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SRS Real Estate Partners Facilitates $3M Ground Lease Sale To Raising Cane’s

Property Image
SOLD
$3,000,000
Michael Berk
William Wamble
Patrick Nutt

Georgia

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Retail
Sold 05/20/2024
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Property Image
SOLD

SRS Real Estate Partners Facilitates $3M Ground Lease Sale To Raising Cane’s

9893 Georgia Highway 92

See Similar Deals
Retail
Sold 05/20/2024
Michael Berk
William Wamble
Patrick Nutt
the dealplayerscompscontact
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Summary

GEORGIA
Asset Type:Retail
Transaction Type:Sale

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:

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.

Players

Patrick Nutt
SRS Real Estate Partners
Patrick Nutt
74 deals$552.4M volume
BROKER
William Wamble
SRS Real Estate Partners
William Wamble
53 deals$355.7M volume
BROKER
Michael Berk
SRS Real Estate Partners
Michael Berk
4 deals$31M volume(770) 402-3432
BROKER

Details

SOLD
IMAGE: - GROUNDLEASE DATE: 05/20/2024 ADDRESS: 9893 Georgia Highway 92 MARKET: Woodstock, GA ASSET TYPE: Retail SELLER: Warren Commercial Real Estate BROKERS: Michael Berk, Patrick Nutt & William Wamble - SRS Real Estate Partners SALE PRICE: $3,000,000 NOTE: SRS Real Estate Partners facilitated the $3 million ground lease sale of a recently constructed restaurant property in Woodstock, Georgia, with Raising Cane’s as the tenant on a 15-year, corporate-guaranteed lease.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$160,000.01

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$10,658.36
Cash-on-Cash Return-1.27%
Monthly Debt Service$14,221.53
Annual Debt Service$170,658.37