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3004 River Watch Ln
Augusta, GA 30907
Riverwatch Lane Center · Industrial Property For Sale
PROPERTY FACTS
| Property Type | Industrial | Rentable Building Area | 2,700 SF |
| Property Subtype | Warehouse | No. Stories | 1 |
| Building Class | A | Year Built | 2004 |
| Lot Size | 0.06 AC | Parking Ratio | 2.22/1,000 SF |
| Zoning | LI - Light Industrial Usage | ||
| Property Type | Industrial |
| Property Subtype | Warehouse |
| Building Class | A |
| Lot Size | 0.06 AC |
| Rentable Building Area | 2,700 SF |
| No. Stories | 1 |
| Year Built | 2004 |
| Parking Ratio | 2.22/1,000 SF |
| Zoning | LI - Light Industrial Usage |
ABOUT 3004 RIVER WATCH LN , AUGUSTA, GA 30907
Two buildings next to each other rented to the same tenant. Great tenant. Lease rate is currently $10 per sqft and goes up to $11.25 in mid 2019. Landlord and tenant have done a lot of improvements to property and it is expected that tenant will stay in property long term. Current lease was signed in June 2018 and expires in May 2020. Tenant does have first right of refusal to purchase. Net Income today is $47,785 and after increase bumps to $54,504. Fair market rent is closer to $12.50-$13.50 per sqft. Current lease is a modified gross with landlord being responsible for HVAC and roof both of which are in great condition. There is an assumable first mortgage on property but the loan has a short amortization term. Currently a 7.96% cap rate but with rent increase it bumps to over a 9.0% cap rate in 2019.
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $40,800 | |
| Land Assessment | $26,004 | Total Assessment | $66,804 |
PROPERTY TAXES
