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If I had $5,700,000 to invest, I’d buy a brand-new Miller’s Ale House in Sharpsburg, Georgia. This 7,300-square-foot building sits on a large 1.77-acre lot, adjacent to an upscale shopping center and across the street from Costco.
The lease has 12 years remaining with annual rent bumps to keep its valuation. Miller’s Ale House, founded in 1988, now has close to 100 restaurants in 10 states. Individual stores average $5M of annual revenues. The deal delivers a 5% return on investment. Burgers and beers, indeed!
Sharpsburg is in Coweta County and is part of the Atlanta metropolitan area.
– Steve Massell, Massell Commercial Real Estate