For Sale
$3,803,077

124 3Rd StMacon, GA 31201

High-yield NNN lease, strong tenant.

Overview

Added:
Dec 11, 2024
Days on market:
113
This exceptional investment opportunity features a 12,750 square foot, single-story urgent care facility situated on a one-acre lot in Macon, Georgia's historic district. The property is currently 100% occupied under a 12-year triple net (NNN) lease with Piedmont Urgent Care by WellStreet, commencing October 1, 2023, and expiring September 30, 2035, leaving 10.9 years remaining. The lease includes a 3% annual rent increase, ensuring consistent income growth. The asking price is $3,803,077, representing a price per square foot of $298.28 and a 6.50% cap rate based on a current net operating income (NOI) of $247,200. This investment offers a stable and predictable income stream with minimal landlord responsibilities due to the NNN lease structure. The tenant, Piedmont Urgent Care by WellStreet, is a prominent healthcare provider with a significant presence in Georgia, boasting 74 locations statewide. This location has a proven track record of success, having operated for approximately 25 years. The property's prime location within the Macon metro area ensures excellent accessibility. This is a low-maintenance, high-return investment ideal for those seeking a secure and lucrative opportunity in the healthcare sector.

Highlights

  • NNN Lease with minimal landlord responsibilities.
  • 11-year remaining lease term on a new 12-year agreement with Piedmont Urgent Care (WellStreet).
  • High-performing urgent care facility; part of a 74-location Georgia and 129-location national network.
  • Established medical facility operating in this location for approximately 25 years.
  • Convenient Macon metro area location.

Property Details for 124 3Rd St

Property type
Retail properties, Medical centers
Square Feet
12,750 SF
Buildings
1
Stories
1
Lot Size (sq. ft)
43,560 SF

Location Insight

City
Macon
County
Bibb
State
Georgia
Latitude
32.839251199325
Longitude
-83.624569585341
124 3Rd St, Macon, Georgia

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124 3Rd St
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