Business And Property Business for sale in Ellijay, GA
Shane’s Rib Shack Net-Lease | Ellijay, GA
Offer Price
$2,250,000
Business and Property
About this property
Shane’s Rib Shack Net-Lease | Ellijay, GA
River Brokers is pleased to present the opportunity to acquire a freestanding, single-tenant restaurant property leased to Shane’s Rib Shack corporate at a 6% cap rate!
The 4,284-square-foot building is situated on +/- 1.29 acres in the established Highland Crossing retail corridor, with visibility from Highway 515. The property was constructed in 2005 and Shane’s Rib Shack has operated at the location since 2008.
Offering Summary
Asking Price: $2,250,000
Scheduled Cap Rate: 6%
Current Annualized Base Rent: $133,712
Tenant DBA: Shane’s Rib Shack
Lease Expiration: January 2033
Renewal Options: Two additional five-year options
Rent Increases: 2% annually in base term and option periods
Building Size: 4,284 square feet
Site Area: +/- 1.29 acres
Year Built: 2005
Investment Highlights
Long-term restaurant lease extending through January 2033, with two additional five-year renewal options.
Contractual 2% annual increases lift annualized base rent to approximately $150,582 by the final scheduled step.
Tenant is responsible for real estate taxes, property insurance, utilities and most repair and maintenance expenses.
Percentage rent of 5% above a $1.8 million annual gross-sales breakpoint provides potential upside and is not included in the advertised cap rate.
Established restaurant location operating at this site since 2008.
Freestanding building with visibility from Highway 515, a primary commercial and travel corridor serving North Georgia.
Nearby retail anchors and restaurants include Walmart Supercenter, Lowe’s, Chick-fil-A, Wendy’s and Zaxby’s within the Highland Crossing commercial node.
Location and Market Highlights
The property is positioned within Ellijay’s primary retail corridor and benefits from surrounding shopping, dining, lodging and residential development. The market also draws visitors seeking North Georgia’s outdoor recreation, cabins, orchards, wineries and mountain attractions.
Median household income of approximately $67,344 within three miles and $61,622 within five miles.
Approximately 2,016 households within three miles and 7,368 households within five miles.
Projected population growth of approximately 3.2% within three miles.
Asking Price: $2,250,000.
If interested, please call or text us anytime at (770) 664-9999 or email your full name and best contact number to info@riverbrokers.com
Property Details
Location
Business Details
Pricing Details
Listing Information
This listing is published by an independent lister. Antela does not act as a real estate broker, does not verify ownership, and does not guarantee the accuracy of listing information. Buyers and tenants should conduct their own independent due diligence before entering into any transaction.
This listing is published by an independent lister. Antela does not act as a real estate broker, does not verify ownership, and does not guarantee the accuracy of listing information. Buyers and tenants should conduct their own independent due diligence before entering into any transaction.