SRS Real Estate Partners Facilitates $3M Ground Lease Sale To Raising Cane’s
9893 Georgia Highway 92
$3,000,000
Building Size
—
Asset Type
Retail
Closing
May 20, 2024
About this deal
AI
The property involved in the transaction is a recently constructed restaurant property located at 9893 Georgia Highway 92 in Woodstock, GA. The asset is a retail space housing Raising Cane’s as the tenant on a 15-year, corporate-guaranteed lease. The sale price for this ground lease was $3,000,000.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $3,000,000
- Address: 9893 Georgia Highway 92
- Market: Woodstock, GA
- Seller: Warren Commercial Real Estate
- Brokers: Michael Berk, Patrick Nutt & William Wamble - SRS Real Estate Partners
SRS Real Estate Partners played a vital role in facilitating the $3 million ground lease sale of the restaurant property. Michael Berk, Patrick Nutt, and William Wamble from SRS Real Estate Partners were the brokers involved in the deal, representing the seller, Warren Commercial Real Estate. The transaction was successfully completed on 05/20/2024.
On the Map
$3,000,000
Retail
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Players
Woodstock Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.29%
Cash-on-Cash
-1.51%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93