DEALS

Deals

Enterprise Rent-A-Car – Marietta, GA

THE OPPORTUNITY

  • ​NNN Lease
  • ​Zero Landlord Responsibilities during initial term
  • ​5-year initial term
  • ​3, 5-year options
  • ​5.5% Rental increases with each option
  • ​Corporately guaranteed lease
  • ​Investment grade tenant:
  • ​Standard & Poors: A-
  • ​Moody’s: Baa1
  • ​DBRS: A
  • ​Parent company: Enterprise Holdings
  • ​Revenue (2020): $22.5 Billion
  • ​Tenant spent $165,000 to renovate the property and building
  • ​Work Included: Roof replacement and repair, car wash station equipment, interior build out

THE HIGHLIGHTS

  • ​Trophy location within the Marietta market
  • ​Store has relocated from another location within the trade area
  • ​Tenant has over 20-year operating history in the trade area
  • ​Property located on one of the primary commercial corridors in the Marietta, GA market
  • ​Traffic Counts: ​Whitlock Ave: 27,568
  • ​Conveniently located along a primary retail corridor within the market
  • ​Area retailers include:
  • ​Kroger, Lidl, Goodwill, Dollar Tree, and more
  • ​Across the street from Cobb County Government Center
  • ​Located less than half a mile from Marietta High School with almost 2,200 students

THE DEAL POINTS

  • Square Feet: 1,855 SF
  • Asking Cap Rate: 5.00%
  • Asking Price: $1,020,000
  • Year Built/Renovated: 1987
  • NOI: $51,000
  • Rental Increases: 5.50% every 5 years
  • Lease Expiration: 7/31/2026

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