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1007 E Oglethorpe Blvd 13,428 SF 100% Leased Retail Building Albany, GA 31705 $799,000 ($59.50/SF) 6.01% Cap Rate
EXECUTIVE SUMMARY
NNN Drive Time Lease(the biggest company in the retail car business,they have about 200 location over the states)
The whole property has been renovated in 2021(about 400k spent on renovation)
Lease for 25 years about 21 years left
Hot location in the busiest area in town surrounded by all major franchise dealership in Georgia
Tenant pays $4000 a month untill April 2026 then 10% increase will apply every 5 years with 0 responsibilities for the land lord($48,000.00 net money to land lord this year then $52,400.00 starting next year)
Tenant pays for all repair and replace expense including roofing, electrical, pluming , flooring, structural, HVAC etc............
Tenant pays liability insurance, building insurance and Property Taxes
The value of the property after renovation as a vacant property about 1.3 million
selling it cheap to liquidate quick cash
The whole property has been renovated in 2021(about 400k spent on renovation)
Lease for 25 years about 21 years left
Hot location in the busiest area in town surrounded by all major franchise dealership in Georgia
Tenant pays $4000 a month untill April 2026 then 10% increase will apply every 5 years with 0 responsibilities for the land lord($48,000.00 net money to land lord this year then $52,400.00 starting next year)
Tenant pays for all repair and replace expense including roofing, electrical, pluming , flooring, structural, HVAC etc............
Tenant pays liability insurance, building insurance and Property Taxes
The value of the property after renovation as a vacant property about 1.3 million
selling it cheap to liquidate quick cash
PROPERTY FACTS Under Contract
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Auto Dealership
Building Size
13,428 SF
Building Class
C
Year Built/Renovated
1968/2021
Price
$799,000
Price Per SF
$59.50
Cap Rate
6.01%
NOI
$48,000
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Loading Docks
17 Exterior
Building FAR
0.09
Lot Size
3.39 AC
Opportunity Zone
Yes
Zoning
C3 - Heavy Commercial
Parking
139 Spaces (10 Spaces per 1,000 SF Leased)
Frontage
AMENITIES
- Corner Lot
- Dedicated Turn Lane
- Fenced Lot
- Signage
PROPERTY TAXES
| Parcel Number | 000EE-00043-03A | Improvements Assessment | $135,840 |
| Land Assessment | $101,920 | Total Assessment | $237,760 |
PROPERTY TAXES
Parcel Number
000EE-00043-03A
Land Assessment
$101,920
Improvements Assessment
$135,840
Total Assessment
$237,760
1 of 5
VIDEOS
MATTERPORT 3D EXTERIOR
MATTERPORT 3D TOUR
PHOTOS
STREET VIEW
STREET
MAP
Presented by
Bob Beshay
1007 E Oglethorpe Blvd
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