600 Plant Ave Waycross, GA 31501
- Office space
Current Use by Public Records
- Department of Labor / City Employment Department
- Waycross Career Center, Georgia Department of Labor / Employment Agency
Property Details for 600 Plant Ave
- Property type
- Office space
Description
This exceptional investment opportunity presents a portfolio of three stabilized Class B creative office buildings in Waycross, Georgia, totaling $3,100,000 asking price and boasting a 9.00% cap rate. The portfolio enjoys 100% occupancy with a strong NOI of $278,895. The buildings are situated at 600 Plant Ave, Waycross, GA 31501. One building, occupied by the Department of Labor for over 30 years, recently underwent significant renovations including a new roof, electrical upgrades, interior and exterior painting, and new HVAC units, totaling $200,000-$250,000 in improvements. Another tenant, Diversified Resources Inc., a privately-owned corporation providing services to disabled and older adults, has occupied their three buildings for over 15 years and recently agreed to a 5-year lease renewal starting October 1st, 2024. Barnes Health, a tenant for over 10 years, recently renewed their lease for two years with a two-year option, and Lincare, a long-term tenant (lease through 2025), occupies 1650 square feet. Waycross Liquidators extended their lease until September 30th, 2026. All buildings feature new awnings. This portfolio offers a diversified tenant base with long-term leases, making it an attractive and stable investment opportunity. The modified lease structure provides additional flexibility. This is a multi-tenant property with a proven track record of success.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Waycross
- County
- Ware
- State
- Georgia
- Longitude
- -82.3559965
- Latitude
- 31.2124603
