Freestanding NNN Investment
For Sale
Contact for pricing
1808 Manchester Expy, Columbus, GA 31904
NNN leased Japanese Steakhouse with zero landlord responsibilities.
Property Size7,283 SF
Price / SF$340.79
Days on Market965
Property Features for 1808 Manchester Expy
General Information
Standard status
Active
Size
7,283 SF
Class
A
Total Parking Spaces
75
Property subtype
Retail
Zoning
Commercial Zoning - C3 - Neighborhood Commercial
Occupancy
100%
Lease Type
Absolute Net
Investment Type
Net Lease
Net Operating Income
$136,630
Building Details
Year Built
2010
Year Renovated
2021
Buildings
1
Stories
1
Tenancy
Single
Listing Agency:
Wesley Lewis SP
Listed By:
Wesley Lewis · License #GA 294001 Firm GA License H-75809
Source:
Crexi
Added: Feb 15, 2024
Changed: Oct 3
Last Checked: Oct 5 at 7:36PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Wesley Lewis SP
Investment Insights
Based on property information with market context.
This fee simple, freestanding building is an absolute NNN investment opportunity. The property is currently leased to Wasabi Japanese Steakhouse, which opened in April 2022 and fully renovated the premises at its own expense. The original 10-year lease has 5 years and 9 months remaining. The tenant has zero landlord responsibilities. The building, constructed in 2010-2011, has been a Japanese Steakhouse location since the 1980s. The property is positioned directly on the road, offering high visibility and ample parking, along with two access points. Rent commenced on December 1, 2021, and includes 10% increases every 5 years, including the two extension periods. The property is located one block west of St. Frances-Emory Hospital and Medical Campus, one mile north of Columbus Country Club, and two miles north of Columbus High School. It is also situated one parcel east of a new freestanding Starbucks with a drive-thru and half a mile west of a new Chick-fil-a with a dual drive-thru. The property benefits from high traffic counts of 50,300 AADT on Manchester Expressway and 72,200 AADT on Interstate 185. The 5-mile radius around the property has a population of 165,548, an average household income of $63,002, and a daytime population of 90,002. The building size is 7,283 square feet. Please note the 6.04% cap rate begins 12-1-2026.
Key Highlights
- Absolute NNN Lease: Enjoy a completely passive investment with zero landlord responsibilities.
- Strong Tenant: Features Wasabi Japanese Steakhouse, a well‑established concept that fully renovated the property.
- Favorable Lease Terms: Original 10‑year lease with approximately 5 years and 9 months remaining, including 10% rent increases every 5 years.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$95,048
Cap Rate
3.83%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,900,960
$1.9M
Cap Rate 7%
$1,357,829
$1.4M
Cap Rate 9%
$1,056,089
$1.1M
Market Conditions
NOI Build-Up for 7,283 SF
Gross rent
$132.8K $18.24/SF
− Vacancy
−$6.1K −$0.84/SF
EGI
$126.7K $17.40/SF
− OpEx
−$31.7K −$4.35/SF
NOI
$95.0K $13.05/SF
Area
Columbus, GA
Vacancy
4.60%
Lease Rate
$18.24 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,900,960
Cap Rate 7%
$1,357,829
Cap Rate 9%
$1,056,089
Alternative Uses
Best Use
Specialty Retail
$1.36M
$1.19M – $1.58M
NOI $95,048 @ 7.0% cap · market cap 3.83%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.63M
$1.43M – $1.90M
NOI $114,071 @ 7.0% cap · market cap 4.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,196
Businesses Nearby
151k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 67%
Shops & Services 33%
McDonald's
Dining
25,264 visits/mo
0.4 miles
Starbucks
Dining
19,090 visits/mo
0.1 miles
Circle K
Shops & Services
15,397 visits/mo
0.2 miles
Burger King
Dining
13,097 visits/mo
0.5 miles
Circle K
Shops & Services
12,729 visits/mo
0.5 miles
Demographics for 31904, GA
36,947
Population
15,947
Households
2.3
Avg Household Size
39
Median Age
31%
College-Educated
88%
High-School Grad
27.5 sq mi
ZIP Area
1,344
Density / Sq Mi
$65,625
Median Household Income
$42,573
Median Earnings
$1,036
Median Rent
$216,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Similar Off Market Nearby
- Ole Times Country Buffet — 1900 Manchester Expy, Columbus, GA 31904
Frequently Asked Questions
What type of property is this?
Conventional restaurant - NNN leased Japanese Steakhouse with zero landlord responsibilities.
Where is this conventional restaurant located?
The property is located at 1808 Manchester Expy Columbus, GA.
What is the asking price?
The asking price for this property is $2,482,000.
What are key features of this property?
This property features: Absolute NNN Lease: Enjoy a completely passive investment with zero landlord responsibilities.; Strong Tenant: Features Wasabi Japanese Steakhouse, a well‑established concept that fully renovated the property.; Favorable Lease Terms: Original 10‑year lease with approximately 5 years and 9 months remaining, including 10% rent increases every 5 years.
