Listing Summary
Corporate Shane's Rib Shack NNN net lease asset in Ellijay, GA! $1,899,000 (7.11% Cap Rate). Corporate guaranty, 2% annual rent bumps, 18-yr history. Call (770) 664-9999!
Full Description
Corporate Shane's Rib Shack Single-Tenant Net Lease Asset For Sale: 289 Highland Crossing, Ellijay, GA
Offering institutional-grade net-leased passive income backed by an established corporate fast-casual brand, River Brokers is pleased to present the fee-simple interest in a freestanding Shane's Rib Shack located at 289 Highland Crossing, Ellijay, GA 30540. Offered at $1,899,000 ($437.46 per square foot), this prime single-tenant net-leased investment delivers a strong 7.11% Cap Rate ($133,712 current annualized base rent) on a 4,284 to 4,341-square-foot retail building situated on a expansive 1.29-acre parcel.
Backed by a corporate guaranty from Shane’s Rib Shack, LLC, the lease features built-in 2% annual rent escalation clauses through the initial base term and renewal periods, steadily pushing investor yields to nearly 8.0% (7.93%) on the current asking price before factoring in percentage rent upside. Shane's has operated continuously at this high-performing location since 2008, confirming nearly two decades of proven store success along Ellijay's premier commercial artery.
Key Investment Metrics & Lease Financials
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Asking Price: $1,899,000
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Initial Cap Rate: 7.11% Cap Rate (7.04% on initial base step)
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Current Annualized Base Rent: $133,712 ($11,142.68 / Month)
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Net Operating Income (NOI): ~$135,000 / Year
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Tenant / Lease Guarantor: Shane's Rib Shack, LLC (Georgia-Based Corporate Guaranty)
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Lease Expiration Date: January 2033 (Long-Term Remaining Base Term)
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Renewal Options: Two (2) Additional 5-Year Extension Options
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Contractual Rent Bumps: 2% Annual Increases (Base Rent reaches ~$150,582 by final step)
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Percentage Rent Upside: 5% above $1,800,000 annual gross sales breakpoint (Offers non-factored yield upside)
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Lease Structure: Net Lease (NN) — Tenant pays property taxes, insurance, utilities, HVAC, plumbing, electrical, and interior/exterior maintenance
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Landlord Responsibilities: Limited to roof, structural foundation, and 50% of qualifying parking lot resurfacing
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2025 Property Tax Bill: $6,176.29 (100% Tenant Obligation)
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Property Size & Year Built: 4,284 SF Building | 1.29 Acres Land | Built 2005 (Class C / C-2 Commercial Zoning)
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Parking Capacity: 60 Dedicated Surface Spaces (1.4 Spaces per 1,000 SF Leased)
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Broker Representation: River Brokers — Direct Contact: (770) 664-9999 | info@riverbrokers.com
Prime Highland Crossing Retail Node & Outparcel Visibility
Positioned in the central retail core of Gilmer County:
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High-Volume Traffic Corridor: Features 138 feet of direct frontage on Highland Crossing with immediate, high-impact visibility from Highway 515 (Zell Miller Mountain Parkway), which carries roughly 19,800 vehicles per day (VPD).
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National Retail Anchor Co-Tenancy: Outparcel setting surrounded by high-performing national anchors including Walmart Supercenter, Lowe's Home Improvement, Chick-fil-A, Wendy's, Zaxby's, LongHorn Steakhouse, Ruby Tuesday, Papa John's, and Mountain Cinemas.
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Scarcity Value / Fully Built-Out Node: The Highway 515 commercial corridor at Highland Crossing is nearly 100% built out with very few remaining undeveloped commercial parcels, creating high barrier-to-entry dynamics and protecting long-term real estate equity.
Booming Ellijay / Gilmer County Market & Tourism Drivers
Situated in the commercial heart of the North Georgia Mountains:
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Strategic Regional Location: Located approximately 75 minutes north of Metro Atlanta via I-575 and Highway 515, serving as the county seat and primary retail gateway for Gilmer County.
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Rapid Population Growth: Gilmer County’s population has expanded by over 21% since 2010 to an estimated 34,300 residents. Captures a 5-mile trade area of over 18,000 residents across 7,368 households.
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Projections & High Incomes: Features a 3-mile median household income of $67,344 and a 5-mile retail sales volume exceeding $198.4 Million (with total annual consumer expenditures crossing $502.7 Million). Projected 5-year household growth stands at 6.0%.
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Massive Year-Round Tourism & Second-Home Economy: Ellijay is famous as "Georgia's Apple Capital" and host of the annual Georgia Apple Festival. The market draws millions of visitors year-round for mountain cabins, wineries along Georgia's Wine Highway, river water sports (Ellijay, Cartecay, Coosawattee rivers), and Carters Lake, maintaining high off-peak restaurant sales volume.
Whether you are seeking a passive corporate net-leased restaurant asset, a 1031 exchange replacement property with annual rent escalations, or a stabilized retail investment along Highway 515 in North Georgia, 289 Highland Crossing delivers corporate brand security, high yields, and prime real estate backing.
Single-Tenant Lease Financial Schedule Summary
| Lease Period |
Annualized Rent |
Implied Cap Rate Yield |
Key Lease Terms |
| Current Base Rent |
$133,712 |
7.11% |
Corporate Guaranty from Shane's Rib Shack, LLC |
| Annual Increases |
2% Annually |
Escalating Yield |
Compounding annually in base term and options |
| Final Base Step |
~$150,582 |
7.93% |
Yield on $1,899,000 purchase price before percentage rent |
| Percentage Rent |
5% Above $1.8M |
Variable Upside |
Triggers on gross sales over $1.8M threshold |
Quick Glance
- Listing ID:
CL-Georgia-28734
- Status:
Active
- Year Build:
N/A
- Building Size:
N/A
- Lot Size:
N/A
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