3801 Northside Drive – Primary Eyecare
UNDER CONTRACT W. Scott Wilson Properties LLC is pleased to exclusively offer for sale the 6783-square-foot single-tenant medical office, Primary Eye Center, located at 3801 Northside Drive in Macon, Ga. (the“Property”). The offering is comprised of an approximately .51-acre plot, along with the fee-simple ownership rights to a single-tenant medical office that is 100% leased to MyEyeDr. Optometry of Georgia LLC a division of Capital Services LP. The property was completely renovated in January 2017 with almost $90/sq ft in renovations. The tenant has renewed early and there is just under nine(9) years left on the current term with two (2), five (5) year options to renew. The lease features five (5%) percent annual rental increases on the two options. With a net operating income of $136,000 this represents an attractive cap rate of 6.80%.
The Property is ideally located along Northside Drive, which sees more than 23,000 vehicles per day (VPD). The surrounding market also supports above national average household income of $60,000, There is more than one million square feet of retail within five miles of the subject with national brand tenants such as Kroger, Publix, Panera Bread, Starbucks, and Chick Flia. The local market has also experienced significant capital commitment with the new Spine Center under construction across the street by Ortho Georgia Orthopedic Surgery Center, one of the largest surgery centers of its kind in Georgia.
Bibb County, Macon, Georgia