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Shopping Strip

Auction - Verizon & Jimmy John's | Super Target Shadow | Double Digit Cap Rate (Leasehold Interest)

121 Lauren Ln, Woodstock, GA 30189

Listing Price: $500,000

Gross SF
5,680
Rentable SF
5,680
Price/Gross SF
$88.03
Lot Size
0.97 acres
Year Built
2005

Investment Overview

Register to Bid and Access Due Diligence Documents on RealINSIGHT Marketplace - https://rimarketplace.com/auction/2011/

Marcus & Millichap and RI Marketplace are pleased to offer for sale the leasehold interest in Verizon & Jimmy John’s (the “Property”), a ±5,680 SF shopping center located at 121 Lauren Lane in Woodstock, Georgia approximately 30 miles north of Atlanta. The Property provides the exceptional opportunity to acquire a highly desirable investment property at a significant discount to replacement cost.

The Property consists of two, single story buildings built in 2005 situated on approximately 0.97 acres. Currently ±100% occupied by Verizon and Jimmy John’s, the Property offers stable income from two strong national tenants in a dense retail market, with both tenants renewing their leases recently in 2023. The first building has been leased to Verizon corporate for 18+ years. The second building has a drive thru and has been leased to a Jimmy John’s franchisee with multiple locations for 12+ years. The Property is located at the signalized entrance to Super Target with other nearby retailers including Home Depot, Lowe’s, BJ's, Five Below, Kohl’s, Planet Fitness. The ground lease was structured as a 50-year leasehold interest with an initial term of 15 years with (7) 5-year renewal options.

Located in Cherokee County, Woodstock enjoys a strategic location just 30 miles north of Atlanta, providing convenient access to the economic hub of the region. The city's proximity to major transportation routes, including Interstate 575 and State Route 92, further enhances its connectivity and accessibility. Despite its close proximity to Atlanta, Woodstock maintains its distinct identity as a vibrant and rapidly growing community. The city offers a diverse mix of residential neighborhoods, retail centers, office parks, and industrial areas, reflecting its dynamic economy and evolving urban landscape. The Property offers a central location on Highway 92 (±37K VPD) and just 0.5-miles from Interstate 575 with over 106,000 vehicles per day. As of 2023, the Property’s demographics have ±187,351 individuals residing within a 5-mile radius, with an average household income of ±$103,878. The Property is located within a high growth area with population growth of 19.53% from 2010-2023 and an anticipated 4.32% growth expected from 2023-2028 within five miles of the Property.

Investment Highlights

  • STARTING BID $500,000 | Double Digit Cap Rate (Leasehold Interest) | AUCTION JUNE 24-26, 2024
  • 100% Leased to 2 National Tenants in 2 separate buildings at Signalized Entrance of Super Target
  • Corporate Verizon Lease & Jimmy John's Franchisee with Multiple Locations and 2023 Lease Renewals
  • 18-Year Operating History for Verizon | 12-Year Operating History as Jimmy John's with Drive Thru
  • ±37,000 VPD Traffic Counts on Highway 92 and Minutes from I-575 with ±106K VPD Traffic
  • Nearby Retail: Super Target, Home Depot, Lowe's, BJ's, Five Below, Kohl's, Planet Fitness and More
  • 5-Mile Population of ±187,351 with Annual Household Income of ±$103,878
  • ±31 Years Remaining of Land Control Via the Existing Ground Lease

Exclusively Listed By

  • Robby Pfeiffer

    Senior Managing Director Investments

    (678) 808-2770

    Email Robby

    License(s): GA: 281335, AL: 000091407-1

    Atlanta

Financing By

Shopping Strip

Auction - Verizon & Jimmy John's | Super Target Shadow | Double Digit Cap Rate (Leasehold Interest)

Listing Price: $500,000

Gross SF
5,680
Rentable SF
5,680
Price/Gross SF
$88.03
Lot Size
0.97 acres
Year Built
2005

Investment Highlights

  • STARTING BID $500,000 | Double Digit Cap Rate (Leasehold Interest) | AUCTION JUNE 24-26, 2024
  • 100% Leased to 2 National Tenants in 2 separate buildings at Signalized Entrance of Super Target
  • Corporate Verizon Lease & Jimmy John's Franchisee with Multiple Locations and 2023 Lease Renewals
  • 18-Year Operating History for Verizon | 12-Year Operating History as Jimmy John's with Drive Thru
  • ±37,000 VPD Traffic Counts on Highway 92 and Minutes from I-575 with ±106K VPD Traffic
  • Nearby Retail: Super Target, Home Depot, Lowe's, BJ's, Five Below, Kohl's, Planet Fitness and More
  • 5-Mile Population of ±187,351 with Annual Household Income of ±$103,878
  • ±31 Years Remaining of Land Control Via the Existing Ground Lease

Investment Overview

Register to Bid and Access Due Diligence Documents on RealINSIGHT Marketplace - https://rimarketplace.com/auction/2011/ Marcus & Millichap and RI Marketplace are pleased to offer for sale the leasehold interest in Verizon & Jimmy John’s (the “Property”), a ±5,680 SF shopping center located at 121 Lauren Lane in Woodstock, Georgia approximately 30 miles north of Atlanta. The Property provides the exceptional opportunity to acquire a highly desirable investment property at a significant discount to replacement cost. The Property consists of two, single story buildings built in 2005 situated on approximately 0.97 acres. Currently ±100% occupied by Verizon and Jimmy John’s, the Property offers stable income from two strong national tenants in a dense retail market, with both tenants renewing their leases recently in 2023. The first building has been leased to Verizon corporate for 18+ years. The second building has a drive thru and has been leased to a Jimmy John’s franchisee with multiple locations for 12+ years. The Property is located at the signalized entrance to Super Target with other nearby retailers including Home Depot, Lowe’s, BJ's, Five Below, Kohl’s, Planet Fitness. The ground lease was structured as a 50-year leasehold interest with an initial term of 15 years with (7) 5-year renewal options. Located in Cherokee County, Woodstock enjoys a strategic location just 30 miles north of Atlanta, providing convenient access to the economic hub of the region. The city's proximity to major transportation routes, including Interstate 575 and State Route 92, further enhances its connectivity and accessibility. Despite its close proximity to Atlanta, Woodstock maintains its distinct identity as a vibrant and rapidly growing community. The city offers a diverse mix of residential neighborhoods, retail centers, office parks, and industrial areas, reflecting its dynamic economy and evolving urban landscape. The Property offers a central location on Highway 92 (±37K VPD) and just 0.5-miles from Interstate 575 with over 106,000 vehicles per day. As of 2023, the Property’s demographics have ±187,351 individuals residing within a 5-mile radius, with an average household income of ±$103,878. The Property is located within a high growth area with population growth of 19.53% from 2010-2023 and an anticipated 4.32% growth expected from 2023-2028 within five miles of the Property.

Exclusively Listed By

  • Robby Pfeiffer

    Senior Managing Director Investments

    (678) 808-2770

    Email Robby

    License(s): GA: 281335, AL: 000091407-1

    Atlanta

Financing By

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