Tesla Sales, Service & Delivery Center - Duluth
Single-tenant net lease retail property in Duluth, GA · sponsored by Kingsbarn Realty Capital
Tesla Sales, Service & Delivery Center - Duluth is a DST sponsored by Kingsbarn Realty Capital that owns a single-tenant net lease retail property in Duluth, GA (50,820 SF). Its latest Form D, filed Nov 6, 2025, lists a $50.3 million offering with a $503,250 minimum.
Key facts
- Minimum investment
- $503,250From the Form D
- Offering size
- $50,325,000Equity offered, per the Form D
- Sold so far
- Form D, Nov 6, 2025; the % is our arithmetic90.6%
- Investors reported
- Form D, Nov 6, 202539
- Selling commissions
- Form D Item 15; the % is our arithmetic$1,180,000 · 2.3% of offering
- Financing
- Not in the Form D. The Form D for this offering does not say whether it carries mortgage debt.How it is financed ↓
- Offered under
- Rule 506(c)May be advertised publicly. Every buyer’s accredited status must be verified.
Figures come from SEC Form D filings unless a source is cited. Sponsor-stated figures are as reported by the sponsor; Top1031 does not independently audit them. On a 45-day clock? Find day 45 and day 180 →
Sales so far
- Latest Form D
- Nov 6, 2025 · 2 filings
- First sale
- Oct 17, 2024
These are the sponsor’s own numbers. They can lag what has actually sold, and they do not confirm that interests are still available.
- Amount sold
- $45,621,044
- Not yet sold
- $4,703,956
- Investors
- 39
Calculated by Top1031 from the Form D filings, not stated by the sponsor:
90.6% of $50,325,000 sold, calculated by Top1031 from the Form D
- Average since first sale
- about $3.6 million a month
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Ask a 1031 specialist about this recordFree. About: Tesla Sales, Service & Delivery Center - Duluth. Top1031 is not a broker-dealer.Tesla Sales, Service & Delivery Center - Duluth · Duluth, GA · Photo: abernathydevelopment.com
What does the Trust own?
Kingsbarn Realty Capital's acquisition summary records the Duluth Tesla purchase as closing on October 17, 2024. 3 Its January 30, 2025 announcement described the building as single-tenant and net-leased to Tesla. 2 The property includes a six-story, 584-stall parking structure and sits on Duluth's Auto Row. The purchase price and the recorded deed grantee are not established in the public record.
- Property address
- 3380 Satellite Boulevard, Duluth, GA
- Property size
- 50,820 SF
Tenant and lease terms are not in the SEC filings or cited sources.
How have sales gone?
The sponsor’s own numbers, with the caveat in Sales so far ↑.
How is it financed, and what did it cost to sell?
Neither Form D names a lender or states a loan amount, so whether mortgage debt sits ahead of investors is unresolved in the public record. 1 A broker memorandum marketed the property for delivery free and clear of permanent financing — a pre-sale representation that does not establish what the Trust did afterward. 6
Debt
- Financing
- Not in the Form D. The Form D for this offering does not say whether it carries mortgage debt.
Costs and terms from the Form D
- Selling commissions
- $1,180,000 · 2.3% of offering
- Finders’ fees
- $0
- Paid to officers, directors and promoters
- $4,405,000 · 8.7% of offeringForm D Item 16· The filing’s note: “Sponsor/its affiliate will receive financing and acquisition fee totaling $4,110,000 for structuring the offering and the property acquisition, plus $295,000 reimbursement for relevant offering expenses incurred related with the Offering totaling.”
- Broker-dealers named in the Form D
- None named in the Form D
- Date of first sale
- Oct 17, 2024
- Minimum investment
- $503,250
Form D Item 15 and Item 16 amounts may be the issuer’s estimates; each percentage is Top1031’s arithmetic on two Form D figures. Item 16 can overlap Item 15, so Top1031 does not add them together. The issuer marked these amounts as an estimate.
Who's behind the Trust?
Kingsbarn Realty Capital sponsors Delaware statutory trusts for 1031 exchange investors and runs a multi-offering platform. The filings name KB Exchange Properties, LLC as the sponsor, with Kingsbarn Realty Capital, LLC identified as its manager. 1 They also name KB Duluth MT, LLC, controlled by the sponsor, as master tenant — the affiliate that leases the whole property from the Trust and deals with the tenant, a structure DSTs use to stay within the tax rules. 1
- Sponsor
- Offerings on record
What does the SEC record show?
The Trust's record consists of Form D filings — the brief notice an issuer files for securities sold under an exemption from SEC registration. 4 The single amendment raised the reported amount sold and the investor count while leaving the stated total offering size unchanged. 1
- Legal Trust name
- KB Duluth, DST
- SEC CIK
- 2042351
- First Form D
- Nov 5, 2024
- Latest Form D
- Nov 6, 2025
- Filings on record
- 2
- Offered under
- Rule 506(c)May be advertised publicly. Every buyer’s accredited status must be verified.
- Source filing
SEC Form D filings, newest first
| Filed | Form | Offering amount | Amount sold | Investors | Filing on SEC EDGAR |
|---|---|---|---|---|---|
| Form D/A | $50,325,000 | $45,621,044+$40,579,671 | 39+38 | EDGAR | |
| Form D | $50,325,000 | $5,041,373 | 1 | EDGAR |
Amounts, investor counts and minimums are as filed with the SEC on Form D. The change lines are Top1031’s arithmetic between consecutive filings; a new Form D notice starts a new count.
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.
Common questions
- Is Tesla Sales, Service & Delivery Center - Duluth an active offering?
- Tesla Sales, Service & Delivery Center - Duluth is an Active offering: its latest Form D was filed Nov 6, 2025. A Form D filing does not by itself confirm that interests are still available; the sponsor or a registered representative can confirm what is open.
- Who is the tenant, and what do the lease terms look like?
- Tesla, Inc. Kingsbarn Realty Capital announced on January 30, 2025 that it had acquired a single-tenant, net-leased Tesla sales, service and delivery center at 3380 Satellite Boulevard in Duluth, Georgia, and Tesla's own location pages list store, delivery and service-center operations there. Seller-sourced broker offering documents describe a 15-year Tesla lease running July 2024 through July 2039, three five-year renewal options, 2% annual rent increases during the initial term and option periods, and annual rent of $2,551,000 as of the date that memorandum was prepared — a marketing figure that does not establish rent payable today. The same memorandum describes the lease as net, with the tenant responsible for taxes, insurance and maintenance. That is seller-authorized marketing material, not the executed lease; the SEC filings name no tenant, and the offering documents control.
- Does this Trust carry a mortgage?
- Unresolved in the public record. The original Form D and the November 6, 2025 amendment state no debt amount, name no lender and give no leverage ratio, and Form D is not required to describe financing, so silence there is not evidence either way. A broker memorandum marketed the property for delivery free and clear of permanent financing, but that was a pre-sale statement about the sale rather than a record of what the Trust did afterward. The offering documents and Gwinnett County land records are where a buyer would confirm whether a loan was placed.
- What is the minimum investment, and who can buy?
- Both Form D filings report a minimum investment of $503,250 against a total offering amount of $50,325,000. Buyers must be accredited investors — individuals or entities meeting SEC income, net-worth or institutional tests — and because the offering is made under Rule 506(c) rather than 506(b), the sponsor must take affirmative steps to verify accreditation instead of accepting a self-certification.
- When did Kingsbarn buy the property, and what did it pay?
- Kingsbarn Realty Capital's own 2024–2025 acquisitions summary records the Duluth Tesla transaction as closing on October 17, 2024. The price is a different matter: no Form D discloses a purchase price, and the January 30, 2025 announcement confirms the acquisition and the building's approximate size without stating one. The $50,325,000 figure in the filings is the offering amount, not a documented purchase price. The offering documents and the recorded deed in Gwinnett County, Georgia are the governing records on price and title.
In the news
Sources
Show sources (7)Hide sources (7)
These links support the record as a whole; individual details may come from different sources.
- SEC Form D/A, KB Duluth, DST ↗
- Kingsbarn Realty Capital press release ↗
- Sponsor offering documents, Oct 2024
- SEC Form D, KB Duluth, DST ↗
- Tesla, Inc. location page ↗
- Sponsor offering documents
- kingsbarn.com ↗
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 offering documents before investing.