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Mission Square
3706 Mercer University Dr, Macon, GA 31204
Listing Price: $2,499,000
Investment Overview
Marcus & Millichap is pleased to present Mission Square for sale in Macon, Georgia. This Property features 28 units, currently of which 26 are leased accounting for 92.58% of the GLA. The property boasts average rents of $12.54/SF (Landlord doesn’t collect reimbursements, approximately 12 tenants call for PRS tax/insurance) where the market average is at $14.89/SF NNN.
Lower-than-average rental rates across the board support long-term NOI growth and can help ensure immediate term tenant success. The property is currently priced at just $99.96 per square foot, and an 8.02% cap rate based on existing collections. The Year 2 NOI, reflecting reimbursement collections from NN tenants and scheduled annual rent escalations, is $241,891 — representing an 9.68% cap rate. Considering these factors, Mission Square presents an excellent investment opportunity for retail investors.
Mission Square
Investment Highlights
- 8.02 Percent Cap Rate and 7.66 Percent Cash on Cash (Debt Quote in Financials Section) Year One on Existing Collections
- Vacancy in the Overall Market Sits at 5.2 Percent (Source: Costar), Mission Square Currently has 12.6 Percent of the GLA Vacant, Offering More Upside Through Leasing of Another Unit
- Five Universities in the Macon MSA Help to Drive a Strong Economy, and act as a Catalyst for Future Economic Growth and Lasting Economic Competitiveness
Exclusively Listed By
Broker of Record
Financing By
Listing Price: $2,499,000
Investment Highlights
- 8.02 Percent Cap Rate and 7.66 Percent Cash on Cash (Debt Quote in Financials Section) Year One on Existing Collections
- Vacancy in the Overall Market Sits at 5.2 Percent (Source: Costar), Mission Square Currently has 12.6 Percent of the GLA Vacant, Offering More Upside Through Leasing of Another Unit
- Five Universities in the Macon MSA Help to Drive a Strong Economy, and act as a Catalyst for Future Economic Growth and Lasting Economic Competitiveness
Investment Overview
Marcus & Millichap is pleased to present Mission Square for sale in Macon, Georgia. This Property features 28 units, currently of which 26 are leased accounting for 92.58% of the GLA. The property boasts average rents of $12.54/SF (Landlord doesn’t collect reimbursements, approximately 12 tenants call for PRS tax/insurance) where the market average is at $14.89/SF NNN. Lower-than-average rental rates across the board support long-term NOI growth and can help ensure immediate term tenant success. The property is currently priced at just $99.96 per square foot, and an 8.02% cap rate based on existing collections. The Year 2 NOI, reflecting reimbursement collections from NN tenants and scheduled annual rent escalations, is $241,891 — representing an 9.68% cap rate. Considering these factors, Mission Square presents an excellent investment opportunity for retail investors.
Exclusively Listed By
Broker of Record
Financing By
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