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Vacant QSR | Strong Value-Add 203 N Main St
3,081 SF Vacant Retail Building Online Auction Sale Pearson, GA 31642
Investment Highlights
- Vacant 3,081-square-foot former Hardee's located in a rural Georgia town with no other national fast-food operations for 30+ miles.
- Asset is located on the primary north-south arterial (5,500+ VPD) for Pearson & just two blocks from the primary east-west arterial (5,900+ VPD).
- Nearby amenities include Dollar General, DG Market, The Witches Brew, Country Cabin Steak House, Julie's Mexican Restaurant, and Circle K.
- Property has a single-lane drive-thru, 48 surface-level parking spaces, well-maintained landscaping, some commercial kitchen equipment, and more.
- Food and alcohol spending comprise over 25% of the $96.1M in total specified consumer spending for the 10-mile radius, which has over 9,800 residents.
Executive Summary
The asset is well-positioned along N Main Street/future U.S. Highway 221 (5,500+ VPD), a primary north-south arterial for the Pearson area. 203 N Main Streets sits just two blocks from Pearson's primary east-west arterial, Albany Avenue/Future US Highway 82 (5,900+ VPD). This asset is the only traditional quick-service restaurant located within the town limits for Pearson, making it a highly desirable asset that will surely cater well to the town. The surrounding 10-mile population contains over 9,800 residents with total specified consumer spending above $96.1 million annually. Over 25% of that total spending goes to food and alcohol, suggesting a quick-service restaurant operation will fare well at this location.
203 N Main Street is a prime investment opportunity to acquire a vacant quick-service restaurant with strong value-add potential.
Data Room Click Here to Access
- Operating and Financials
- Purchase Agreement
- Title and Insurance
Property Facts
Amenities
- Dedicated Turn Lane
- Pylon Sign
- Signage
- Drive Thru
- Air Conditioning
About Statesboro
Statesboro, Georgia, is located on the Interstate 16 corridor just 45 minutes from Downtown Savannah and the Savannah Port, one of the nation’s busiest. The town of about 32,000 people is the county seat of Bulloch County. Bulloch and neighboring Bryan counties have seen some of the fastest population growth in Georgia over the past decade, adding more than 25,000 people between the 2010 and 2020 counts by the U.S. Census Bureau.
A thriving industrial sector supports retail spending in the area. Major employers such as Briggs and Stratton engine maker, Great Dane refrigerated trailer manufacturer, and Walmart’s massive 1 million-square-foot distribution center provide thousands of jobs for area workers. The education and health sectors are also vibrant here. Georgia Southern University offers more than 66 undergraduate degree programs to its 26,000 students on its Statesboro Campus, and East Georgia Regional Medical Center is a regional healthcare hub.
Downtown revitalization and visitor attraction are priorities for local leaders. Developers are working to transform 75 acres near Downtown Statesboro into the “Creek on the Blue Mile,” a revitalized flood plain project adding nature trails, pavilions, and fishing and kayaking opportunities.
Population growth in Statesboro has attracted new brands to the market. Florida-based grocer Publix has plans to open its first Statesboro location in 2022.
DEMOGRAPHICS
Demographics
Nearby Major Retailers
PROPERTY TAXES
Parcel Number | P011031 | Improvements Assessment | £135,143 |
Land Assessment | £2,663 | Total Assessment | £137,806 |
PROPERTY TAXES
Sale Advisors
Walker Reich, Associate of Leasing and Brokerage
Additionally, Walker manages a number of properties throughout the Southeast working as a liaison between the property owner, the property management team, and the leasing agent. He’s responsible for all tenant and shopping center owner relations, supporting the team with leasing, renewals, new tenant coordination, and reporting.
Joe Strauss, Associate Broker
Joe holds a bachelor’s degree in finance with a concentration in real estate. He received his CCIM, Certified Commercial Investment Member in 2019. Born and raised in Columbia, South Carolina he enjoys going to the lake, playing golf, and making it back to Tuscaloosa to watch Alabama football.
Clay Craft, Associate
Clay’s years of experience bridging the gap between the public and private sectors make him uniquely qualified to make real estate deals happen. He has a passion for community development and is attracted to projects that are oftentimes overlooked by others. He is a licensed real estate professional and a member of ICSC.
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Vacant QSR | Strong Value-Add | 203 N Main St
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Vacant QSR | Strong Value-Add | 203 N Main St
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