Wells Fargo

Wells Fargo

6155 Buford Highway
Peachtree Corners, GA

Price: $2,464,000
Cap: 6.25%
NOI: $154,000
Building Size: 10,851 SF
Lot Size: 2.07 AC

Investment Highlights

LOW REPLACEMENT RENT ($14.19/SF)
• At $14.19/SF, the tenant is paying well below market rent of $25/SF.
• There is a significant value-add component based on the current rent, assuming there was ever a need to backfill the property with another bank or restaurant tenant.

ABOVE AVERAGE DEPOSITS ($70M)
• This branch’s deposits are nearly $70 Million which is superior for a bank.
• Deposits at this branch increased from $55 Million to nearly $70 Million over the past year.

LONG 14-YEAR OPERATING HISTORY
• Wells Fargo has a 14 year operating history at this site.
• Wells Fargo just recommitted to this location by exercising a 5-year option to renew with a 10% rent increase.
• Prior to Wells Fargo’s acquisition, a community bank operated at the site since 1993.

REDEVELOPMENT OPPORTUNITY
• The lot size of the site is 2.07 Acres, which is ample land for creative redevelopment alternatives.
• The site is zoned C-2 which permits many uses including retail, restaurants, auto, office, and hotels.
• The property currently consists of 3 drive thru lanes which allows for an easy restaurant conversion.
• The site consists of 3 main access points to Buford Highway, Jimmy Carter, and South Peachtree Street.
• Traffic Counts on Buford Highway are nearly 37,700 VPD and 47,000 VPD on Jimmy Carter Boulevard.
• Demographics are promising with a 5 mile population of 261,192 and AHHI well over the national average at $83,000.

DENSE NORTH ATLANTA SUBURB
• Peachtree Corners is Gwinnett County’s largest city (population: 43,509) and is located just over 20 miles north of Atlanta.
• Peachtree Corners has no city property tax, and has been designated a top ten best suburb in the State of Georgia for its education quality, low crime rate, cost of living, employment, access to amenities, and livability.
• Home to major corporations such as Comcast, Career Builder, and Siemens, Peachtree Corners is a major economic driver of the Atlanta MSA.
• Peachtree Corners is a major “Tech Hub” in the Southeast and home to Technology Park Atlanta, a 3.8 million SF development consisting of many premier high tech and engineering firms and talent.

S&P A- CREDIT RATED TENANT
• Founded in 1852, Wells Fargo & Company (NYSE: WFC) is an Investment Grade Tenant and is A- rated by S&P.
• Wells Fargo currently has a Net Worth well over $186 Billion.
• 2019 Year End Total Annual Revenue for Wells Fargo was almost $104 Billion.
• As of March 2020, Wells Fargo’s Market Capitalization is over $173 Billion.
• 2019 Year End Assets of Wells Fargo were over $1.9 Trillion.

 

 

Don McMinn
OFFERING MEMORANDUM

Email not recognized.
In lieu of a confidentiality agreement, we request that you complete the following form in order to download an Offering Memorandum or try again.







Principle or Broker?