404 5th Ave Manchester, GA 31816-1334

Property Details for 404 5th Ave

Year built

2003

Construction

FRAME

Lot size

0.89 lot acres

Property size

6,872 SF

Zone code

1

Property type

Outlet malls

APN

MA11- -234

APU

MA11234

Description

This exceptional investment opportunity presents a 7,000-square-foot auto parts store in Manchester, Georgia, boasting a strong 6.75% cap rate. Located at 404 N 5th Ave, 31816, this single-story building sits on a 0.89-acre lot and was constructed in 2003. The property features a Net Lease (NN) with a corporate guarantee from an investment-grade tenant (Baa3 Moody's Credit Rating), minimizing landlord responsibilities. The current lease, with a remaining term of 7.1 years, includes two 5-year options, extending the lease to 2031. The tenant has a history of lease extensions, demonstrating their commitment to the location. With a low rent-to-sales ratio (under 4%), the $9.29 per square foot rent is significantly below replacement cost. The property benefits from excellent visibility on N 5th Ave (12,500+ vehicles per day) and is strategically positioned within the Columbus, GA MSA (population exceeding 323,700 in 2023), surrounded by a desirable consumer base with an average household income of $64,898 within a 5-mile radius. The nearest competitor is situated 18.5 miles away, ensuring a lack of immediate competition. The asking price is $963,000, representing a price per square foot of $137.57, and the property generates a net operating income (NOI) of $65,000. This is a rare opportunity to acquire a well-located, stable, and high-performing investment property.

Location Insight

City

Manchester

County

Meriwether

State

Georgia

Longitude

-84.6201

Latitude

32.8588

CBSA code

12060

CBSA name

ATLANTA-SANDY SPRINGS-MARIETTA, GA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments