1808 Manchester Expy Columbus, GA 31904

Property Details for 1808 Manchester Expy

Year built

2010

Construction

WOOD

Lot size

1.14 lot acres

Property size

6,771 SF

Property type

Commercial real estate

APN

034 026 007

APU

34026007

Description

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).

Location Insight

City

Columbus

County

Muscogee

State

Georgia

Longitude

-84.9653

Latitude

32.5066

CBSA code

17980

CBSA name

COLUMBUS, GA-AL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments