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124 3rd St 12,750 SF Office Building Macon-Bibb, GA 31201 $3,650,000 ($286.27/SF) 6.99% Cap Rate
INVESTMENT HIGHLIGHTS
- 10 Years Remaining on the NNN Lease
- Successful Long Term medical practice
EXECUTIVE SUMMARY
Southtree Commercial is pleased to present this exceptional investment opportunity of Piedmont Occupational Medicine, a facility spanning 12,750 square feet on a prime 1.00-acre lot located in the historical district of Macon, GA. Currently leased to Piedmont Urgent Care by Wellstreet, LLC, this asset offers an
impressive 10 years remaining on a Triple Net (NNN) lease, providing a stable and predictable income stream. The land is currently ground leased to the Landlord, with 48 years remaining in term. The Occupational Medicine group has experienced great success and shown a strong commitment to this location. They began occupancy in April of 2001, remaining in place for 23 years, and recently signing a new 12 year lease extension.
impressive 10 years remaining on a Triple Net (NNN) lease, providing a stable and predictable income stream. The land is currently ground leased to the Landlord, with 48 years remaining in term. The Occupational Medicine group has experienced great success and shown a strong commitment to this location. They began occupancy in April of 2001, remaining in place for 23 years, and recently signing a new 12 year lease extension.
DATA ROOM Click Here to Access
- Offering Memorandum
PROPERTY FACTS
Sale Type
Investment
Sale Condition
Ground Lease (Leasehold)
Property Type
Office
Property Subtype
Medical
Building Size
12,750 SF
Building Class
C
Year Built
1945
Price
$3,650,000
Price Per SF
$286.27
Cap Rate
6.99%
NOI
$255,253
Tenancy
Single
Building Height
1 Story
Typical Floor Size
12,750 SF
Building FAR
0.31
Lot Size
0.96 AC
Zoning
CBD-1 - Medical Office
Parking
97 Spaces (7.61 Spaces per 1,000 SF Leased)
AMENITIES
- Signage
- Air Conditioning
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PROPERTY TAXES
| Parcel Number | R073-0108 | Improvements Assessment | $438,941 |
| Land Assessment | $254,724 | Total Assessment | $693,665 |
PROPERTY TAXES
Parcel Number
R073-0108
Land Assessment
$254,724
Improvements Assessment
$438,941
Total Assessment
$693,665
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124 3rd St
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