124 3Rd St Macon, GA 31201

Property Details for 124 3Rd St

Year built

1945

Lot size

1.00 lot acres

Property size

13,785 SF

Zone code

CBD-1

Property type

Medical offices

Property subtype

Medical centers

APN

R073-0108

APU

R0730108

Description

This exceptional investment opportunity features a 12,750 square foot, single-story urgent care facility situated on a one-acre lot in Macon, Georgia's historic district. The property is currently 100% occupied under a 12-year triple net (NNN) lease with Piedmont Urgent Care by WellStreet, commencing October 1, 2023, and expiring September 30, 2035, leaving 10.9 years remaining. The lease includes a 3% annual rent increase, ensuring consistent income growth. The asking price is $3,803,077, representing a price per square foot of $298.28 and a 6.50% cap rate based on a current net operating income (NOI) of $247,200. This investment offers a stable and predictable income stream with minimal landlord responsibilities due to the NNN lease structure. The tenant, Piedmont Urgent Care by WellStreet, is a prominent healthcare provider with a significant presence in Georgia, boasting 74 locations statewide. This location has a proven track record of success, having operated for approximately 25 years. The property's prime location within the Macon metro area ensures excellent accessibility. This is a low-maintenance, high-return investment ideal for those seeking a secure and lucrative opportunity in the healthcare sector.

Location Insight

City

Macon

County

Bibb

State

Georgia

Longitude

-83.624

Latitude

32.8389

CBSA code

31420

CBSA name

MACON, GA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments