3246 Mercer university drive
Macon, GA
Retail for Sale - $1,230,000 - 2,078 Sq. Ft. on 0.73 acres
Property Info
CIMLS# | 856193 |
Location 3246 Mercer university drive Macon GA 31204 | |
Updated | January 26th, 2016 |
Type | Retail |
Price | $1,230,000 |
Building | 2,078 Sq. Ft. |
Land | 0.73 acres |
Property Description
The subject property is a freestanding 2,078+/- sq. ft. Popeye' s building located on Mercer University Drive in Macon, Georgia since 1998. Approximately 9 years remain on the lease, tenant has exercised all its options early, showing commitment to the location.
Store Sales: 2013-$970,000, 2014-$996,921, 2015-$1,177,070. That is an impressive 17% increase. Ask Broker for Sales report
The Tenant is Sailormen, Popeye's Largest Franchisee with over 145+ units, giving it a strong guarantee, they recently extended the lease term early in 2010, making the new lease expiration date December 31, 2024. The lease is structured as triple net (NNN) with landlord being responsible for certain repairs to the exterior walls ONLY(mainly stucco repair). All other expenses is the tenants responsibility. This is a great asset with Strong Store sales.
Surrounded by national tenants such as Chuck E. Cheese' s, Steak n Shake, Checkers, Shell, Play It Again Sports, TitleMax, SunTrust Bank and Olive Garden. Within one-half mile of the subject property is the Macon Mall, a nearly 1
million square foot retail shopping and dining destination with major anchor tenants such as Macy' s, JCPenney, and Office Depot.
Financials
Net lease Property