Marietta - NNN - Resturant

Investment Overview

SVN | Second Story is pleased to present 724 Cherokee Street NE, a 100% leased, income-producing restaurant investment in Marietta's medical corridor, about one mile north of Downtown Marietta and the Historic Square. The ±6,222 SF, two-level building sits on about 0.4 acres with on-site parking (Cobb County Parcel 16107400400). The whole building is leased to Ike's Café & Grill, an established West African restaurant brand that started in Norcross in 2013. The tenant has two separate triple-net leases, one for each 3,111 SF floor: Upper Level ("Canvas Space"): A full-service restaurant with alcohol sales. The initial term runs through March 31, 2031. The lease includes a scheduled $10/SF rent increase early in the term, then 3% annual increases. Lower Level: A ghost kitchen and to-go operation. The initial term runs through June 15, 2030, with 3% annual increases. Each lease includes two five-year renewal options at 3% annual increases and a personal guaranty. The tenant reimburses common area maintenance, taxes, and insurance (starting at $6.30/SF) and pays all utilities, so the landlord has limited management responsibility. The property is a short distance from Wellstar Kennestone Regional Medical Center. Kennestone is a 630+ bed, Level I Trauma Center with the largest emergency department in Georgia, which brings steady daytime traffic from hospital staff, patients, and visitors. Cherokee Street is one of Marietta's main commercial routes, connecting Downtown Marietta to the Canton Road corridor, with I-75 a short drive away.

Investment Highlights

• 100% leased to a single tenant under two NNN leases
• Contractual rent growth: a scheduled upper-level increase, then 3% annually
• Lease terms through 2030 and 2031, plus two 5-year renewal options on each lease
• Personal guaranty on both leases
• Two-level, ±6,222 SF building on ±0.4 acres with on-site parking
• Building Fully Sprinkled
• About 1 mile to Downtown Marietta; strong Cobb County demographics