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Lowe’s

3190 Macon Tech Drive, Macon, GA, USA
$11,151,040 7.50% Cap 130,729 sq ft Built 1997 Representative Photo Print This Page

Location

3190 Macon Tech Drive, Macon, GA, USA

Price: $11,151,040
Cap Rate: 7.50%
Net Operating Income: $836,328
Square-Footage: 130,729
Lot Size: 25.44 AC
Year Built: 1997

100% Fee Simple InterestNet Leased OfferingRated CreditScheduled IncreasesStrong DemographicsSurrounded by Major Retailers

The subject offering is a 130,729 square foot Lowe’s Home Improvement Center situated on 25.44 acres located in Macon, Georgia. The fee simple net lease is corporately guaranteed by Lowe’s Companies Inc. (NYSE:LOW). Lowe’s Companies Inc. maintains an Investment Grade ‘A’ Rating from S&P. The asset is strategically located on a highly trafficked commercial thoroughfare and is well positioned in Macon’s main retail corridor.

Lowe’s Companies Inc. is subject to a net lease. There are 8 years remaining on the initial term and scheduled rental increases of 10% in each of the six, 5-year option periods. The lease calls for minimal landlord obligations, the landlord is responsible for roof and structure and the tenant is responsible for the parking lot.

Macon lies near the geographic center of the state, approximately 85 miles (137 km) south of Atlanta, hence the city's nickname "The Heart of Georgia."

Located near the fall line of the Ocmulgee River, Macon is the county seat of Bibb County and had a 2017 estimated population of 152,663. Macon is the principal city of the Macon metropolitan area, which had an estimated population of 228,914 in 2017. Macon is also the largest city in the Macon–Warner Robins Combined Statistical Area (CSA), a larger trading area with an estimated 420,693 residents in 2017; the CSA abuts the Atlanta metropolitan area just to the north.

Macon is served by three interstate highways: I-16 (connecting the city to Savannah and coastal Georgia), I-75 (connecting the city with Atlanta to the north and Valdosta to the south), and I-475 (a city bypass highway).

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Kase Abusharkh Founding Principal View profile
Jacob Abusharkh Managing Principal View profile

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