660 North Ave – Baconsfield Shopping Center

***OPPORTUNITY ZONE***

W. Scott Wilson Properties, LLC is pleased to offer Baconsfield Shopping Center, a 36,595 sq ft Kroger shadow strip center in Macon, Ga. Great opportunity to acquire a well-maintained multi-tenant commercial plaza with a stabilized cash flow already in place. The subject property is in a Federal Opportunity Zone, an attractive investment vehicle created for investors to take advantage of the recent tax code changes. The changes allow for a reduction in capital gains tax through investments in qualified Opportunity Zones.

The property is located at the intersection of Gray Highway(43,900 VPD) and I-16 (83,900 VPD) and serves all of the downtown Macon area and East Macon. The Kroger is a corporately owned store. The small shop occupancy historically has been 90% and above for many years and currently has 100% occupancy. Most have been there for many years with some over 15 years or longer. Grifols Biomat , the largest tenant , is a national plasma center that elected to exercise their first 5-year renewal early and currently have until 9/30/2024 until lease expiration. El Sombrero is the second largest tenant has been in the center since 1993.

HIGHLIGHTS

  • Located in a Federal Opportunity Zone
  • Stabilized Income
  • Long term assumable Financing
  • 100% Occupied

SALE NOTES

Prime investment opportunity located in an Opportunity Zone with assumable financing in place.

FINANCIAL SUMMARY (ACTUAL – 2018)

ANNUAL ANNUAL PER SF
Gross Rental Income $556,848 15.22
Other Income $48,876 1.34
Vacancy Loss $30,286 0.83
Effective Gross Income $575,438 15.72
Taxes $26,904 0.74
Operating Expenses $74,111 2.03
Total Expenses $101,015 2.76
Net Operating Income $474,423 12.96

AMENITIES

  • Bus Line
  • Freeway Visibility
  • Corner Lot
  • Monument Signage
TRAFFIC

COLLECTION STREET CROSS STREET TRAFFIC VOL YEAR DISTANCE
Nottingham Dr Senate Pl, NW 3,939 2017 0.04 mi
Nottingham Dr Baconsfield Dr, NW 3,370 2016 0.04 mi
North Ave Nottingham Dr, N 43,900 2016 0.12 mi
I- 16 North Ave, S 18,800 2016 0.16 mi
I-16 North Ave, SE 81,540 2017 0.17 m
  • Price: $5,930,278 
  • Acres: 36,595 sq ft 
  • Utilities: Electricity, Water, Cable, Internet, and Sewer 
  • Roads: Paved 
  • Active?: Yes