$3,266,000
CVS Oak Street Health NNN Investment For Sale | Columbus, GA | 7.00% Cap
Columbus, Georgia
Soft OfferCommercial Property for Sale in Columbus Georgia 31901
1501 13th Ave, Columbus, Georgia 31901
$1,701,300
$144 / sq ft 8% cap rate Listed Oct 18, 2024
11,835 sqft
Building
65,340 sqft
Lot
1983
Built
1
Stories
1
Units
Class B
Class
About this property
Commercial Property for Sale in Columbus Georgia 31901 is an office space for sale in Columbus, Georgia, listed at $1,701,300. Key details: year built 1983, building size 11,835 sqft, lot size 65,340 sqft, stories 1. Listed by Ned Skinner of Anchor Point Capital on LoopingCloud and last updated October 18, 2024.
Excellent Single-Tenant Investment Opportunity
Long-Term Lease Extension: The tenant recently extended their lease for an additional five years, bringing the remaining term to eight years
Attractive Annual Rent Increases: The lease includes a 3% annual rent escalation, enhancing investment returns
Established Tenant: iHeartRadio has successfully operated at this location for over 15 years
Competitive Pricing: The property is priced significantly below replacement cost at $143 PSF
Below Market Rent: Current rent is $14.19 PSF, well below the market rate of $20 PSF
Prime Location in the Southeast
Strategic Market: Columbus is the third-largest city in Georgia and a vital economic hub, home to Ft. Moore, America’s 3rd largest Military base in the USA
Major Employers: The area is home to some of the region’s largest employers, including:
Fort Moore Military Base (45,320 employees)
Piedmont Health (3,080 employees)
Kia Motors (2,700 employees)
Anthem Blue Cross (1,650 employees)
Low Office Vacancy: The office vacancy rate is approximately 5%, significantly lower than the national average
Ongoing Developments:
Golden Park Expansion: A $50 million multi-use development featuring retail, multifamily, hotels, and office located just 2.8 miles from the property.
Pratt & Whitney Aerospace Expansion: A $206 million expansion, expected to create 400 new jobs.
Key highlights
- Occupied
- Net Lease Investment
- Tenant Credit Corporate Guarantee
- Lease Commencement 06/06/2009
- Lease Expiration 09/30/2032
- APN 027022009
- - Attractive Annual Rent Increases
- - Single Tenant NNN Lease
Lending Opportunities
| Company | Lender type | Contact | Phone | |
|---|---|---|---|---|
| TheLoanProsTeam | Mortgage Broker | Roxanne Chung | (754) 707-5877 | |
| Money Solutions, LLC | Mortgage Broker | Jennifer A. Judice | (813) 431-5000 |
Property details
Key facts
- Year Built
- 1983
- Building Size
- 11,835 sqft
- Lot Size
- 65,340 sqft
- Stories
- 1
- Total Units
- 1
- Building Class
- Class B
- Occupied
- Yes
- Occupancy
- 100%
- Property Status
- Normal Sale
- Building Status
- Existing
- Net Lease Investment
- Yes
Pricing details
- Net Operating Income
- $136,099
- Financing
- Third Party Financing
- Investment Property
- Active investment property
Investment snapshot
8%
Cap rate
$136,099
Net operating income
$144
Price per sq ft
Actual - Cash Flow
Source: Yearly tax returns
Gross incomeNet operating income
| Year | Gross income | Effective gross | Expenses | NOI | Pre-tax cash flow | Cap rate |
|---|---|---|---|---|---|---|
| 2024 | - | - | - | $136,099 | - | - |
Acquisition options
| Option | Asking price | Cap rate | Commission | Monthly income | Ownership |
|---|---|---|---|---|---|
| Purchase Only | $1,701,300 | 8% | - | - | - |
Features and amenities
Property Features
- Tenant Credit Corporate Guarantee
- Lease Commencement 06/06/2009
- Lease Expiration 09/30/2032
- APN 027022009
Highlights
- - Attractive Annual Rent Increases
- - Single Tenant NNN Lease
- - Over 15 Years of Operating History at this Location
Location
Address as shown by the lister.
Get directionsAbout this area - Columbus
- Population
- 8,072
- Housing units
- 4,141
- Land area
- 4.0 sq mi
- County
- Muscogee
Neighborhood
Places shown on the map come from Google Maps and are near the property. Check details with each place before you rely on them.
Documents, links and contacts
Additional contacts
2 people to reach- Eric VuRealtor Associate (949) 667-1077
- Chandler DignamRealtor Associate (714) 928-9617
Frequently asked questions
What is the asking price of Commercial Property for Sale in Columbus Georgia 31901?
Commercial Property for Sale in Columbus Georgia 31901 is listed at $1,701,300. That works out to about $144 per square foot. The stated cap rate is 8%.
Where is Commercial Property for Sale in Columbus Georgia 31901 located?
The property is in 1501 13th Ave, Columbus, Georgia 31901, Muscogee County.
What type of property is this?
This is an office space for sale in the commercial category.
How big is the property?
The building is 11,835 sqft. The lot is 65,340 sqft.
Is financing available?
The lister indicates: Third Party Financing.
Who do I contact about this listing?
Ned Skinner of Anchor Point Capital listed this property. Use the Request Info button to send a message or call (714) 264-2454.
When was this listing published?
It was published on October 18, 2024 and last updated on October 18, 2024.
Listing information
- Listing ID
- CL-Georgia-12474
- Published
- Oct 18, 2024
- Last updated
- Oct 18, 2024
- Views
- 535
Report a problem with this listing
Disclaimer: LoopingCloud is a social listing portal that connects real estate professionals, service providers, buyers, and sellers. All property information, descriptions, availability, financial details, and any offerings are provided by the respective lister or service provider and are not independently verified by LoopingCloud.
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