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    1808 Manchester Expy Columbus, GA 31904

    For Sale
    $2,482,000

    High-Yield Net Lease Restaurant

    Property size:
    7,283 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    368
    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).

    Property Features for 1808 Manchester Expy

    General Information

    Property type
    Restaurants
    Square Feet
    7,283 SF
    Class
    A
    Lot Size
    49,658 SF

    Building Details

    Year Built/Renovated
    2010/2021
    Buildings
    1
    Stories
    1

    HighLights

    • $2,482,000 asking price for a 7,283 SF Class A retail property.
    • Absolute NNN net lease with a corporate guarantee from Wasabi Japanese Steakhouse.
    • 10‑year lease with 7 years remaining, commencing November 29, 2021, and expiring November 28, 2031, including two 5‑year renewal options with 10% rent bumps every five years.
    • 5.50% cap rate, 6.05% pro‑forma cap rate; $136,630 NOI, $150,200 pro‑forma NOI.
    • Freestanding building on a 1.14‑acre lot with 75 parking spaces, located at 1808 Manchester Expressway, Columbus, GA 31904.
    • Built in 2010, renovated 2021‑2022, situated in a high‑traffic area with strong demographics.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Wasabi Japanese Steakhouse ... Japanese Restaurant

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Columbus
    County
    Muscogee
    State
    Georgia
    Longitude
    -84.96500145
    Latitude
    32.50698982

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    FAQs

    What type of property is this?
    Restaurant - High-Yield Net Lease Restaurant
    Where is this 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: $2,482,000 asking price for a 7,283 SF Class A retail property.; Absolute NNN net lease with a corporate guarantee from Wasabi Japanese Steakhouse.; 10-year lease with 7 years remaining, commencing November 29, 2021, and expiring November 28, 2031, including two 5-year renewal options with 10% rent bumps every five years.
    Request Owner's contact information
    1808 Manchester Expy Columbus, GA 31904
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    Columbus, GA 31904
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1808 Manchester Expy Columbus, GA 31904
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