Tesla Sales, Service & Delivery Center - Duluth
Single-tenant net lease retail (Tesla auto sales/service) property in Duluth, GA — sponsored by Kingsbarn Realty Capital
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.
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 — holding a single-tenant Tesla sales, service and delivery center in Duluth, Georgia.1 Kingsbarn Realty Capital reported acquiring the property on October 17, 2024.2 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
Minimum investment
$503k
Offering size
$50.3M
How much has sold
91.0%
Financing
All cash. This offering reports no mortgage debt.
Sponsor-reported, from SEC filings and cited 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 reported acquiring this Tesla sales, service and delivery center on October 17, 2024, then placing it into a Delaware statutory trust for exchange investors.2 The site sits on Duluth's Auto Row and includes a six-story, 584-stall parking garage. Tesla's own listings still show the location operating, with store hours seven days a week and service Monday through Friday.3
- 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 sole tenant under a net lease: the broker offering memorandum describes Tesla paying taxes, insurance and maintenance, with the landlord keeping the roof, structure, building-system replacements and capital items of $15,000 or more.4 The same memorandum describes a 15-year term from July 2024 through July 2039 with three five-year renewal options.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
- Reported unsold
- $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 — meaning no mortgage lender standing ahead of investors.4 The Form D filings report no debt amount and no debt terms, so whether a loan was placed at or after closing is unresolved in the public record.
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, and KB Duluth MT, LLC as the sponsor-controlled master tenant that leases the building from the trust.1 Kingsbarn published a video marketing this Trust on November 13, 2025. The Trust was not on the sponsor's current-offerings list as of July 2026, an omission that does not by itself establish a closing.
- Sponsor
- Kingsbarn Realty Capital
- 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 brief notice an issuer files for an offering exempt from registration — was followed by an amendment that updated the amount sold and the investor count while leaving the stated offering size unchanged.1 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.
- Legal Trust name
- KB Duluth, DST
- 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?
Availability unconfirmed. Active means a filing within the past 15 months; it does not by itself establish current subscription availability.
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 is the tenant?
Tesla, Inc. Kingsbarn described the Duluth asset as a single-tenant, net-leased property of approximately 50,820 rentable square feet leased to Tesla when it announced the acquisition on January 30, 2025. A broker offering memorandum for the property describes a 15-year Tesla lease running from July 2024 through July 2039 with three five-year renewal options. Tesla's own store and service pages list the Satellite Boulevard address as an operating store, service center and delivery location. The SEC filings themselves name no tenant.
Does this Trust carry a mortgage?
Unresolved in the public record. The broker offering memorandum for the property states it would be delivered free and clear of permanent financing, which points to an all-cash purchase, but that is a marketing document rather than proof of how the trust closed. The Trust's Form D and its November 2025 amendment state no debt amount and no debt terms and do not offer debt as a security. 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, which matches 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 because the offering is made under Rule 506(c), the sponsor must take verification steps rather than accept a self-certification.
When was the property acquired?
Kingsbarn reported the closing on October 17, 2024 and announced the purchase publicly on January 30, 2025. The SEC filings do not state a real estate closing date: the October 17, 2024 date in the Form D is a first-sale-of-securities date, and the initial Form D was filed November 5, 2024. The PPM and the recorded deed confirm the purchase date.
What fees do the filings disclose?
The November 2025 Form D/A estimates $1,180,000 in sales commissions and no finders' fees. The initial Form D also reported a $4,110,000 financing and acquisition fee and $295,000 in reimbursement of offering expenses payable to the sponsor or its affiliates. These are the issuer's own estimates on a notice form; the PPM carries the full fee table, including ongoing asset management and the master lease arrangement.
Is the offering still open?
No filing reports it as closed or fully subscribed. The Trust filed an initial Form D on November 5, 2024 and one amendment dated November 6, 2025, and neither states that the offering is complete. The Trust was not on Kingsbarn's current-offerings list 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).