DEALS

Deals

Krystal (Washington Road) – Augusta, GA

THE OPPORTUNITY

  • ​NNN Lease
  • ​Zero Landlord Responsibilities
  • ​One of the largest Krystal operators with 44 plus units
  • ​20 Year Initial Term through 12/1/2037
  • ​Rare Krystal 20-year original Term
  • ​Krystal operates 610 locations in 49 states and 10 countries
  • ​No rent relief requested throughout 2020
  • ​8% Rent escalations every 5 years of initial term
  • ​Two 5-year options
  • ​8% Rent escalations in every renewal

THE HIGHLIGHTS

  • ​Property is located on the primary commercial corridor in the Augusta, GA market
  • ​Strong traffic counts with over 39,000 cars daily
  • ​Large commuter traffic numbers with Interstate 20 traffic counts at 73,460 cars daily
  • ​Centrally located to the two largest counties in the Augusta MSA
  • ​Close proximity to Interstate 20, 0.6 miles
  • ​Located in affluent Augusta suburb with high average household income levels
  • ​3 Mile: $92,969
  • ​5 Mile: $86,720
  • ​Constructed in 2020
  • ​Located 2.1 miles from the Augusta National Golf Club, home of the Masters
  • ​Located 5 miles from downtown Augusta
  • ​Population within 5 miles is 131,887
  • ​Augusta MSA is projected to grow by 2.3% over the next 3 years

THE DEAL POINTS

  • Square Feet: 2,733 SF
  • Asking Cap Rate: 5.15% (current) 5.56% (Oct 2022)
  • Asking Price: $1,631,068
  • Year Built/Renovated: 2000
  • NOI: $84,000 (current) $90,720 (Oct 2022)
  • Rental Increases: 8% every 5 years

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