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Sonic 322 S Main St 1,164 SF Retail Building Statesboro, GA 30458 $1,652,000 ($1,419.24/SF) 5.75% Cap Rate
Investment Highlights
- 20-Year Sale-Leaseback | Experienced Operator (200+ Units) | Options To Extend | Scheduled Rental Increases
- Georgia Southern University | Prime Retail Corridor
- Absolute NNN | Fee Simple Ownership | Zero Landlord Responsibilities
- Strong Demographics In 5-Mile Trade Area
Executive Summary
The subject property is strategically located within minutes of Georgia Southern University, a major public institution with over 26,000 students, reinforcing consistent consumer demand and traffic. The asset is positioned in a high-traffic retail corridor surrounded by national brands and major shopping destinations, including Statesboro Mall (2.5M annual visits) and Statesboro Crossing (2.7M annual visits), reinforcing the area’s role as the region’s primary retail hub. Additionally, the property is just eight minutes from one of the top-performing Walmart Supercenters in the United States, generating 3.5 million annual visits and ranking in the 98th percentile nationwide and #1 in Georgia among comparable stores. The 5-mile trade area is supported by more than 52,900 residents and 22,200 employees, with an average household income of $72,664, providing a solid base of consumer demand and spending power that underpins long-term retail fundamentals at the property.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
1,164 SF
Building Class
C
Year Built
1991
Price
$1,652,000
Price Per SF
$1,419.24
Cap Rate
5.75%
NOI
$95,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.05
Lot Size
0.50 AC
Opportunity Zone
Yes
Zoning
HOC - Highway Oriented Commercial District
Parking
18 Spaces (15.46 Spaces per 1,000 SF Leased)
Frontage
100’ on MAIN ST
Nearby Major Retailers
Property Taxes
| Parcel Number | S30-000024-000 | Improvements Assessment | $92,088 |
| Land Assessment | $76,000 | Total Assessment | $168,088 |
Property Taxes
Parcel Number
S30-000024-000
Land Assessment
$76,000
Improvements Assessment
$92,088
Total Assessment
$168,088
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Sonic | 322 S Main St
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