Wells Fargo

Tenant

Burger King

Location

Newnan, GA

Price

$1,845,000

CAP Rate

6.50%

NOI

$120,000

Lease Term

7 Years

Occupancy

100%

Building Size

18,485 SF

Property Type

Single Tenant

Year Built

1955

Lot Size

0.51 Acres

Status

Closed

Property Contacts:

Karly Iacono

Associate Director

201-742-6119 | Email

■ NNN Lease With Wells Fargo

■ Tenant Recently Signed Lease Extension

■ Site Features Five Drive-Through Lanes

■ Situated in Downtown Newnan

Marcus and Millichap is pleased to present a NNN Leased Wells Fargo Bank in Newnan, GA. This investment offering features an approximately 18,300-square foot free-standing Wells Fargo Bank, located on Greenville Street (US Highway 29) in Newnan, GA. Wachovia Bank originally signed a seven-year lease at this location in 2003 and exercised a five-year renewal option in February 2010. Shortly thereafter, Wells Fargo took over the lease following its merger with Wachovia. Wells Fargo and the current owner recently negotiated a new five-year term, which extends the current lease expiration to August 31, 2020. This Wells Fargo fronts Greenville Street (US Highway 29), a main north/south highway through Newnan. The site features five drive-through ATMs and is centrally located in the downtown area. There are a variety of office buildings located within a few blocks of this Wells Fargo including Bank of America and the US Post Office. Other major tenants within the area include Dairy Queen, State Farm, TitleMax, Pizza Hut, Family Dollar, Chevron, Advance Auto Parts, Kroger, and Long John Silvers all within one and one-half mile of the subject property.