Strickland Brothers

6874 Hickory Rd, Woodstock, GA 30188

$2,100,000

Cap Rate 6.75%

Views: 622 DOM: 628 Updated: 10.30.24 Posted: 04.10.23 Status: Active

Summary

Price $2,100,000	Built/Renov 2022	Tenant Strickland Brothers
Cap Rate 6.75%	Lease Type Abs NNN	Guarantor Corporate
Size/SF 1,725	Lease Start 06-11-2023	#Units 173
Price/SF $1,217.39	Expiration 09-30-2038	Tenant Type Automotive
NOI $141,685	R. Term 13.9	Ownership Fee Simple
Rent/SF $82.14	Increases 10.0%/5/yrs	Pop 5Mi 65,330
Lot/AC 0.50	Options 4/5yrs/10%	AHHI 5Mi $132,985

Lease Highlights

Brand-new BTS construction | Grand opening estimated Feb 2023
Tenant signed a new 15-year lease with 4 (5-year) options to extend
Lease features 10% rental increases every 5 years throughout the initial term and at the beginning of each option period
Absolute NNN | Zero landlord responsibilities

Location Description

The subject property is ideally positioned near the intersection of Hickory Road and Hickory Flat Highway (Hwy 140), which has 16,000 vehicles passing per day. The site is directly across from Hickory Flat Commons, a Kroger-anchored shopping center and in close proximity to Hickory Flat Village, a Publix-anchored shopping center. The property is surrounded by numerous single family...

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Key Features

New construction
Build to suit
Highway close
Top 100 MSA
Affluent AHHI $100K 5 Mi
Population increase trend
Brand new lease
Long 15+ yr lease
Absolute NNN
Accelerated depreciation

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Links

Strickland Brothers Wikipedia Woodstock, Georgia Zip Code 30188 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Strickland Brothers
Guarantor:Corporate
Company:Princeton Equity Group
# Units:173
Stock:Private

About Tenant

Strickland Brothers is a fast-growing one-stop shop for oil changes and vehicle maintenance services. The company is well-known for its drive-thru 10-minute oil change, and offers a list of...

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Demographics

	1 Miles	3 Miles	5 Miles
2028 Total Population :	3,996	28,349	71,683
2023 Total Population :	3,743	26,752	67,786
2023 Employed Civilian Pop :	1,824	13,239	33,156
2023 Total Businesses :	163	503	1,169
2023 Average Household Income :	$ 158,795	$ 154,528	$ 148,985
2023 Total Consumer Spending :	$ 182 M	$ 1188 M	$ 2931 M
2023 Median Age :	41	39	39
2023 Total Households :	1,375	9,167	23,253
2023 Pop Age 25+: Bachelor's Degree :	936	6,339	14,143
2023 Average Home Value :	$ 478,529	$ 457,674	$ 476,964

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
Hickory Flat Highway	E Cherokee Dr	2021	19,300	0.42 mi
East Cherokee Drive	Hickory Rd	2021	12,100	0.43 mi
Hickory Flat Hwy	Foster Rd	2013	13,210	0.44 mi
Batesville Road	Upper Mill Creek Ln	2021	5,340	0.75 mi
East Cherokee Drive	Split Ridge Dr	2021	8,120	0.88 mi
East Cherokee Drive		2019	8,150	0.88 mi
East Cherokee Drive	Township Way	2018	8,090	0.88 mi
Lower Union Hill Road	Windflower Ct	2021	4,580	0.96 mi
Lower Union Hill Road	Cherokee Hill	2019	4,650	0.96 mi
Lower Birmingham Road	Upper Mill Creek Ln	2021	5,980	0.99 mi

Listing Broker

Jeff Lefko

Hanley Investment Group

Contact

151 Listings
17961 Views
65 Sold

Bill Asher

Hanley Investment Group

Contact

151 Listings
18396 Views
63 Sold

Jeff Lefko

As Executive Vice President at Hanley Investment Group, Jeff Lefko specializes in advising clients in the acquisition and disposition of retail properties nationwide. Jeff is focused on developing meaningful relationships that go beyond a singular transaction by proactively advising his clients to help achieve their long-term financial goals and objectives. Jeff’s commitment to his clients has allowed him to close over $1.5 billion in sales since 2017, which included 114 transactions va

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Bill Asher

Bill Asher specializes in advising clients in the acquisition and disposition of retail properties nationwide. With over 20 years of experience in commercial real estate, his transaction expertise, industry relationships, and unparalleled professionalism have allowed him to close and contribute to more than $2 billion in sales, including over 550 sales in the last 10 years. Bill’s dedication and unwavering commitment to his clients have made him one of the top agents at the company earning him

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