**SOLD** 638 Highway 53 – Calhoun

Property Description

INVESTMENT HIGHLIGHTS:
Sales Price:  $1,350,000
Price/SF:  $562.50
NOI:  $94,380
Cap Rate:  7%
Tenant: Popeyes (Currently not in operation)
53 Year old brand
2,700+ Restaurants in the US and around the world
Franchisee: GPS Hospitality
Lease Type: Absolute NNN
Lease Term: 20 Year Lease
Commenced: 2015
Lease expiration: 06/30/2035
Annual Rent:
– 7/1/2025 – 6/30/2030: $94,380
– 7/1/2030 – 6/30/2035: $103,812
Renewal Option: One Five (5) Year Option with 10% rent escalations

Building Size:  2,400± SF Restaurant Building

Drive-thru with two ordering stations and pick-up window
Lot Size: 1.35 Acres  (210′ Frontage on SR 53)
One curb-cut near the center of site

32± parking spaces
Parcel:  C71-080
Roof Flat / TPO
HVAC Central heat and air conditioning
Electrical Single meter; 3Phase / 4Wire

High traffic location – 27,600± AVG VPD (2023 GDOT)
Located in major retail corridor less than 1/4 mile from Interstate 75, Exit 312
Same exit as Calhoun Premium Outlets consisting of 50+ stores
70 Miles north of Atlanta