Aaron's | Triple Net Lease

810 South Madison Avenue, Douglas, GA

$603,388

Price

8.5%

Cap Rate

$51,288

NOI

Overview
Cap Rate
8.5%
NOI
$51,288
Building Size
16,000 sqft
Year Built
1971
Lease Expire Year
12/31/2022
Description

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.

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)
Documents

Location
Gallery