Tesla Sales, Service & Delivery Center - Duluth
Single-tenant net lease retail (Tesla auto sales/service) property in Duluth, GA — sponsored by Kingsbarn Realty Capital
Files with the SEC as KB Duluth, DST
Minimum investment
$503k
Offering size
$50.3M
How much has sold
91.0%
Asset type
Single-tenant net lease retail (Tesla auto sales/service) property
Location
Duluth, GA
Financing
All cash. This offering reports no mortgage debt.
Sponsor-reported, from SEC filings and cited sources.
What is this, in one paragraph?
KB Duluth, DST is a Delaware statutory trust — fractional real estate ownership that can qualify for 1031 exchange treatment — formed in 2024 to hold a single-tenant Tesla sales, service and delivery center in Duluth, Georgia.1 Kingsbarn Realty Capital announced the acquisition on January 30, 2025.2 The $50,325,000 offering is made under Rule 506(c), which permits public advertising but requires the sponsor to verify each investor's accredited status.1
NNN Tesla; 6-story 584-stall garage; acq 10/17/24; on Duluth Auto Row; off sponsor current list 7/26
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These links support the public record as a whole; individual details may come from different sources.
On a 45-day clock? Find day 45 and day 180 from the sale date, then come back to this record.
What exactly is the property?
Kingsbarn announced on January 30, 2025 that it had acquired a newly renovated Tesla sales, service and delivery center and would offer it through a Delaware statutory trust.2 The sponsor's acquisition record dates the closing to October 17, 2024. The building sits on Duluth's Auto Row and includes a six-story, 584-stall parking garage.
- Property address
- 3380 Satellite Boulevard, Duluth, GA
- Property size
- 50,820 SF
Who is the tenant, and what's the lease?
Tesla, Inc. is the tenant on a triple-net basis, meaning the tenant carries taxes, insurance and maintenance rather than the landlord. The broker offering memorandum for the property describes a 15-year lease running from July 2024 through July 2039.3 Tesla's own location page lists a store, service center and delivery center at the address.4
How are sales going?
These are the sponsor’s own numbers. They can lag what has actually sold, and they do not confirm that interests are still available.
91.0% reported sold
- Amount sold
- $45,621,044
- Still available
- $4,703,956
- Investors reported
- 39
- Total offering
- $50,325,000
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How is it financed, and what does it pay?
The broker offering memorandum stated the property would be delivered free and clear of permanent financing — an all-cash structure, with no mortgage lender standing ahead of investors.3 That does not establish whether the Trust later placed debt, and the Form D does not designate debt as a security offered.1
Who's behind it?
The Form D/A names KB Exchange Properties, LLC as sponsor, KB Duluth ST, LLC as manager of the trust and signatory trustee, KB Duluth Holdings, LLC as depositor affiliate, and KB Duluth MT, LLC as the sponsor-controlled master tenant that holds the Tesla lease.1 The sponsor published a video marketing this Trust on November 13, 2025. The Trust was absent from the sponsor's current-offerings page as of July 2026, an omission that does not by itself establish a closing.
- Sponsor
- Kingsbarn Realty Capital
- Legal Trust name
- KB Duluth, DST
- May convert to a REIT
- No
- Offerings from this sponsor
- 10 active / 31 total offerings from Kingsbarn Realty Capital
Reported by the sponsor. Top1031 does not independently audit sponsor-reported figures.
What does the paperwork say?
An initial Form D — the short notice an issuer files for an offering exempt from registration — was followed a year later by a single amendment that raised the reported amount sold and the investor count while leaving the stated offering total unchanged. Interests are 100 Class 1 units priced at $503,250 each.1
- First Form D filedThe public offering record begins.
- Latest Form D filedThe most recent sponsor-filed checkpoint in this record.
- Filings on record
- 2
- How it may be offered
- Rule 506(c)May be advertised publicly. Every buyer’s accredited status must be verified.
- Source filing
- Read the filings on SEC EDGAR
A Form D is the notice a sponsor files when it starts raising money. A Form D filing does not mean the SEC approved, endorsed, or verified the offering.
DST interests are illiquid private securities. You may lose some or all of your investment. Distributions, tax treatment, and exit timing are not guaranteed. Review the current Private Placement Memorandum before investing.
Common questions
Is Tesla Sales, Service & Delivery Center - Duluth still raising money?
Top1031 lists Tesla Sales, Service & Delivery Center - Duluth as active because the sponsor is still filing with the SEC. That does not confirm that interests remain available.
Where does Top1031 get the data for Tesla Sales, Service & Delivery Center - Duluth?
Top1031 builds this record from the sponsor’s own SEC filings and cited sponsor disclosures. Filings can lag what is happening now. A Form D filing does not mean the SEC approved, endorsed, or verified the offering.
Who occupies the building today?
Tesla. Tesla's own location page lists Tesla Service Duluth at 3380 Satellite Blvd., Duluth, GA 30096, with a store and delivery centers also listed on site. Kingsbarn described the asset as a newly renovated, single-tenant Tesla sales, service and delivery center when it announced the acquisition on January 30, 2025.
Does this Trust carry a mortgage?
The broker offering memorandum for the property, published by Fisher James Corp. / Delta Commercial in November 2024, states the property would be delivered free and clear of permanent financing, which points to an all-cash purchase. The Trust's SEC Form D and Form D/A do not designate debt as a security offered and disclose no separate leverage. Neither source rules out debt placed after closing; the PPM — the private placement memorandum given to prospective investors — and county records settle it.
What is the minimum investment?
The Form D filings report a $503,250 minimum, matching the price of one Class 1 beneficial interest; the offering consists of 100 such interests totaling $50,325,000. Buyers must be accredited investors — individuals or entities meeting SEC income, net-worth or institutional tests — and under Rule 506(c) the sponsor must take steps to verify that status rather than accept a self-certification.
When was the property acquired?
Kingsbarn's acquisition record dates the Duluth closing to October 17, 2024, and the sponsor announced the purchase on January 30, 2025. The SEC filings do not state a real estate closing date: the October 17, 2024 date carried in the Form D is a first-sale-of-securities date, and the initial Form D itself was filed November 5, 2024. The PPM and the county deed record settle the purchase date.
What did the property cost?
The broker offering memorandum published by Fisher James Corp. / Delta Commercial in November 2024 states a purchase price of $44,365,000. That figure came from the marketing package for the property, not from the Trust's own filings, and no primary record found in research establishes the price the Trust actually paid. The PPM and the recorded deed are the places that figure is confirmed.
Is the offering still open?
No filing reports it as closed or fully subscribed. The Trust has filed an initial Form D and one amendment, dated November 6, 2025, and neither states that the offering is complete. The sponsor's current-offerings page no longer listed this Trust as of July 2026, which is a page-status observation rather than proof of a closing, a sale or a redemption. Only the sponsor or a selling broker-dealer can confirm current availability.
Chapter 9Kingsbarn Acquires Tesla Delivery Center in Duluth, GeorgiaSponsor press release announcing Kingsbarn's acquisition of the Tesla sales, service, and delivery center at 3380 Satellite Boulevard, Duluth, GA — the property backing KB Duluth, DST — for ~50,820 SF as a single-tenant, net-leased asset (acq 10/17/2024).