price $4,957,000
Built/Renov 2023
Tenant Miller's Ale House
Cap Rate 5.75%
Lease Type Abs NNN
Guarantor Corporate
Size/SF 7,300
Lease Start 10-01-2023
#Units 103
Price/SF $679.04
Expiration 09-30-2035
Tenant Type Casual Dining
NOI $285,000
R. Term 10.4
Ownership Fee Simple
Rent/SF $39.04
Increases 2.0%/1/yrs
Pop 5Mi 65,257
Lot/AC 1.77
Options 4/5yrs/2%
AHHI 5Mi $123,131

Lease Highlights

  • Brand new 2023 construction
  • Miller’s Ale House recently signed a brand new 12-year lease with 4 (5-year) options to extend
  • Lease features 2% annual rental increases
  • Absolute NNN | Zero landlord responsibilities
  • Corporate guaranteed lease

Location Description

Miller’s Ale House is strategically located at the signalized intersection of Lower Fayetteville Road and Highway 34 with access to 34,600 vehicles per day. The site benefits from its location within a brand new shopping center anchored by Publix Super Market, Floor and Decor and Piedmont Healthcare with multiple points of ingress/egress. Additionally, the site is adjacent to the only Costco...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Miller's Ale House
  • Guarantor:Corporate
  • Company:Roark Capital
  • # Units:103
  • Stock:Private

About Tenant

Miller’s Ale House is an American restaurant and sports bar chain which serves steaks, chicken,burgers, salads, seafood, and similar items. Miller’s is known for it’s famous buttermilk-drenched,...


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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 874 25,998 68,722
2023 Total Population : 825 25,289 66,711
2023 Employed Civilian Pop : 467 13,026 33,583
2023 Total Businesses : 29 1,008 2,610
2023 Average Household Income : $ 142,499 $ 146,323 $ 140,505
2023 Total Consumer Spending : $ 33 M $ 1176 M $ 2944 M
2023 Median Age : 42 41 42
2023 Total Households : 273 9,521 24,767
2023 Pop Age 25+: Bachelor's Degree : 210 6,622 15,470
2023 Average Home Value : $ 329,365 $ 390,825 $ 376,087
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Fischer Road Fayetteville Rd 2021 4,610 0.21 mi
AL 68 Fischer Rd 2019 7,540 0.32 mi
US 411 Fischer Rd 2019 34,600 0.33 mi
Fischer Rd Wynns Pond Rd 2010 7,524 0.48 mi
GA 54 Fischer Rd 2021 11,000 0.61 mi
US 411 Hwy 54 2019 41,500 0.69 mi
GA 54 Shoal Creek Dr 2021 41,300 0.69 mi
Lower Fayetteville Road Lower Fayetteville Rd 2021 4,400 0.91 mi
Lower Fayetteville Rd The Ridge Ct 2019 4,340 0.91 mi
Floy Farr Parkway Wynnmeade Pkwy 2021 45,600 1.11 mi

Listing Broker

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