My deal for this week is a boat dealership one mile from Lake Lanier that’s being quietly marketed. The site is over an acre and is located on a heavily traveled retail corridor.
This investment is “triple-net,” which means the tenant pays all taxes, insurance and operating expenses. Although just three years remain on the initial 15-year lease, there are renewal options, each with a 10% rent bump.
This high-quality asset showcases why West Marine is the #1 boating supply company, with over 250 stores. An investment of $3.8M throws off about 5% return – be quick if you want this investment!