600 Plant AveWaycross, GA 31501

Property Details for 600 Plant Ave

Property type

Office properties

Property subtype

Other office properties

Description

This exceptional investment opportunity presents a portfolio of three stabilized Class B creative office buildings in Waycross, Georgia, totaling $3,100,000 asking price and boasting a 9.00% cap rate. The portfolio enjoys 100% occupancy with a strong NOI of $278,895. The buildings are situated at 600 Plant Ave, Waycross, GA 31501. One building, occupied by the Department of Labor for over 30 years, recently underwent significant renovations including a new roof, electrical upgrades, interior and exterior painting, and new HVAC units, totaling $200,000-$250,000 in improvements. Another tenant, Diversified Resources Inc., a privately-owned corporation providing services to disabled and older adults, has occupied their three buildings for over 15 years and recently agreed to a 5-year lease renewal starting October 1st, 2024. Barnes Health, a tenant for over 10 years, recently renewed their lease for two years with a two-year option, and Lincare, a long-term tenant (lease through 2025), occupies 1650 square feet. Waycross Liquidators extended their lease until September 30th, 2026. All buildings feature new awnings. This portfolio offers a diversified tenant base with long-term leases, making it an attractive and stable investment opportunity. The modified lease structure provides additional flexibility. This is a multi-tenant property with a proven track record of success.

Location Insight

City

Waycross

County

Ware

State

Georgia

Latitude

31.2125

Longitude

-82.356

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