DEALS

Deals

888 Pierce Avenue – Macon, GA

THE OPPORTUNITY

  • 100% occupied center
  • ​Income stability: 2 new, long-term leases
  • ​Dollar General: 10 years
  • ​Buddy’s Furniture: 10 years
  • ​Tenant longevity
  • ​Mattress Barn has been located at the center since 2012
  • ​81% occupied by national tenants
  • ​81% of the rental income from national tenants
  • ​LED lights in the parking field
  • ​New roof at Dollar General and Mattress Barn
  • ​Buddy’s roof is 8 years old
  • ​New HVAC units installed for all tenants

THE HIGHLIGHTS

  • Located along primary north/south thoroughfare in the Macon market, Riverside Drive
  • ​Macon is the largest city and economic hub of Central Georgia
  • ​Accessibly to I-75
  • ​Investment grade credit rating with Dollar General
  • ​S&P: BBB
  • ​Moody’s: Baa2
  • ​Buddy’s has rental increase in 2027
  • ​No renewal for Mattress Barn providing the Landlord with flexibility when their term expires in 2025
  • ​Dollar General has a large grocery offering at this location
  • ​No grocery competition within 2 miles

THE DEAL POINTS

  • Square Feet: 32,676 SF
  • Asking Cap Rate: 7.25%
  • Asking Price: $3,324,000
  • Year Built: 1963
  • NOI: $241,000
  • Occupancy: 100%

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