Corporate Krystal | Signalized Corner | NNN
2,114 SF | Retail Building | Macon, GA 31206 | $1,520,000 ($719/SF) | 6.25% Cap Rate
For Sale
Active
- Date Added:
- May 17, 2024
- Days on Market:
- 28 days
Asking Price $1,520,000
- Property Type
-
Retail, Restaurant
- Square Feet
- 2,114 SF
- Price / Square Foot
- $719
Listing Contacts
Gary Chou
Verified Profile
Matt Coates
Verified Profile
Calvin Short
Verified Profile
Aron Cline
Verified Profile
Rad Werssowetz
Verified Profile
- Property Info
Property Overview
• Corporately guaranteed lease | Krystal currently has ±300 locations throughout 11 states in the Southeast, primarily in TN, AL, FL, GA, MS | Aims to reach 500 units by 2027
– In April, 2023, Krystal merged with SPB Hospitality, a leading operator and franchisor of full-service dining restaurants, spanning a national footprint of hundreds of restaurants and breweries in 35 states and the District of Columbia
- Funds managed by affiliates of Fortress Investment Group LLC own SPB | Fortress is a leading, highly diversified global investment manager with ±$45.8B of assets under management as of 12/31/22
• Krystal had an AUV of $1.4MM in 2022 according to QSR Magazine | Totaled $309MM in system-wide sales
– Ranked #15 on QSR Magazine’s “Top 50 Brands Ready to Break Through”
• Coupon clipper asset | Absolute NNN lease | Zero Landlord responsibilities
• Excellent access and visibility from US Highway 41 aka Pio Nono Ave | ±18,630 VPD
• Long-term lease | There are just under 9 years remaining on the base lease term
• Ideal, brand-driven demographics | 70,300+ residents with an average HH income exceeding $54,600 VPD
• Walking distance to:
– An I-75 on-ramp and off-ramp | I-75 sees 68,600 VPD
– Southwest Magnet High School and Law Academy | ±800 students
• 1.5 miles from Mercer University | ±8,900 students
• About 2 miles from:
– Macon Mall | Currently undergoing a $42.8MM redevelopment that will include a 10,000-seat amphitheater, a 70,000 SF indoor pickleball area with 32 courts, a library annex, and county offices | There is also a possibility of a casino being a part of the redevelopment
– Central Georgia Technical College | 8,200+ students
– Lowe’s, Applebee’s, Havertys Furniture
– In April, 2023, Krystal merged with SPB Hospitality, a leading operator and franchisor of full-service dining restaurants, spanning a national footprint of hundreds of restaurants and breweries in 35 states and the District of Columbia
- Funds managed by affiliates of Fortress Investment Group LLC own SPB | Fortress is a leading, highly diversified global investment manager with ±$45.8B of assets under management as of 12/31/22
• Krystal had an AUV of $1.4MM in 2022 according to QSR Magazine | Totaled $309MM in system-wide sales
– Ranked #15 on QSR Magazine’s “Top 50 Brands Ready to Break Through”
• Coupon clipper asset | Absolute NNN lease | Zero Landlord responsibilities
• Excellent access and visibility from US Highway 41 aka Pio Nono Ave | ±18,630 VPD
• Long-term lease | There are just under 9 years remaining on the base lease term
• Ideal, brand-driven demographics | 70,300+ residents with an average HH income exceeding $54,600 VPD
• Walking distance to:
– An I-75 on-ramp and off-ramp | I-75 sees 68,600 VPD
– Southwest Magnet High School and Law Academy | ±800 students
• 1.5 miles from Mercer University | ±8,900 students
• About 2 miles from:
– Macon Mall | Currently undergoing a $42.8MM redevelopment that will include a 10,000-seat amphitheater, a 70,000 SF indoor pickleball area with 32 courts, a library annex, and county offices | There is also a possibility of a casino being a part of the redevelopment
– Central Georgia Technical College | 8,200+ students
– Lowe’s, Applebee’s, Havertys Furniture
Property Details
- Class
- C
- Year Built
- 1962
- Stories
- 1
- Property Subtype
- Freestanding
- Lot Size (sq. ft)
- 29,621 SF
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