Shane's Rib Shack Net-Lease | Ellijay, GA
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River Brokers is pleased to present the opportunity to acquire a freestanding, single-tenant restaurant property leased to Shane's Rib Shack corporate at a 6% cap rate!
The 4,284-square-foot building is situated on +/- 1.29 acres in the established Highland Crossing retail corridor, with visibility from Highway 515. The property was constructed in 2005 and Shane's Rib Shack has operated at the location since 2008.
Offering Summary
Asking Price: $2,250,000
Scheduled Cap Rate: 6%
Current Annualized Base Rent: $133,712
Tenant DBA: Shane's Rib Shack
Lease Expiration: January 2033
Renewal Options: Two additional five-year options
Rent Increases: 2% annually in base term and option periods
Building Size: 4,284 square feet
Site Area: +/- 1.29 acres
Year Built: 2005
Investment Highlights
Long-term restaurant lease extending through January 2033, with two additional five-year renewal options.
Contractual 2% annual increases lift annualized base rent to approximately $150,582 by the final
scheduled step.
Tenant is responsible for real estate taxes, property insurance, utilities and most repair and maintenance expenses.
Percentage rent of 5% above a $1.8 million annual gross-sales breakpoint provides potential upside and is not included in the advertised cap rate.
Established restaurant location operating at this site since 2008.
Freestanding building with visibility from Highway 515, a primary commercial and travel corridor
serving North Georgia.
Nearby retail anchors and restaurants include Walmart Supercenter, Lowe's, Chick-fil-A, Wendy's and
Zaxby's within the Highland Crossing commercial node.
Location and Market Highlights
The property is positioned within Ellijay's primary retail corridor and benefits from surrounding shopping, dining, lodging and residential development. The market also draws visitors seeking North
Georgia's outdoor recreation, cabins, orchards, wineries and mountain attractions.
Median household income of approximately $67,344 within three miles and $61,622 within five miles.
Approximately 2,016 households within three miles and 7,368 households within five miles.
Projected population growth of approximately 3.2% within three miles.
Asking Price: $2,250,000.
The 4,284-square-foot building is situated on +/- 1.29 acres in the established Highland Crossing retail corridor, with visibility from Highway 515. The property was constructed in 2005 and Shane's Rib Shack has operated at the location since 2008.
Offering Summary
Asking Price: $2,250,000
Scheduled Cap Rate: 6%
Current Annualized Base Rent: $133,712
Tenant DBA: Shane's Rib Shack
Lease Expiration: January 2033
Renewal Options: Two additional five-year options
Rent Increases: 2% annually in base term and option periods
Building Size: 4,284 square feet
Site Area: +/- 1.29 acres
Year Built: 2005
Investment Highlights
Long-term restaurant lease extending through January 2033, with two additional five-year renewal options.
Contractual 2% annual increases lift annualized base rent to approximately $150,582 by the final
scheduled step.
Tenant is responsible for real estate taxes, property insurance, utilities and most repair and maintenance expenses.
Percentage rent of 5% above a $1.8 million annual gross-sales breakpoint provides potential upside and is not included in the advertised cap rate.
Established restaurant location operating at this site since 2008.
Freestanding building with visibility from Highway 515, a primary commercial and travel corridor
serving North Georgia.
Nearby retail anchors and restaurants include Walmart Supercenter, Lowe's, Chick-fil-A, Wendy's and
Zaxby's within the Highland Crossing commercial node.
Location and Market Highlights
The property is positioned within Ellijay's primary retail corridor and benefits from surrounding shopping, dining, lodging and residential development. The market also draws visitors seeking North
Georgia's outdoor recreation, cabins, orchards, wineries and mountain attractions.
Median household income of approximately $67,344 within three miles and $61,622 within five miles.
Approximately 2,016 households within three miles and 7,368 households within five miles.
Projected population growth of approximately 3.2% within three miles.
Asking Price: $2,250,000.
About the Business
- Years in Operation
- 21
- Website
- Show Website URL
Real Estate
- Owned or Leased
- Leased
- Building Sq. Ft.
- 4,284
- Rent
- $11,142.67 per month
Listing Info
- ID
- 2538366
- Listing Views
Business Location
Listing ID: 2538366 The information on this listing has been provided by either the seller or a business broker representing the seller. BizQuest has no interest or stake in the sale of this business and has not verified any of the information and assumes no responsibility for its accuracy, veracity, or completeness. See our full Terms of Use. Learn how to avoid scams.
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