Tesla Supercharger - Covington, Georgia 11220 GA-142 Hwy 8,300 SF Retail Building Covington, GA 30014 $849,060 CAD ($102.30 CAD/SF) 5% Cap Rate

Marcus & Millichap is pleased to exclusively offer for sale a Tesla Supercharger charging station located at 11220 GA-142 in Covington, Georgia. The property is subject to a License Agreement Ground Lease signed directly by Tesla, Inc. The sale offering comprises of ±19,834 square feet of land, of which Tesla licenses approximately 8,300 square feet for its Supercharger station. The subject property is offered for sale for $600,000, representing a five percent day one cap rate.
Tesla constructed and opened the 28 stall Supercharger station in 2024 at its sole cost and is responsible for all installation, operation, maintenance, insurance, and utilities associated with the charging equipment. Landlord’s only responsibility is clearing snow/trash in the parking lot. The ten year lease commenced May 16, 2024 and benefits from three percent annual increases beginning in Year 6, providing a growing income stream and a hedge against inflation. Following the base term, the lease provides for rolling five-year renewal options, each with ten percent rent increases per option.
The site sits directly on Highway 142 (GA-142), Covington’s primary retail corridor, surrounded by national retailers, including a top-performing Walmart Supercenter, ALDI, Home Depot, QuikTrip, AT&T, Chick-fil-A, and Wendy’s. Covington is within fast-growing Newton County, located roughly 35 miles east of downtown Atlanta.