For Sale
$1,357,000

2863 Pio Nono AveMacon, GA 31206

High-return NNN lease, strong tenant.

Overview

Added:
Dec 11, 2024
Days on market:
116
This exceptional investment opportunity presents a 2,114 square foot, single-tenant, absolute NNN leased property located at 2863 Pio Nono Ave, Macon, GA 31206. The property, built in 1962 and situated on a 0.5-acre lot, boasts 42 parking spaces and enjoys excellent visibility and access from US Highway 41 (Pio Nono Ave), experiencing approximately 45,000 vehicles per day. The tenant, Krystal, a well-established quick-service restaurant chain with a corporate guarantee, occupies the entire building under a 20-year lease commencing September 20, 2012, with an expiration date of September 30, 2032. This leaves approximately 7.9 years remaining on the base lease term, with six, 5-year lease options including 1.25% annual rent bumps. The current annual net operating income (NOI) is $95,000, representing a 7.00% cap rate on the asking price of $1,357,000. The property benefits from its proximity to major roadways, including I-75 (68,600 VPD) and is conveniently located near Mercer University, Central Georgia Technical College, and Macon Mall (undergoing a significant redevelopment). The strong demographics of the area, with over 70,300 residents and an average household income exceeding $54,600, further enhance the investment potential. This is a truly exceptional opportunity for a passive income investment with minimal landlord responsibilities. The property is 100% occupied and offers a secure, long-term investment with a credit-rated, corporately guaranteed tenant.

Highlights

  • Corporately guaranteed lease by Krystal, a subsidiary of SPB Hospitality, owned by Fortress Investment Group.
  • Krystal operates ~300 locations, aiming for 500 by 2027, with a 2022 AUV of $1.4MM and $309MM in system-wide sales; ranked #15 on QSR's "Top 50 Brands".
  • Absolute NNN lease with zero landlord responsibilities.
  • High visibility on US Highway 41 (Pio Nono Ave), ±18,630 VPD.
  • ~8 years remaining on the base lease term.
  • Strong demographics: 70,300+ residents, average household income exceeding $54,600.

Property Details for 2863 Pio Nono Ave

Property type
Retail properties, Restaurants
Square Feet
2,114 SF
Class
B
Year Built
1962
Buildings
1
Lot Size (sq. ft)
21,780 SF
Units
1

Location Insight

City
Macon
County
Bibb
State
Georgia
Latitude
32.8096952
Longitude
-83.6624794
2863 Pio Nono Ave, Macon, Georgia

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2863 Pio Nono Ave
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