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RaceTrac (Atlanta MSA)

1019 GA-20, McDonough, GA 30253

Listing Price: $5,723,743

Cap Rate
5.00%
Tenant Name
RaceTrace Petroleum, Inc.
Years Remaining On Lease
11.6
Guarantor
Corporate Guarantee
Rentable SF
1,223
Lease Type
Absolute Net
Rent Per Square Feet
$234.00

Investment Overview

LONG TERM CORPORATE LEASE There are approximately 11.75 years remaining on the initial lease term with 7.5% rent increases every 5-years, which continue through each of the seven, 5-year renewal option periods. The lease is absolute net, with no landlord maintenance responsbilities and comes with a corporate guarantee from RaceTrac Petroleum, Inc.. RaceTrac has been operating since 1934, which is an 87-year operating history. The Company now operates over 550 convenience store locations in Florida, Georgia, Louisiana, Tennessee, and Texas. RaceTrac generated $9.6 Billion in Revenue in 2021.2 OUTSTANDING RETAIL LOCATION RaceTrac is ideally located in a dense retail area across from Lowe’s and a Walmart Supercenter. A variety of national tenants serve customers from Interstate 75 and the surrounding area including Taco Bell, Starbucks, Applebee’s, KFC, McDonald’s, Take 5 Oil, Popeye’s, Cracker Barrel, Discount Tire, Zaxby’s, Best Western, Arby’s, Comfort Suites, Chickfil-A, Marriott, Vitalabs, Mattress Firm, Waffle House, and many others. STRATEGIC LOCATION ALONG HIGHWAY 20/81 WITH DIRECT ACCESS TO I-75 The Property is strategically located along Highway 20/81 with traffic counts of 24,200 VPD, and only 2 blocks from Interstate 75, with traffic counts of 139,000 VPD. Interstate 75 connects directly to downtown Atlanta to the north and runs throughout Florida to the south ending in Miami. FAVORABLE DEMOGRAPHICS The Property offers favorable demographics for the region with an average household income of $70,324 within a one-mile radius that increases to $99,400 within a three-mile radius. STRONG POTENTIAL TAX ADVANTAGE | 100% BONUS DEPRECIATION IN YEAR 1 The estimated bonus depreciation in Year 1 for the Subject Property is $3,400,000. Please see the IRS Circular 230 Disclosure below. Current rules allow investors to immediately write off 100% of the improvement value in Year 1 if certain requirements are met, and the property is placed in service after September 27, 2017. This went into effect after the Tax Cuts and Jobs Act when bonus depreciation was raised to 100% through the end of 2022. ATLANTA MSA LOCATION Located in McDonough, 28 miles southeast of downtown Atlanta, the site benefits from its proximity to the economic hub of the Southeast. The region has a population of roughly 6.0 million people and over the next five years is expected to add approximately 288,000 residents. Atlanta ranks as one of the nation’s top markets for Fortune 500 companies. UPS, Delta Airlines, Coca-Cola, and Home Depot represent a portion of the 16 companies with headquarters in the metro.

Investment Highlights

  • LONG TERM CORPORATE LEASE
  • OUTSTANDING RETAIL LOCATION
  • STRATEGIC LOCATION ALONG HIGHWAY 20/81 WITH DIRECT ACCESS TO I-75
  • FAVORABLE DEMOGRAPHICS
  • STRONG POTENTIAL TAX ADVANTAGE | 100% BONUS DEPRECIATION IN YEAR 1
  • ATLANTA MSA LOCATION

Exclusively Listed By

Broker of Record

  • John M. Leonard

    First Vice President/Regional Manager

    (678) 808-2700

    License(s) GA: 252904

    Georgia

Auto Service - Gas-Conv

RaceTrac (Atlanta MSA)

Listing Price: $5,723,743

Cap Rate
5.00%
Tenant Name
RaceTrace Petroleum, Inc.
Years Remaining On Lease
11.6
Guarantor
Corporate Guarantee
Rentable SF
1,223
Lease Type
Absolute Net
Rent Per Square Feet
$234.00

Investment Highlights

  • LONG TERM CORPORATE LEASE
  • OUTSTANDING RETAIL LOCATION
  • STRATEGIC LOCATION ALONG HIGHWAY 20/81 WITH DIRECT ACCESS TO I-75
  • FAVORABLE DEMOGRAPHICS
  • STRONG POTENTIAL TAX ADVANTAGE | 100% BONUS DEPRECIATION IN YEAR 1
  • ATLANTA MSA LOCATION

Investment Overview

LONG TERM CORPORATE LEASE There are approximately 11.75 years remaining on the initial lease term with 7.5% rent increases every 5-years, which continue through each of the seven, 5-year renewal option periods. The lease is absolute net, with no landlord maintenance responsbilities and comes with a corporate guarantee from RaceTrac Petroleum, Inc.. RaceTrac has been operating since 1934, which is an 87-year operating history. The Company now operates over 550 convenience store locations in Florida, Georgia, Louisiana, Tennessee, and Texas. RaceTrac generated $9.6 Billion in Revenue in 2021.2 OUTSTANDING RETAIL LOCATION RaceTrac is ideally located in a dense retail area across from Lowe’s and a Walmart Supercenter. A variety of national tenants serve customers from Interstate 75 and the surrounding area including Taco Bell, Starbucks, Applebee’s, KFC, McDonald’s, Take 5 Oil, Popeye’s, Cracker Barrel, Discount Tire, Zaxby’s, Best Western, Arby’s, Comfort Suites, Chickfil-A, Marriott, Vitalabs, Mattress Firm, Waffle House, and many others. STRATEGIC LOCATION ALONG HIGHWAY 20/81 WITH DIRECT ACCESS TO I-75 The Property is strategically located along Highway 20/81 with traffic counts of 24,200 VPD, and only 2 blocks from Interstate 75, with traffic counts of 139,000 VPD. Interstate 75 connects directly to downtown Atlanta to the north and runs throughout Florida to the south ending in Miami. FAVORABLE DEMOGRAPHICS The Property offers favorable demographics for the region with an average household income of $70,324 within a one-mile radius that increases to $99,400 within a three-mile radius. STRONG POTENTIAL TAX ADVANTAGE | 100% BONUS DEPRECIATION IN YEAR 1 The estimated bonus depreciation in Year 1 for the Subject Property is $3,400,000. Please see the IRS Circular 230 Disclosure below. Current rules allow investors to immediately write off 100% of the improvement value in Year 1 if certain requirements are met, and the property is placed in service after September 27, 2017. This went into effect after the Tax Cuts and Jobs Act when bonus depreciation was raised to 100% through the end of 2022. ATLANTA MSA LOCATION Located in McDonough, 28 miles southeast of downtown Atlanta, the site benefits from its proximity to the economic hub of the Southeast. The region has a population of roughly 6.0 million people and over the next five years is expected to add approximately 288,000 residents. Atlanta ranks as one of the nation’s top markets for Fortune 500 companies. UPS, Delta Airlines, Coca-Cola, and Home Depot represent a portion of the 16 companies with headquarters in the metro.

Exclusively Listed By

Broker of Record

  • John M. Leonard

    First Vice President/Regional Manager

    (678) 808-2700

    License(s): GA: 252904

    Georgia

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