For Sale
$556,000

2224 Lafayette RdFort Oglethorpe, GA 30742

NNN Lease, 7.77% Cap Rate, 4,896 SF

Overview

Added:
Dec 11, 2024
Days on market:
114
This exceptional investment opportunity presents a fee-simple, single-tenant auto shop in Fort Oglethorpe, Georgia. Located at 2224 Lafayette Rd, this 4,896 square foot building sits on a 0.7-acre lot and is currently leased under an absolute NNN lease, meaning no landlord responsibilities. The lease commenced November 30, 2023, and has a remaining term of four years, expiring November 30, 2028, with attractive 3% annual rent increases. The asking price is $556,000, translating to a price per square foot of $113.56 and a 7.77% cap rate based on a current Net Operating Income (NOI) of $43,200. Built in 1990, the property benefits from a strong location near major retailers including Walmart, Publix, Home Depot, and others, serving a population exceeding 99,000 within a five-mile radius. The tenant, operating for over seven years at this location, provides comprehensive automotive services. The property's occupancy date is December 1, 2023, with an occupancy rate of 8%. This presents a compelling investment opportunity due to its low price point, strong tenant history, and built-in rent growth. The property is conveniently located approximately six miles from Chattanooga, Tennessee.

Highlights

  • Fee-simple, single-tenant auto shop in Fort Oglethorpe, GA.
  • 4,896 SF building on a 0.7-acre lot, priced at $556,000 ($113.56/SF).
  • Absolute NNN lease with no landlord responsibilities.
  • 7.77% cap rate based on a $43,200 NOI; 3% annual rent increases.
  • Strong location near major retailers (Walmart, Publix, Home Depot, etc.) in a 99,000+ population area.

Property Details for 2224 Lafayette Rd

Property type
Retail properties, Auto shops
Square Feet
4,896 SF
Year Built
1990
Lot Size (sq. ft)
30,492 SF

Location Insight

City
Fort Oglethorpe
County
Catoosa
State
Georgia
Latitude
34.9571878
Longitude
-85.2590383
2224 Lafayette Rd, Fort Oglethorpe, Georgia

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2224 Lafayette Rd
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