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: 5.15%
- Asking Price: $990,000
- Year Built/Renovated: 1987
- NOI: $51,000
- Rental Increases: 5.50% every 5 years
- Lease Expiration: 7/31/2026