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Office Supply

Office Depot

2406 Westgate Dr, Albany, GA 31707

Listing Price: $3,000,000

Cap Rate
7.65%
Tenant Name
Office Depot, Inc.
Years Remaining On Lease
5.4
Gross SF
29,977
Guarantor
Corporate Guarantee
Rentable SF
19,181
Price/Gross SF
$100.08
Lease Type
Double Net
Rent Per Square Feet
$13.00

Investment Overview

Marcus & Millichap is pleased to offer for sale the fee simple interest in a 29,977-square-foot freestanding retail building in Albany, GA, in which Office Depot has over five years remaining on their previously extended long-term double net lease. The lease also features numerous renewal options and rental increases to offset inflation. Office Depot currently occupies 19,181 square feet with an additional 10,796 square feet of retail space available for lease, making this a unique value-add investment opportunity. The large 3.13-acre lot is located near the signalized corner of Westgate Drive and Dawson Road, receiving maximum visibility to over 34,700 vehicles per day. Nearby national retail tenants include Walgreens, BP, Dairy Queen, Domino’s Pizza, Dunkin’, Dollar General, Taco Bell, Family Dollar and numerous others. Additionally, the property is adjacent to numerous medical facilities, including the Phoebe Physical Medicine Center and Albany Vascular Specialist Center.

Investment Highlights

  • Value-Add Opportunity – 10,796 Square Feet of Retail Space Available for Lease
  • Strong Commitment to the Site — Office Depot Has Been at This Location for 25 Years
  • Over Five Years Remaining on Double Net Lease — Minimal Landlord Responsibilities
  • Two, Five-Year Renewal Options With Attractive Rental Increases in Each Option
  • Prime Retail Corridor – Taco Bell, Dairy Queen, BP, Dunkin', Family Dollar and More

Exclusively Listed By

Broker of Record

  • John M. Leonard

    First Vice President/Regional Manager

    (678) 808-2700

    License(s) GA: 252904

    Georgia

Office Supply

Office Depot

Listing Price: $3,000,000

Cap Rate
7.65%
Tenant Name
Office Depot, Inc.
Years Remaining On Lease
5.4
Gross SF
29,977
Guarantor
Corporate Guarantee
Rentable SF
19,181
Price/Gross SF
$100.08
Lease Type
Double Net
Rent Per Square Feet
$13.00

Investment Highlights

  • Value-Add Opportunity – 10,796 Square Feet of Retail Space Available for Lease
  • Strong Commitment to the Site — Office Depot Has Been at This Location for 25 Years
  • Over Five Years Remaining on Double Net Lease — Minimal Landlord Responsibilities
  • Two, Five-Year Renewal Options With Attractive Rental Increases in Each Option
  • Prime Retail Corridor – Taco Bell, Dairy Queen, BP, Dunkin', Family Dollar and More

Investment Overview

Marcus & Millichap is pleased to offer for sale the fee simple interest in a 29,977-square-foot freestanding retail building in Albany, GA, in which Office Depot has over five years remaining on their previously extended long-term double net lease. The lease also features numerous renewal options and rental increases to offset inflation. Office Depot currently occupies 19,181 square feet with an additional 10,796 square feet of retail space available for lease, making this a unique value-add investment opportunity. The large 3.13-acre lot is located near the signalized corner of Westgate Drive and Dawson Road, receiving maximum visibility to over 34,700 vehicles per day. Nearby national retail tenants include Walgreens, BP, Dairy Queen, Domino’s Pizza, Dunkin’, Dollar General, Taco Bell, Family Dollar and numerous others. Additionally, the property is adjacent to numerous medical facilities, including the Phoebe Physical Medicine Center and Albany Vascular Specialist Center.

Exclusively Listed By

Broker of Record

  • John M. Leonard

    First Vice President/Regional Manager

    (678) 808-2700

    License(s): GA: 252904

    Georgia

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