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2102 Memorial DrWaycross, GA 31501
HWY 55 | Waycross, GA | 6.75% Cap
Asset ClassRetail
overview of deal

Overview

Address: 2102 Memorial Dr, Waycross, GA 31501

Tenant: Hwy 55 Burgers Shakes & Fries (Corporate Guarantee)

Price: $2,800,000

Cap Rate: 6.75%

Current NOI: $172,700

Rental Increases: 10% Every 5 Years

Term: 20 Years

Rent Commencement: 2/1/2024

Lease Expiration: 1/31/2044

Year Built: 2023

Building SF: ± 2,493 SF

Parcel Size: ± 1.17 Acres

Lease Type: Abs. NNN Lease - No Landlord Responsibilities

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Investment Highlights

Cap Rate
6.75%

Brand New Construction on Large Parcel

  • Brand new Hwy 55 Restaurant created using the chain’s newest prototype including a double drive-thru for a quick and convenient customer experience
  • Located adjacent to a recently contracted Popeye’s Louisiana Chicken

Proximity to Major Market Drivers

  • Within 1 mile and along the same corridor as Walmart SuperCenter, Lowe’s Home Improvement, Bealls Outlet, Hobby Lobby, Kroger, and The Mall at Waycross Shopping Center (Belk, TJ Maxx, Planet Fitness)
  • Less than 2 miles from Memorial Satilla Health, the primary medicaly center in Waycross with over 230 beds
  • Historic Downtown Waycross is under 2 miles away, serving as the central hub of Waycross and surrounded by most of the residential areas in the town

Corporate Guaranty from Rapidly Growing Tenant

  • Ranked as a top 500 franchise by Entrepreneur Magazine and as a ‘Next 20’ restaurant brand by Nation’s Restaurant News, Hwy 55 is quickly becom- ing one of the most exciting chains in the United States, growing from a local North Carolina restaurant to a national Chain, with locations in 11 states now
  • Multi-year winner of BurgerBusiness.com’s ‘Best Burger’ award

Premier Location Within Waycross, GA

  • The property is located along Memorial Drive, the primary retail corridor in Waycross, which realizes 27,000 ADT
  • Just over half a mile from the intersection with Hwy 82, the main connector between Interstate 75 and Brunswick, GA

Brunswick MSA

  • Brunswick, GA is located just an hour east, and is one of Georgia’s most visit- ed cities, serving as the hub for the state’s ‘Golden Isles:’ St Simons Island, Sea Island, and Jekyll Island
  • The Brunswick area hosts more than 3.4 million overnight visitors each year, with a $1.8 billion economic impact
2102 Memorial DrWaycross, GA 31501

Sales Team

Sam YoungExecutive Vice President, Capital Markets(980) 498-3292syoung@atlanticretail.com
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Listing provided by Revere CRE