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DOM: 360 Updated: 07.09.24 Posted: 04.25.23 Status: Sold 04.19.24

Summary

Price $4,350,000
Built/Renov 1975/2015
Tenant At Home
Cap Rate 8.44%
Lease Type NN+
Guarantor Corp Rated
Size/SF 108,046
Lease Start 02-01-2015
#Units 262
Price/SF $40.26
Expiration 01-31-2025
Tenant Type Big Box Retail
NOI $366,963
R. Term 0.3
Ownership Fee Simple
Rent/SF $3.40
Increases 10.0%/2/yrs
Pop 5Mi 112,577
Lot/AC 12.05
Options 2/5yrs/10%
AHHI 5Mi $84,475

Lease Highlights

  • At Home has been operating in this location since 2015
  • Tenant has less than 1 year remaining on the current lease term with 2 (5-year) options to extend
  • Lease features 10% rental increases every 5 years throughout the initial term and at each option period
  • Favorable NN+ lease with landlord responsibilities limited to roof and structure
  • Corporate guarantee by Hellman & Friedman

Location Description

At Home is strategically located along Watson Boulevard (Hwy 247C) with access to over 32,100 vehicles per day. The site is located along a dense retail corridor with national/credit tenants in the area including Kroger, Walmart, Walgreens, Lowes, Best Buy and many many more. Additionally, the tenant is within close proximity to the Houston County Galleria, a 455k+ shopping center with over 35...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

About Tenant

At Home Stores LLC, dba At Home, is an American chain of home decor stores. With an average footprint of 110,000 square feet, At Home offers up to 50,000 home products including furniture,...


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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 7,520 63,833 117,176
2023 Total Population : 7,438 62,646 113,833
2023 Employed Civilian Pop : 2,988 26,469 49,871
2023 Total Businesses : 308 2,197 2,980
2023 Average Household Income : $ 66,277 $ 74,441 $ 88,735
2023 Total Consumer Spending : $ 187 M $ 1656 M $ 3466 M
2023 Median Age : 37 36 36
2023 Total Households : 3,219 25,494 44,991
2023 Pop Age 25+: Bachelor's Degree : 1,015 6,029 13,264
2023 Average Home Value : $ 237,437 $ 243,517 $ 252,239
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Olympia Drive Peacock Dr 2021 840 0.20 mi
Watson Boulevard Knodishall Dr 2019 30,100 0.33 mi
Spruce St Pine Ter 2016 160 0.36 mi
Spruce Street Oak St 2018 160 0.43 mi
Spruce Street Oak St 2021 140 0.43 mi
Corder Road Busa Dr 2021 11,800 0.44 mi
Corder Road Skyway Dr 2019 13,000 0.44 mi
Skyway Drive Morningside Dr 2021 530 0.51 mi
Woodland Drive Pine Ter 2021 920 0.52 mi
Woodcrest Circle Louis St 2021 1,390 0.55 mi

Listing Broker

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