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Verizon Wireless 1445 Express Way 4,150 SF Retail Building Griffin, GA 30223 $2,100,000 ($506.02/SF) 5.85% Cap Rate
Investment Highlights
- Leased to Verizon Wireless (Cellco Partnership), a leading national wireless telecommunications provider with an established presence at the property.
- NNN lease structure with no landlord responsibilities
- Located along N. Expressway near Walmart and other established retailers, benefiting from a well-developed commercial trade area.
- Current five-year renewal term through October 31, 2029, providing contractual income visibility to the investor.
- Approximately 1.10-acre site located along N. Expressway in Griffin, Georgia.
- Established commercial location serving the Griffin market and surrounding communities, providing a stable setting for a national wireless tenant.
Executive Summary
This investment offering presents the opportunity to acquire a Verizon Wireless leased property located at 1445 N. Expressway in Griffin, Georgia. The property
encompasses approximately 1.10 acres and is leased to Verizon Wireless under the Fourth Renewal Term, which commenced November 1, 2024 and extends
through October 31, 2029.
The lease provides current annual base rent of $122,899.44, or $10,241.62 per month. The NNN lease structure places significant property-related obligations on the Tenant, including required insurance premiums and other expenses assigned under the Lease, providing an investor with a relatively passive income profile. The Fourth Amendment also confirms the continuation of the existing lease provisions except where specifically modified.
encompasses approximately 1.10 acres and is leased to Verizon Wireless under the Fourth Renewal Term, which commenced November 1, 2024 and extends
through October 31, 2029.
The lease provides current annual base rent of $122,899.44, or $10,241.62 per month. The NNN lease structure places significant property-related obligations on the Tenant, including required insurance premiums and other expenses assigned under the Lease, providing an investor with a relatively passive income profile. The Fourth Amendment also confirms the continuation of the existing lease provisions except where specifically modified.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Freestanding
Building Size
4,150 SF
Building Class
B
Year Built
1982
Price
$2,100,000
Price Per SF
$506.02
Cap Rate
5.85%
NOI
$122,850
Tenancy
Single
Building Height
1 Story
Building FAR
0.09
Lot Size
1.10 AC
Zoning
PCD - Planned Commercial Development
Parking
60 Spaces (14.46 Spaces per 1,000 SF Leased)
Frontage
190’ on Express Way
Amenities
- Signage
Fairly walkable
50/100
Exceptionally drivable
100/100
Somewhat bikeable
30/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 066-01-044 | Improvements Assessment | $270,291 |
| Land Assessment | $350,509 | Total Assessment | $620,800 |
Property Taxes
Parcel Number
066-01-044
Land Assessment
$350,509
Improvements Assessment
$270,291
Total Assessment
$620,800
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