Published on: Friday, October 18, 2024
Updated on: Friday, October 18, 2024
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About the Lister
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Name: Ned Skinner
Company: Anchor Point Capital
Office Phone: 714.264.2454
Cell Phone:  
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Financing  Business  Material
  IHeart Radio
1501 13th Ave Columbus Georgia , 31901
1501 13th Ave Columbus Georgia                                                                                             , 31901Anchor Point Capital
Listing ID: CL-Georgia-12474

Purchase Option

Acquisition Option: Traditional Purchase
Cap Rate (%): 8
Net Operating Income: $136,099
Commission Split (%): 0
Quick Glance
Listing ID: CL-Georgia-12474
Status: Accepting Offers
Financing: Third Party Financing
Occupancy: 100%
Year Build: 1983
Building Size: 11,835.00 SqFt
Lot Size: 65,340.00 SqFt.
No of Stories: 1
No of Parking: N/A
Offer to Millionaire Club: No
Business Available for Sale: No
Is Net Lease Investment: Yes
Property On Ground Lease: No
Building Status: Existing
Listing Summary
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
Complete Details
Year Build: 1983
Building Size: 11,835 SqFt.
No of Stories: 1
Total Lot Area: 65340 SqFt.
No of Parking: N/A
No of Total Units: 1
Property Current Status: Normal Sale
Building Status: Existing
Heating and Cooling: Not Specified
Building Class: B
Property on Ground Lease?: No
Net Lease Investment?: Yes
Business Price Included?: No
Roofing: Not Specified
Occupancy: 100%
Full Description
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.
Additional Properties
Property Highlights
  • - Attractive Annual Rent Increases
  • - Single Tenant NNN Lease
  • - Over 15 Years of Operating History at this Location
Features
  • Tenant Credit Corporate Guarantee
  • Lease Commencement 06/06/2009
  • Lease Expiration 09/30/2032
  • APN 027022009
Actual - Cash Flow
Cash Flow Year Gross Income Effective GrossIncome Operating Expenses Net Operating Income Pre Tax Cash Flow Cap Rate
2024
$0
$0
$0
$136,099
$0
0%
Cash Flow for Current Listings
Listing Location
Lister's other Properties
Address: 1127 State St , White Pine Tennessee 37890
Listing ID: CL-Tennessee-12768
Listing Type: Commercial
Category: Retail - Free Standing
Status: Active
Created On: 11/13/2024
Modified On: 11/13/2024
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