Northside Dr And Peg-Wen Blvd, Statesboro, GA 30461
- Retail properties & Spaces
- 7,200 SF
- 0.90 lot acres
Current Use by Public Records
- Retail properties & Spaces
Property Details for 0 Northside Dr And Peg-Wen Blvd
- Year built
- 2024
- Lot size
- 0.90 lot acres
- Property type
- Retail properties & Spaces
- Property subtype
- Apartment buildings
Description
This exceptional 7,200 square foot apartment building in Statesboro, Georgia, presents a compelling investment opportunity. Built in 2024, the property boasts a 100% occupancy rate with a strong net operating income (NOI) of $221,160, yielding a 6.75% capitalization rate. The asking price is $3,276,000. Situated on a 0.9-acre lot at the intersection of Northside Drive and Peg-Wen Blvd, this asset benefits from its prime location within a thriving commercial corridor. The property enjoys excellent visibility and accessibility, adjacent to a major highway bypass (US-301 Bypass with 25,700 average annual daily traffic) and features full turn accessibility on Northside Drive East. Its strategic location is further enhanced by its proximity to a high-performing Lowe's Home Improvement store and a significant concentration of retail establishments within a one-mile radius, including Walmart, Lowe's, Panera Bread, Chick-fil-A, and Starbucks. The property is also less than 2.2 miles from Georgia Southern University, a major university with over 25,506 students and over 2,000 faculty and staff, contributing significantly to the area's economic vitality. The leases are structured as NNN (Net, Net, Net), minimizing landlord responsibilities. The current leases have built-in rental increases throughout the base term and option periods, providing long-term financial stability. The property's proximity to the new $5.5 billion, 16 million square foot Hyundai EV assembly plant further underscores its growth potential. This newly constructed building minimizes potential capital repair expenses for the new owner, with warranties to be assigned. The lease term remaining is 15 years, commencing January 31, 2025.
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
- Statesboro
- County
- Bulloch
- State
- Georgia
- Longitude
- -81.7519
- Latitude
- 32.4319
