Shane’s Rib Shack NNN Net Lease For Sale | Ellijay, GA ($1,899,000 | 7.11% Cap Rate)

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

• Asking Price: $1,899,000

• Initial Cap Rate: 7.11% Cap Rate (7.04% on initial base step)

• Current Annualized Base Rent: $133,712 ($11,142.68 / Month)

• Net Operating Income (NOI): ~$135,000 / Year

• Tenant / Lease Guarantor: Shane's Rib Shack, LLC (Georgia-Based Corporate Guaranty)

• Lease Expiration Date: January 2033 (Long-Term Remaining Base Term)

• Renewal Options: Two (2) Additional 5-Year Extension Options

• Contractual Rent Bumps: 2% Annual Increases (Base Rent reaches ~$150,582 by final step)

• Percentage Rent Upside: 5% above $1,800,000 annual gross sales breakpoint (Offers non-factored yield upside)

• Lease Structure: Net Lease (NN) — Tenant pays property taxes, insurance, utilities, HVAC, plumbing, electrical, and interior/exterior maintenance

• Landlord Responsibilities: Limited to roof, structural foundation, and 50% of qualifying parking lot resurfacing

• 2025 Property Tax Bill: $6,176.29 (100% Tenant Obligation)

• Property Size & Year Built: 4,284 SF Building | 1.29 Acres Land | Built 2005 (Class C / C-2 Commercial Zoning)

• Parking Capacity: 60 Dedicated Surface Spaces (1.4 Spaces per 1,000 SF Leased)

• 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:

• 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).

• 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.

• 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:

• 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.

• 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.

• 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%.

• 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