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Intown Atlanta Net Lease Investment Opportunity

330 Edgewood Avenue
Atlanta, GA 30312
PRICE : $2,100,000
CAP RATE: 7.1%
PROPERTY TYPE: Retail
SITE SIZE: 0.24 Acres
BUILDING SIZE: 6,300 SF
YEAR BUILT: 1978

Highlights

  • 6,300 SF structure with rare, gated, off-street parking
  • Former church recently renovated into full-service restaurant and bar with patio on Edgewood Avenue’s retail district
  • Below market rents with upside potential if tenant vacates in future
  • Corner parcel with excellent visibility and exposure
  • Minutes from Downtown Atlanta, Georgia State University and the Eastside Beltline Trail
  • Easy access to I-85 & I-20
  • Located on the Atlanta MARTA trolley line
  • Located within a Qualified Opportunity Zone
  • Proposed $70 million mixed-use community, “Waldo’s Old Fourth Ward,” will include residences, retail, office space 125-key hotel nearby
  • Neighborhood is demonstrating 2.31% annual growth rate within 1-mile of subject property
  • 7 years remaining on lease
  • Very minimal Landlord responsibilities or expense risk
  • Annual escalations with personal guarantors

Description

Black Sheep Tavern & Oyster Room, located at 330 Edgewood Ave SE, provides investors the opportunity to enter the limited-supply Edgewood Avenue restaurant and bar district. Located just minutes from Downtown Atlanta, Georgia State University and the Eastside Beltline Trail.

This 6,300 SF former church was recently, extensively renovated into a turn-key restaurant and bar that integrates well into the Edgewood Ave restaurant and bar district. The property has two outdoor patio areas and off-street parking with additional basement/storage space.

Located in Atlanta’s Sweet Auburn district on Edgewood Avenue, the building is ideal for someone looking to take advantage of the visibility and foot traffic of one of Atlanta’s most essential nightlife destinations. Marked by iconic bars and inspired art, Edgewood Avenue has become one of the most trendsetting corners in Atlanta.

The property has seven years remaining on its primary term and is a hands-off, single-tenant investment with limited Landlord responsibilities, including roof, structure and parking lot. Tenant is responsible for all operating expenses including taxes and insurance and has three strong guarantors and a line of credit on the asset.

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