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t r a n s l a t e

Industrial Distribution Warehouse | ± 48,000 SF | 8.4% Cap Rate

3101 Hillcrest Avenue
Macon, GA 31204
PRICE : $2,000,000
CAP RATE: 8.4%
PROPERTY TYPE: Industrial
SITE SIZE: 3.73 Acres
BUILDING SIZE: 48,000 SF
YEAR BUILT: 1965

Highlights

  • Sale-leaseback opportunity at an 8.4% cap rate
  • NNN lease with 7-year term at $3.50/SF with 3.0% annual escalations
  • ± 48,000 SF industrial property in Macon, GA
  • Located in Hillcrest Industrial Park within a Qualified Opportunity Zone
  • Includes ± 1,900 SF of office space
  • Surface asphalt parking allows for ample spaces with room for expansion

Description

Bull Realty is pleased to present the sale-leaseback of a ± 48,000 SF industrial warehouse property located at 3101 Hillcrest Avenue in Macon, GA. This ± 3.73-acre parcel is generally level and located at the corner of Hillcrest Avenue and Hillcrest Industrial Boulevard with good access and visibility from both streets. In addition to the building, there are a surplus of parking spaces and features a covered concrete delivery deck on the side of the building.

The tenant, Optimal Sante, LLC, is a North Carolina company founded by request and out of necessity to aid in the procurement of PPE for companies such as Pfizer, Bigen, Duke Energy and International Paper.

The tenant has a 7-year NNN lease in place which commences upon closing of the sale-leaseback. The lease rate in year one is $3.50/SF and increases 3% annually. There are two renewal options which include the same escalations as the initial term. The asking price is $2,000,000 which delivers the property to market at a 8.4% cap rate.

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