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Marco's Pizza 279 N Lee St 2,652 SF 100% Leased Retail Building Forsyth, GA 31029 $832,000 ($313.73/SF) 6.25% Cap Rate
Investment Highlights
- CLOSE PROXIMITY TO BUSY COMMUTER THOROUGHFARE
- POSITIONED IN A DENSE RETAIL NODE
- LONG OPERATING HISTORY WITH RECENT EXTENSION
Executive Summary
ATTRACTIVE LEASE FUNDAMENTALS
- Marco’s Pizza has signed a 10 year lease with 2.5% annual increases with four (4) five (5) year extensions
- Abs. NNN with Zero Landlord Responsibilities
LONG OPERATING HISTORY WITH RECENT EXTENSION
- Tenant has been operating at this location for over 10 years
- Tenant recently signed a 10 year extension, showing commitment to the site
- MPZ Holdings has 30+ locations across the southeast with experience franchising Marco’s Pizza Locations
POSITIONED IN A DENSE RETAIL NODE
- More than 677K SF of retail space within 1 mile
- Nearby national retailers include: Walmart Supercenter, Tractor Supply Co., Ingles Markets, Ace Hardware, and more
HIGH GROWTH FORSYTH, GA
- According to the Atlanta Regional Commission, the population of Forsyth, GA has more than doubled since 2000
- The population has increased from 98,407 people to 250,000 residents in 25 years
CLOSE PROXIMITY TO BUSY COMMUTER THOROUGHFARE
- Site is positioned off of I-75 (93.2K VPD)
- This Marco’s Pizza being under an hour from center city Atlanta, benefits from Atlanta MSA tailwinds as well as commuters to and from work around the city
NEARBY MARKET DRIVERS
- Just 1.4 miles south of the site is the Mary Persons High School with over 12,86 students enrolled
- 3.5 miles north of the site is the Georgia Public Safety Training Center which spans more than 1,000 acres
- The facility employs 200 people and runs a 20 week course for thousands of public officials in the state of Georgia
- Marco’s Pizza has signed a 10 year lease with 2.5% annual increases with four (4) five (5) year extensions
- Abs. NNN with Zero Landlord Responsibilities
LONG OPERATING HISTORY WITH RECENT EXTENSION
- Tenant has been operating at this location for over 10 years
- Tenant recently signed a 10 year extension, showing commitment to the site
- MPZ Holdings has 30+ locations across the southeast with experience franchising Marco’s Pizza Locations
POSITIONED IN A DENSE RETAIL NODE
- More than 677K SF of retail space within 1 mile
- Nearby national retailers include: Walmart Supercenter, Tractor Supply Co., Ingles Markets, Ace Hardware, and more
HIGH GROWTH FORSYTH, GA
- According to the Atlanta Regional Commission, the population of Forsyth, GA has more than doubled since 2000
- The population has increased from 98,407 people to 250,000 residents in 25 years
CLOSE PROXIMITY TO BUSY COMMUTER THOROUGHFARE
- Site is positioned off of I-75 (93.2K VPD)
- This Marco’s Pizza being under an hour from center city Atlanta, benefits from Atlanta MSA tailwinds as well as commuters to and from work around the city
NEARBY MARKET DRIVERS
- Just 1.4 miles south of the site is the Mary Persons High School with over 12,86 students enrolled
- 3.5 miles north of the site is the Georgia Public Safety Training Center which spans more than 1,000 acres
- The facility employs 200 people and runs a 20 week course for thousands of public officials in the state of Georgia
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
2,652 SF
Building Class
C
Year Built
1987
Price
$832,000
Price Per SF
$313.73
Cap Rate
6.25%
NOI
$52,000
Percent Leased
100%
Building Height
1 Story
Building FAR
0.10
Lot Size
0.60 AC
Zoning
C
Frontage
198’ on Lee St
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease End
-
- Accommodation and Food Services
- -
- -
- -
Headquartered in Toledo, Ohio, Marco’s Pizza is one of the fastest-growing pizza brands in the United States. Marco’s was founded in 1978 by Italian-born Pasquale (“Pat”) Giammarco and thrives to deliver a high-quality pizza experience, known for its dough made from scratch and its three fresh signature cheeses. The company has grown from its roots as a beloved Ohio brand to operate over 1,200 stores in 35 states with locations in Puerto Rico, the Bahamas, and Mexico.
| Tenant | Industry | SF Occupied | Rent/SF | Lease End | ||
|
|
Accommodation and Food Services | - | - | - |
Nearby Major Retailers
Property Taxes
| Parcel Number | F34-081A | Improvements Assessment | $103,760 |
| Land Assessment | $80,000 | Total Assessment | $183,760 |
Property Taxes
Parcel Number
F34-081A
Land Assessment
$80,000
Improvements Assessment
$103,760
Total Assessment
$183,760
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Marco's Pizza | 279 N Lee St
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