808 New Franklin RdLaGrange, GA 30240

Property Details for 808 New Franklin Rd

Year built

1993

Lot size

3.04 AC

Property size (Sq ft)

13,644 SF

Zone code

16- CR-MX

Property type

Retail properties

Property subtype

Auto shops

APN

0502B005009

APU

0502B005009

Description

This exceptional investment opportunity presents a 13,644-square-foot auto shop in LaGrange, Georgia, situated on a 3.8-acre lot at 808 New Franklin Rd, zip code 30240. The property is currently 100% occupied under a 20-year absolute triple-net (NNN) lease with a prominent tenant, commencing September 1, 2022, and expiring August 31, 2042. This leaves a substantial remaining lease term of approximately 17.8 years. The current annual net operating income (NOI) stands at $220,816, representing a compelling 7.25% capitalization rate based on the asking price of $3,045,738. The price per square foot is $223.23. The lease includes a built-in rent escalator, with annual increases of 2% commencing in year seven and continuing through four, five-year renewal options, potentially extending the lease term to 40 years. This presents a stable, long-term investment with significant upside potential. The tenant is a rapidly expanding operator with approximately 70 units. This property offers a secure, passive income stream with substantial growth prospects. The property is located in Troup County, Georgia.

• CAP approach

  CAP return

  Valuation

  6%

  $2,551,089

  6.5%

  $2,354,852

  7%

  $2,186,648

• Comparable approach

  Method

  Valuation

  Relative Method

  $6,706,724

  Geo Method

  $6,706,724

• Alternative Use

  Use

  Valuation

  Residential

  $1,986,406

  Hospitality

  $1,819,537

  Educational

  $1,513,833

  Medical

  $1,565,896

  Retail

  $2,354,852

Location Insight

City

Lagrange

County

Troup

State

Georgia

Latitude

33.0592

Longitude

-85.028

CBSA code

29300

CBSA name

LAGRANGE, GA-AL MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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