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iHeart Radio 1501 13th Ave
11,835 SF Office Building Columbus, GA 31901 $1,601,164 ($135/SF) 8.50% Cap Rate
Investment Highlights
- Long-Term Lease Extension: The tenant recently extended their lease for an additional five years, bringing the remaining term to eight years
- Established Tenant: iHeartRadio has successfully operated at this location for over 15 years
- Below Market Rent: Current rent is $14.19 PSF, well below the market rate of $20 PSF
- Attractive Annual Rent Increases: The lease includes a 3% annual rent escalation, enhancing investment returns
- Competitive Pricing: The property is priced significantly below replacement cost at $135 PSF
- 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 US
Executive Summary
Property Facts
MAJOR TENANTS
- Tenant
- Industry
- SF OCCUPIED
- RENT/SF
- Lease Type
- Lease End
-
- Information
- -
- $11.50
- Triple Net
- Oct 2031
iHeartMedia (NASDAQ: IHRT) is the number one audio company in the United States, reaching a majority of Americans every month. It consists of several business groups. With its amount of monthly listeners, the iHeartMedia Multiplatform Group has a greater reach than any other media company in the U.S. Its leadership position in audio extends across multiple platforms, including more than many live broadcast stations in over many markets nationwide; its National Sales organization; and the company’s live and virtual events business. It also includes Premiere Networks, the industry’s largest Networks business, with its Total Traffic and Weather Network (TTWN); and BIN: Black Information Network, the first and only 24/7 national and local all news audio service for the Black community.
| Tenant | Industry | SF OCCUPIED | RENT/SF | Lease Type | Lease End | |
|
|
Information | - | $11.50 | Triple Net | Oct 2031 |
PROPERTY TAXES
| Parcel Number | 027-022-009 | Improvements Assessment | $415,202 |
| Land Assessment | $125,452 | Total Assessment | $540,654 |
PROPERTY TAXES
-
Eric Vu -
Ned Skinner -
Chandler Dignam -
Anchor Point Capital, Inc
Presented by
iHeart Radio | 1501 13th Ave
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