Investment Summary
Price | $4,287,000 |
Cap Rate | |
NOI | |
Lease Term | Various |
Lease Type | NNN |
Rental Increases | Various |
Year Built | 2006 |
Building Size | 15,080 SF |
Lot Size | 1.48 Acres (64,469 SF) |
Status | Under Contract |
Lead Brokers | Vince Aicale Executive Director 415.690.5522 vince.aicale@cushwake.com CA RE License #01728696 Ryan Forsyth Executive Director 415.413.3005 ryan.forsyth@cushwake.com CA RE License #01716551 Cushman and Wakefield Inc. LIC. # 00616335 This property is listed in conjunction with Georgia-licensed real estate broker Delta Commercial. |
Investment Highlights
ESTABLISHED MULTI-TENANT RETAIL CENTER WITH SCHEDULED RENTAL INCREASES
» Corporate leases to well-known national tenants, including Panda Express, Chipotle, and Five Guys
» Scheduled rental increases, providing a hedge against inflation
» Historical record of long-term tenant occupancy, along with several recent lease extensions, demonstrating commitment to the location
HIGH-TRAFFIC LOCATION IN DENSE RETAIL CORRIDOR
» Located just past the signalized intersection of Tom Hill Senior Boulevard and Riverside Drive, which experiences a high traffic count of 45,137 vehicles per day
» Located directly off of Interstate 75’s Riverside Drive exit
» Interstate 75 (64,900 AADT) serves as the main route between Atlanta and Macon and is a heavily trafficked corridor
» Adjacent to North Park, a retail plaza anchored by Kroger and Kmart and featuring Boost Mobile, Plato’s Closet, MetroPCS, Sally Beauty Supply, O’Reilly Auto Parts, and several others
» Directly across from Publix-anchored shopping center, tenanted by major national tenants, including Tuesday Morning, Pet Supermarket, Planet Fitness, and Buffalo Wild Wings
CENTRAL LOCATION WITH AFFLUENT DEMOGRAPHICS
» Close proximity to downtown Macon and several schools, including Middle Georgia State University (8,000 students), Mercer University (over 8,600 students and 1,690 employees), and Central Georgia Technical College (7,796 students)
» High average household income of $83,323 within a three-mile radius
Click Here to Download Offering Memorandum
Property Description
The property is located just past the signalized intersection of Tom Hill Senior Boulevard and Riverside Drive, which experiences a high traffic count of 45,137 vehicles per day. The property is also located directly off of Interstate 75’s Riverside Drive exit. Interstate 75 serves as the main route between Atlanta and Macon and is a heavily trafficked corridor, with a traffic count of 64,900 vehicles per day. The property is located in a dense retail area, with close proximity to several large shopping centers and major national tenants. The property is adjacent to North Park, a retail plaza anchored by Kroger and Kmart and featuring Boost Mobile, Plato’s Closet, MetroPCS, and others. A Publix-anchored shopping center is across the street from the property. Other notable retailers in this center include Tuesday Morning, Pet Supermarket, and Buffalo Wild Wings. The property is also just over two miles from The Shoppes at River Crossing, an open-air lifestyle center with nearly 100 well-known retailers, including Barnes & Noble, Belk, Dillard’s, Dick’s Sporting Goods, and H&M. Other notable tenants near the property include Chick-fil-A, Hampton Inn, Walmart Supercenter, CVS, Lowe’s, McDonald’s, and many more.
The property is centrally located just over five miles from downtown Macon. Several schools are located just minutes from the property, including Wesleyan College, with 700 students; Middle Georgia State University, with 8,000 students; Mercer University, with over 8,600 students and 1,690 employees; and Central Georgia Technical College, with 7,796 students. Additionally, the property is surrounded by affluent residential neighborhoods and benefits from a strong customer base in the immediate area. The average household income within a three-mile radius of the property is $83,323, which is more than 36% higher than Georgia’s average.