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6756 Covington Hwy

Lithonia, GA 30058 · Retail For Sale

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Wells Fargo

Listing ID: 20392123 Date Created: 06/23/2017 Last Updated: 09/27/2017

Description

Why buy this deal?

This Wells Fargo is doing over $70M+ in deposits, which is incredibly strong for a bank and has seen continuous growth in past years

This branch is the #1 in terms of the number deposits in all of Lithonia.

Strategic Branch: This location is the result of a consolidation of 3 other branches in the area to create this site as the Regional Financial Center

Rare Escalations: 15% every 5 years | Not only does this provide for a better than market hedge against inflation but it also increases the average cap over the 10 Year Period to a 5.38% at list price.

Absolute NNN Ground Lease

The building is priced at or below replacement cost for a 5,400 SF brick construction bank building, decreasing the probability that they would ever relocate.

Additionally the rent is only $23.51/SF which is significantly below the market average of $39/SF.

Unbeatable Residual Value: Tenant asked landlord to combine two separate outparcels for subject site of 1.66 acres. Giving landlord ability to separate two outparcels in the future providing flexibility. Allows for a wide variety of future redevelopment opportunity

The property is ideally located on Covington Highway (20,000 VPD) situated just east of Atlanta.

Dynamic retail synery with other major tenants including: Kroger, Walgreens, ALDI, AutoZone, Dollar General, Family Dollar, Dollar Tree, Shell, Sonic, and many more

Traffic

Collection Street Cross Street Traffic Vol Year Distance
Covington Hwy Dekalb Medical Pkwy 28,109 2018 0.19 mi
Hillvale Rd Covington Hwy 2,060 2015 0.40 mi
Covington Hwy Wellington Walk Pl 21,084 2018 0.57 mi
Poplin Ct Quilt Ct 763 2018 0.91 mi
Corners Cir Corners Circle Trce 276 2018 0.91 mi

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