Aaron’s Douglas, Georgia

$603,388
Cap Rate: 8.50%
Available
Property type: Single-Tenant Net Lease

Property Details

Cap Rate: 8.50%
Price: $603,388
Rentable Square Feet: 16,000
Annual Rent: $51,288
Price PSF: $37.71
Land Area: 1.00 Acre
Year Built: 1971
Lease Guarantor: Corporate
Lease Type: NNN
Rental Increases: 10% Every 5 Years
Lease Expiration: 12/31/2022

810 South Madison Ave
Douglas, GA 31533

Investment Highlights

  • Tenant has Operated from this Location for Almost 30 Years
  • Extremely Low Rent and Price Per Square Foot
  • Triple Net (NNN), Corporate Guarantee Lease
  • One, Five-Year Option Period with 10 Percent Rent Increase
  • Tenant Spent Approximately $90,000 to Renovate, Showing Strong Commitment to the Location
  • Owned and Operated by Aaron’s, Inc. (NYSE: AAN)
  • Aaron’s has More Than 1,600 Company-Operated and Franchised Stores Throughout 47 States and Canada
  • Surrounding National Retailers Include Walmart Supercenter, Lowe’s, Belk, Bealls, Hibbett Sports, Anytime Fitness, Goody’s, AutoZone, Tractor Supply Company, Taco Bell, Ruby Tuesday, McDonald’s, Wendy’s, Walgreens and Many More

 

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire a 16,000-square-foot, free-standing Aaron’s in Douglas, Georgia. This Aaron’s has a triple net, Corporate guarantee lease. The tenant has operated from this location for almost 30 years and recently spent approximately $90,000 to renovate, showing strong commitment to the location. This lease offers extremely low rent and price per square foot.

Located in Downtown Douglas, surrounding national retailers include Walmart Supercenter, Lowe’s, Belk, Bealls, Hibbett Sports, Anytime Fitness, Goody’s, AutoZone, Tractor Supply Company, Taco Bell, Ruby Tuesday, McDonald’s, Wendy’s, Walgreens and many more. The subject property is one half mile from South Georgia State College, which has a total undergraduate enrollment of over 2,000 students. This Aaron’s is also one mile from Wiregrass Georgia Technical College, and two miles from Coffee Regional Medical Center. Douglas, Georgia is a mid-point between Macon, GA to the north, and Jacksonville, FL to the south.


 

John Leonard

Broker of Record

Atlanta Lic.# 252904

John.Leonard@marcusmillichap.com

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