124 3Rd StMacon, GA 31201

Property Details for 124 3Rd St

Year built

1945

Lot size

1.00 AC

Property size (Sq ft)

13,785 SF

Zone code

CBD-1

Property type

Medical offices

Property subtype

Medical centers

APN

R073-0108

APU

R0730108

Description

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.

• CAP approach

  CAP return

  Valuation

  6%

  $1,753,369

  6.5%

  $1,618,495

  7%

  $1,502,888

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,688,902

  Geo Method

  $2,688,902

• Alternative Use

  Use

  Valuation

  Residential

  $2,006,934

  Hospitality

  $1,838,340

  Educational

  $1,529,478

  Medical

  $1,582,079

  Retail

  $2,379,187

Location Insight

City

Macon

County

Bibb

State

Georgia

Latitude

32.8389

Longitude

-83.624

CBSA code

31420

CBSA name

MACON, GA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?

Please email our support team at [email protected] and they will add the team member.

How do I access a private listing?

Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.

How can I contact the broker?

We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.

How do I unsubscribe from emails?

At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].