Current Use by Public Records
- Specialty properties
Property Details for 118 Old Evans Rd
- Year built
- 1989
- Lot size
- 1.16 lot acres
- Property type
- Specialty properties
- Property subtype
- Schools
Description
This fee-simple investment opportunity presents a 10,490-square-foot childcare center, Cornerstone Academy, situated on a 1.16-acre lot in Martinez, GA. The property boasts a strong 20-year triple-net (NNN) lease with approximately 16.6 years remaining, commencing June 5, 2021, and expiring June 30, 2041. The current annual net operating income (NOI) is $165,608, representing a 7.00% cap rate on the $2,365,829 asking price. The lease includes a corporate guarantee from LEAP Education Partners, a growing early childhood education provider with multiple locations. Annual rent increases of 2% are scheduled to begin in July 2027. The property is 100% occupied and benefits from a prime location less than five miles from the Augusta National Golf Club, within a high-demand area with a strong local economy and favorable demographics. The surrounding area has over 132,000 residents within a five-mile radius, and average household incomes within three miles exceed $100,000. The property's proximity to Doctors Hospital of Augusta, a major healthcare facility, further enhances its appeal. Built in 1989, this investment offers long-term stability, growth potential tied to the tenant's expansion plans, and an attractive market position. The median age within five miles is 38.9 years, ideal for early childhood education services.
Value Estimations
-
AI approach
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Martinez
- County
- Columbia
- State
- Georgia
- Longitude
- -82.0964
- Latitude
- 33.5138
