Fee Simple ABS NNN 10yr Wasabi Lease | 1808 Manchester Expy
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Fee Simple ABS NNN 10yr Wasabi Lease 1808 Manchester Expy
6,779 SF Retail Building Columbus, GA 31904 $2,480,000 ($366/SF) 5.50% Cap Rate
Investment Highlights
- Fee Simple, 10 year ABS NNN Lease w 9+ yrs remaining, no landlord responsibilities
- Billboard on property generating yearly income for owner
- Next door to Starbucks, St. Frances-Emory Hospital Campus
- Completely renovated in 2022 at tenant's expense
Executive Summary
Fee Simple, New 10 year lease with 9 years remaining, Absolute NNN Investment - Freestanding Building. Wasabi Japanese Steakhouse Opened April 2022 and totally renovated the property at Tenants sole cost and expense. Zero Landlord responsibilities. The building is right up on the road with great visibility and plenty of parking. Two access points. Rent began December 1, 2021 and is an absolute NNN rent with bumps in the rent every 5 years, including the 2 extension periods. 1808 Manchester Expressway property is one block west of St. Frances-Emory Hospital and Medical Campus, one mile north of Columbus Country Club, two miles north of Columbus High School (rank#2 in Georgia), one parcel east of a brand new freestanding Starbucks w/drive-thru and 1/2 mile west of a brand new Chick-fil-a with dual drive-thru. A Japanese Steakhouse has been in this location since the 1980's, current building was built in 2010-2011 and was totally renovated by Tenant, 2021-2022. Traffic Counts 50,300 AADT Manchester Expressway, 72,200 AADT Interstate 185. 5 mile Radius Population 165,548; Average Household Income $63,002; Daytime Population 90,002
Financial Summary (Actual - 2022) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
-
|
-
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
-
|
-
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2022) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
6,779 SF
Building Class
C
Year Built/Renovated
2011/2022
Price
$2,480,000
Price Per SF
$366
Cap Rate
5.50%
NOI
$136,400
Tenancy
Single
Building Height
1 Story
Building FAR
0.14
Lot Size
1.14 AC
Zoning
NC - Neighborhood Commercial
Parking
74 Spaces (10 Spaces per 1,000 SF Leased)
Frontage
225 FT on Manchester Expressway
MAJOR TENANTS Click Here to Access
- Tenant
- Industry
- SF OCCUPIED
- RENT/SF
- Lease Type
- Lease End
- Wasabi Japanese Steakhouse
- Retailer
-
99,999 SF
-
$9.99
-
Lorem Ipsum
-
Jan 0000
| Tenant | Industry | SF OCCUPIED | RENT/SF | Lease Type | Lease End | |
| Wasabi Japanese Steakhouse | Retailer | 99,999 SF | $9.99 | Lorem Ipsum | Jan 0000 |
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 034-026-007 | Improvements Assessment | $334,370 (2023) |
| Land Assessment | $198,632 (2023) | Total Assessment | $533,002 (2023) |
PROPERTY TAXES
Parcel Number
034-026-007
Land Assessment
$198,632 (2023)
Improvements Assessment
$334,370 (2023)
Total Assessment
$533,002 (2023)
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Fee Simple ABS NNN 10yr Wasabi Lease | 1808 Manchester Expy
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