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Faris Lee Investments is pleased to offer for sale the fee simple interest (land & building) in the freestanding, multi tenant, NNN leased, Riverside Place, located in Macon, GA. This well located multi-tenant pad to a new Hobby Lobby includes a diverse tenant line up with an excellent draw. Tenants include: Aspen Dental, Jersey Mike' s, Sports Clips, Sprint and 5-Star nutrition. The tenant base features an excellent mix of corporate credit as well as multi-location regional franchisee operators with excellent operating history. Aspen Dental' s lease features a 10% rental increase in year 6 of the intial term. Jersey Mike' s lease features a 7% rent increase in year 6 of the initial term and 7% rental increases at the beginning of each 3 (5-year) option period. Sport Clips' lease features a 10% rent increase in year 6 of the initial term. These rental increase generate steady NOI growth and hedges against inflation.
This building can be sold as single tenant or multitenant. See flyer for more details.
2.18 Acre Site with 1923 sq ft under roof and 1923 sq ft of floor space. Property is fully leased at this time. 30 existing parking spaces without a drive-thru and 24 existing spaces with a drive-thru. 3-tiered 2-sided lighted road sign roughly 35' tall and 2- 20ft x 3ft lighted marquis'. 2007 AADT by DOT indicates approximately 18,540 for this location.
The subject property is a freestanding 2,078+/- sq. ft. Popeye' s building located on Mercer University Drive in Macon, Georgia since 1998. Approximately 9 years remain on the lease, tenant has exercised all its options early, showing commitment to the location. Store Sales: 2013-$970,000, 2014-$996,921, 2015-$1,177,070. That is an impressive 17% increase. Ask Broker for Sales report The Tenant is Sailormen, Popeye's Largest Franchisee with over 145+ units, giving it a strong guarantee, they recently extended the lease term early in 2010, making the new lease expiration date December 31, 2024. The lease is structured as triple net (NNN) with landlord being responsible for certain repairs to the exterior walls ONLY(mainly stucco repair). All other expenses is the tenants responsibility. This is a great asset with Strong Store sales.
- Income/expense breakdown available upon request- Traffic count over 20,000 cars per day - Median household income of $60,000- Close proximity to residential,shopping and professional businesses - 3972 Northside Drive is a 41,665 square foot retail building on lot totaling 4.9 acres- 3990 Northside Drive is a 7,200 square foot retial building- 3959 Northside is a 4.26 acre lot
- Income/expense breakdown available upon request- Traffic count over 20,000 cars per day - Median household income of $60,000- Close proximity to residential,shopping and professional businesses - 3,400 square foot building with 0.3 acres asking $225,000
Located in the downtown central business district, one block from City Hall and walking distance to banks, restaurants and shopping.
Bank Owned, Multi-Tenant Office/Retail Building, 14,120+/- SF, 2 Stories, 6 Suites, Great Location in Downtown Macon, Only a Few Blocks From Mercer University, True Value Add Opportunity