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Retail Center 732 Cherokee St 8,749 SF 100% Leased Retail Building Marietta, GA 30060 $7,056,105 CAD ($806.50 CAD/SF) 7.41% Cap Rate

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Investment Highlights

Minimal Management Responsibilities
Scheduled Rent Increases
Redevelopment Upside Potential

Dynamic Tenants
Strategic Location
High Traffic Counts

Executive Summary

Horvath & Tremblay is pleased to present the exclusive opportunity to acquire the Retail Center located at 732 Cherokee Street NE in Marietta, Georgia (the “Property”). Constructed in 2018, the Retail Center consists of a three-tenant retail building with 8,749 square feet of space on a 1.36-acre parcel. The Property is 100% occupied by Panera, Tropical Smoothie Café, and Phyllis Brunch Restaurant. The Retail Center is centrally located within the major medical corridor surrounding Wellstar Kennestone Medical Center. Situated between Cherokee Street NE and Lewis Drive, the Property enjoys excellent frontage and visibility and is directly across the street from the primary hospital building for Wellstar Kennestone. There is a municipal bus stop directly in front of the Property, and the parcel is less than 400 feet from the highly trafficked, signalized intersection of Cherokee Street NE, Church Street, and Tower Road at the center of the medical corridor. The Retail Center offers one of the most convenient dining options for patients, visitors, and employees at the medical center. The Property is a mile north of Downtown Marietta, and the surrounding areas are home to a significant number of national retailers and major businesses. Marietta is a suburb of Atlanta and is positioned approximately 20 miles northwest of the city.

Property Facts

Sale Type

Investment

Property Type

Retail

Property Subtype

Storefront

Building Size

8,749 SF

Building Class

Year Built

2018

Price

$7,056,105 CAD

Price Per SF

$806.50 CAD

Cap Rate

7.41%

NOI

$522,981 CAD

Percent Leased

100%

Tenancy

Multiple

Building Height

1 Story

Building FAR

0.15

Lot Size

1.36 AC

Zoning

NRC - Non-Retail Commercial

Frontage

154’ on Cherokee Street Northeast

Air Conditioning

Major Tenants

Accommodation and Food Services
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$59.33 CAD
Triple Net
Jul 2032

Panera began in 1987 as St. Louis Bread Company, a humble community bakery founded with a sourdough starter from San Francisco and a dream of putting a loaf of bread in every arm. While Panera's business has expanded well beyond St. Louis since then, that same sourdough starter is still used in their iconic sourdough bread and the craft of baking bread fresh each day remains at the heart of Panera Bread. Each day their trained bakers fill their bakery shelves with delicious freshly baked cookies, pastries, bagels, and a range of breads from focaccia to classic baguettes. Panera Bread is privately held by JAB Holding Company. Panera Bread is part of Panera Brands, one of the largest fast casual restaurant platforms in the U.S., comprised of Panera Bread®, Caribou Coffee® and Einstein Bros.® Bagels.

Accommodation and Food Services
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Tropical Smoothie Cafe began in 1997 when founders discovered Jamaican smoothies on vacation. The original Florida location served smoothies and wraps before expanding nationwide. Today the company operates numerous locations across the United States, offering a menu built around better-for-you items like smoothies, breakfast bowls, toasts, and sandwiches. Their product lineup includes both classic and seasonal options made with quality ingredients.