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Parker's Kitchen: Savannah, GA 1750 Grove Point Rd 5,175 SF Retail Building Savannah, GA 31419 $8,000,000 ($1,545.89/SF) 5% Cap Rate
Investment Highlights
- Premier Convenience & Gas Tenant
- Excellent Access & Visibility along Abercorn Street (60,100 VPD) | 1.5 Miles East of the On-Ramp to US-17 (38,000 VPD)
- Proximate to Hunter Army Airfield
- 20-Year Sale-Leaseback Offering | Absolute NNN Ground Lease
- Positioned Within a Residential Area | 1,980+ Households and 1,700+ Multifamily Units Within 1 Mile
- 13 Miles Southwest of Downtown Savannah (MSA Population: 437,261)
Executive Summary
CBRE is pleased to offer for sale the absolute NNN Parker’s Kitchen sale-leaseback ground lease situated on 2.60 acres in Savannah, Georgia (MSA Population: 437,261). At closing, Parker’s Kitchen will execute a new, 20-year absolute NNN ground lease featuring 10% rent increases every 5 years throughout the initial term and in each of the four, 5-year renewal options.
Property Facts
Sale Type
Investment NNN
Sale Condition
Sale Leaseback
Property Type
Retail
Property Subtype
Service Station
Building Size
5,175 SF
Building Class
C
Year Built
2024
Price
$8,000,000
Price Per SF
$1,545.89
Cap Rate
5%
NOI
$400,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.05
Lot Size
2.60 AC
Zoning
PB - Vacant
Frontage
231’ on Pine Grove Drive
Nearby Major Retailers
Contacts
-
Thomas Carr -
Christopher Bosworth -
Brian Pfohl -
Kaitlyn Wolf -
Leah Lindell -
Abby Kelly -
Katie Goldberg -
CBRE
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Parker's Kitchen: Savannah, GA | 1750 Grove Point Rd
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