Bought with Boyd Smith • Drake Realty Lake Area, LLC
$490,000
$535,000
8.4%For more information regarding the value of a property, please contact us for a free consultation.
0.77 Acres Lot
SOLD DATE : 10/31/2022
Key Details
Sold Price $490,000
Property Type Commercial
Listing Status Sold
Purchase Type For Sale
Subdivision None
MLS Listing ID 10082341
Sold Date 10/31/22
Construction Status Resale
Year Built 2007
Annual Tax Amount $2,218
Tax Year 2021
Lot Size 0.770 Acres
Property Description
This store front flex space is truly a unique investment find. The current tenant is 6 months into a 3 year lease. The property's Year 1 NOI is $37,250 resulting in a 6.96% Cap Rate. The property currently functions as a thrift store with offices and warehouse. The warehouse portion is approximately 2,600 SF, split into two sections, each featuring a restroom and an 8' grade level rollup door. The back right section of the warehouse also features a kitchenette/breakroom and an additional warehouse office. You won't find a better flex property than this one. If the tenant ever vacates, there are 2 power meters, making it easy to split the facility into two separate suites. Located just outside of Downtown Watkinsville off of Hwy 15 in Oconee County, 1450 Greensboro Hwy is convenient to Athens, Watkinsville, and Lake Oconee. Located in the Watkinsville City limits, this property is only 15 minutes to downtown Athens and just 30 minutes to Lake Oconee.1. Leased with 2.5 Years Remaining, 2. Year 1 Net Operating Income of $37,250, 3. 2,600+/- SF Warehouse with Two 8' Rollup Doors, 4. Large Open Store Front with Great Natural Light, 5. Just Minutes from Downtown Watkinsville in Oconee County
Location
State GA
County Oconee
Zoning Commercial,Freestanding
Interior
Heating Electric, Central
Cooling Central Air, Electric
Flooring Other
Exterior
Garage Parking Lot
Utilities Available Sewer Available, Water Available
Roof Type Other
Building
Sewer Other
Construction Status Resale
Others
Financing Conventional
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