1808 Manchester ExpyColumbus, GA 31904
- Commercial real estate
- 6,771 SF
Property Details for 1808 Manchester Expy
- Year built
- 2010
- Construction
- WOOD
- Lot size
- 1.14 AC
- Property size (Sq ft)
- 6,771 SF
- Property type
- Commercial real estate
- APN
- 034 026 007
- APU
- 34026007
Description
This exceptional investment opportunity presents a fee-simple ownership of a Wasabi Japanese Steakhouse located at 1808 Manchester Expressway, Columbus, GA 31904. The 7,283 square foot, Class A restaurant sits on a 1.14-acre lot with 75 parking spaces and boasts a prime location with high visibility and accessibility. Currently operating under a 10-year absolute NNN lease (with 7 years remaining) commencing November 29, 2021, and expiring November 28, 2031, the lease includes two five-year renewal options. The tenant, Shogun Japanese Steakhouses, Inc., provides a corporate guarantee. The property features a strong 5.50% cap rate with a pro-forma cap rate of 6.05%, generating a current NOI of $136,630 and a pro-forma NOI of $150,200. The lease includes 10% rent bumps every five years. Built in 2010 and extensively renovated in 2021-2022 by the tenant, the property benefits from its proximity to St. Francis-Emory Hospital, Columbus Country Club, Columbus High School, a new Starbucks, and a new Chick-fil-A. The property is zoned C3 - Neighborhood Commercial and enjoys high traffic counts on Manchester Expressway (50,300 AADT) and Interstate 185 (72,200 AADT). The 5-mile radius boasts a population of 165,548 with an average household income of $63,002 and a daytime population of 90,002. This is a truly exceptional opportunity for a passive income investment with significant upside potential. Asking price is $2,482,000 ($340.79/sq ft).
Valuation
by Paperhouses methods
- Valuation date:
- Dec 11, 2024
-
Alternative Use
- Use
- Valuation
- Residential
- $985,778
- Hospitality
- $902,967
- Educational
- $751,258
- Medical
- $777,095
- Retail
- $1,168,624
Location Insight
- City
- Columbus
- County
- Muscogee
- State
- Georgia
- Latitude
- 32.5066
- Longitude
- -84.9653
- CBSA code
- 17980
- CBSA name
- COLUMBUS, GA-AL METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
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