Property Listing No Longer Available for Sale

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
UpdatedJanuary 26th, 2016
TypeRetail
Price$1,230,000
Building2,078 Sq. Ft.
Land0.73 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



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