Current Use by Public Records
- Family Dollar / Discount Store
Property Details for 2529 Houston Ave
- Year built
- 1996
- Lot size
- 1.04 lot acres
- Property type
- Retail properties & Spaces
- Property subtype
- Retail space
Description
This exceptional investment opportunity presents a single-tenant, 8,000-square-foot Family Dollar store situated on a 1.04-acre lot in Macon, Georgia. The property, built in 1996 and boasting a Class B rating, benefits from a highly visible location at the signalized intersection of Highway 80 and Houston Avenue, experiencing significant daily traffic volume from Highway 80 (27,660 vehicles) and Interstate 75 (78,100 vehicles). Its proximity to Macon University (nearly 12,000 students and staff) further enhances its appeal. The property features a Net Lease (NN) structure with a long-term lease extending until May 30, 2033, offering a remaining lease term of 8.5 years. The current annual net operating income (NOI) stands at $90,000, representing an 8% cap rate and a price per square foot of $140.62. The lease includes built-in rent bumps of 10% every five years, ensuring consistent income growth. Recent improvements include a resealed and restriped parking lot (April 2024) and a roof replacement in 2016 with a transferable warranty valid until June 2036. The property is zoned C-2 and enjoys a 100% occupancy rate. This investment offers a compelling combination of strong tenant occupancy, a favorable lease structure, and a prime location within a thriving retail corridor. The tenant is responsible for HVAC and other specified expenses as outlined in the lease agreement.
Value Estimations
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Macon
- County
- Bibb
- State
- Georgia
- Longitude
- -83.6454
- Latitude
- 32.8144
