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Riverside Commons, Macon, GA

Riverside Commons

GA, United States

Price $4,287,000
Cap Rate
NOI
Lease Term Various
Lease Type NNN
Rental Increases Various
Year Built 2006
Building Size 15,080 SF
Lot Size 1.48 Acres (64,469 SF)
Status Under Contract
Lead Broker Information Vince Aicale
Executive Director
415.690.5522
vince.aicale@cushwake.com
CA RE License #01728696

Ryan Forsyth
Executive Director
415.413.3005
ryan.forsyth@cushwake.com
CA RE License #01716551

Cushman and Wakefield Inc. LIC. # 00616335
This property is listed in conjunction with Georgia-licensed real estate broker Delta Commercial.

Investment Highlights

ESTABLISHED MULTI-TENANT RETAIL CENTER WITH SCHEDULED RENTAL INCREASES
» Corporate leases to well-known national tenants, including Panda Express, Chipotle, and Five Guys
» Scheduled rental increases, providing a hedge against inflation
» Historical record of long-term tenant occupancy, along with several recent lease extensions, demonstrating commitment to the location

HIGH-TRAFFIC LOCATION IN DENSE RETAIL CORRIDOR
» Located just past the signalized intersection of Tom Hill Senior Boulevard and Riverside Drive, which experiences a high traffic count of 45,137 vehicles per day
» Located directly off of Interstate 75’s Riverside Drive exit
» Interstate 75 (64,900 AADT) serves as the main route between Atlanta and Macon and is a heavily trafficked corridor
» Adjacent to North Park, a retail plaza anchored by Kroger and Kmart and featuring Boost Mobile, Plato’s Closet, MetroPCS, Sally Beauty Supply, O’Reilly Auto Parts, and several others
» Directly across from Publix-anchored shopping center, tenanted by major national tenants, including Tuesday Morning, Pet Supermarket, Planet Fitness, and Buffalo Wild Wings

CENTRAL LOCATION WITH AFFLUENT DEMOGRAPHICS
» Close proximity to downtown Macon and several schools, including Middle Georgia State University (8,000 students), Mercer University (over 8,600 students and 1,690 employees), and Central Georgia Technical College (7,796 students)
» High average household income of $83,323 within a three-mile radius

Click Here to Download Offering Memorandum


Property Description

The property is located just past the signalized intersection of Tom Hill Senior Boulevard and Riverside Drive, which experiences a high traffic count of 45,137 vehicles per day. The property is also located directly off of Interstate 75’s Riverside Drive exit. Interstate 75 serves as the main route between Atlanta and Macon and is a heavily trafficked corridor, with a traffic count of 64,900 vehicles per day. The property is located in a dense retail area, with close proximity to several large shopping centers and major national tenants. The property is adjacent to North Park, a retail plaza anchored by Kroger and Kmart and featuring Boost Mobile, Plato’s Closet, MetroPCS, and others. A Publix-anchored shopping center is across the street from the property. Other notable retailers in this center include Tuesday Morning, Pet Supermarket, and Buffalo Wild Wings. The property is also just over two miles from The Shoppes at River Crossing, an open-air lifestyle center with nearly 100 well-known retailers, including Barnes & Noble, Belk, Dillard’s, Dick’s Sporting Goods, and H&M. Other notable tenants near the property include Chick-fil-A, Hampton Inn, Walmart Supercenter, CVS, Lowe’s, McDonald’s, and many more.

The property is centrally located just over five miles from downtown Macon. Several schools are located just minutes from the property, including Wesleyan College, with 700 students; Middle Georgia State University, with 8,000 students; Mercer University, with over 8,600 students and 1,690 employees; and Central Georgia Technical College, with 7,796 students. Additionally, the property is surrounded by affluent residential neighborhoods and benefits from a strong customer base in the immediate area. The average household income within a three-mile radius of the property is $83,323, which is more than 36% higher than Georgia’s average.

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