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660 North Ave

Macon, GA 31211

$5,930,278

Storefront For Sale  •  36,595 Sq Ft

Property Details

  • Property Type Storefront
  • Total Building Size 36,595 Sq Ft
  • Building Class C
  • Year Built 1984
  • Cap Rate 8.00 %
  • Tenancy Multiple
0 Transit Score
58 Walk Score

Description

***OPPORTUNITY ZONE***
W. Scott Wilson Properties, LLC is please to offer Baconsfield Shopping Center,  a  36,595 sq ft Kroger shadow strip center  in Macon, Ga. Great opportunity to acquire a well-maintained multi-tenant commercial plaza with a stabilized cash flow already in place. The subject property is in a Federal Opportunity Zone, an attractive investment vehicle created for investors to take advantage of the recent tax code changes. The changes allow for a reduction in capital gains tax through investments in qualified Opportunity Zones.
The property is located at the intersection of Gray Highway(43,900 VPD) and I-16 (83,900 VPD) and serves all of the downtown Macon area and East Macon. The Kroger is a corporately owned store.  The small shop occupancy historically has been 90% and above for many years and currently has 100% occupancy. Most have been there for many years  with some over 15 years or longer. Grifols Biomat , the largest tenant , is a national plasma center that elected  to exercise their first 5-year renewal early and currently have until 9/30/2024 until lease expiration. El Sombrero is the second largest tenant has been in the center since 1993.

Highlights

Located in a Federal Opportunity Zone
Stabilized Income
Long term assumable Financing
100% Occupied

Financial Summary (Actual)

Net Operating Income: $474,423 (2018)
Cap Rate: 8.00 %
Total Expenses: $101,015

Amenities

  • Bus Line
  • Corner Lot
  • Freeway Visibility
  • Monument Signage
Scott Wilson 478-951-9460 W. Scott Wilson Properties LLC
Scott Wilson 478-951-9460 W. Scott Wilson Properties LLC