For Sale
$1,125,000

2529 Houston AveMacon, GA 31206

8,000 SF Net Lease Retail Property

Overview

Added:
Dec 11, 2024
Days on market:
115
This exceptional investment opportunity presents a single-tenant, 8,000-square-foot Family Dollar store situated on a 1.04-acre lot in Macon, Georgia. The property, built in 1996 and boasting a Class B rating, benefits from a highly visible location at the signalized intersection of Highway 80 and Houston Avenue, experiencing significant daily traffic volume from Highway 80 (27,660 vehicles) and Interstate 75 (78,100 vehicles). Its proximity to Macon University (nearly 12,000 students and staff) further enhances its appeal. The property features a Net Lease (NN) structure with a long-term lease extending until May 30, 2033, offering a remaining lease term of 8.5 years. The current annual net operating income (NOI) stands at $90,000, representing an 8% cap rate and a price per square foot of $140.62. The lease includes built-in rent bumps of 10% every five years, ensuring consistent income growth. Recent improvements include a resealed and restriped parking lot (April 2024) and a roof replacement in 2016 with a transferable warranty valid until June 2036. The property is zoned C-2 and enjoys a 100% occupancy rate. This investment offers a compelling combination of strong tenant occupancy, a favorable lease structure, and a prime location within a thriving retail corridor. The tenant is responsible for HVAC and other specified expenses as outlined in the lease agreement.

Highlights

  • High-traffic Family Dollar location at the signalized intersection of Hwy 80 & Houston Ave.
  • Family Dollar has a long-term lease extending to 5/31/2033.
  • Offered at an 8% cap rate with low net rent of $11.25/SF.
  • Rent increases 10% with each lease renewal.
  • Net lease; tenant responsible for HVAC and other expenses.
  • Recently renovated parking lot (April 2024).

Property Details for 2529 Houston Ave

Property type
Retail properties, Retail space
Square Feet
8,000 SF
Class
B
Year Built
1996
Buildings
1
Stories
1
Lot Size (sq. ft)
45,302 SF
Units
1

Location Insight

City
Macon
County
Bibb
State
Georgia
Latitude
32.8143807
Longitude
-83.6453584
2529 Houston Ave, Macon, Georgia

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2529 Houston Ave
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