3004 Riverwatch Lane

    Augusta, GA 30907
    • $600,000
    • STATUS: Active
    • ON SITE: 62 days
    • MLS #: 436268
    UPDATED: 78 min ago
    $600,000
    • 0
      BEDS
    • N/A
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 5,400
      SQFT
    • $111
      $/SQFT
    Neighborhood:
    Type:
    Commercial
    Built:
    2004
    County:
    Area:

    School Ratings & Info

    Description

    Two buildings next to each other rented to the same tenant. Great tenant. Lease rate is currently $10 per sqft and goes up to $11.25 in mid 2019. Landlord and tenant have done a lot of improvements to property and it is expected that tenant will stay in property long term. Current lease was signed in June 2018 and expires in May 2020. Tenant does have first right of refusal to purchase. Net Income today is $47,785 and after increase bumps to $54,504. Fair market rent is closer to $12.50-$13.50 per sqft. Current lease is a modified gross with landlord being responsible for HVAC and roof both of which are in great condition. There is an assumable first mortgage on property but the loan has a short amortization term. Currently a 7.96% cap rate but with rent increase it bumps to over a 9.0% cap rate in 2019.

    Monthly Payment Calculator



    IDX information © 2019 Greater Augusta Association of Realtors. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is believed to be accurate but not guaranteed by the MLS or REMAX Reinvented | Natalie Poteete Team. Data last updated 2019-03-20T18:55:39.623.
    www.augustageorgiaagent.com/homes/90945914

    3004 Riverwatch Lane Augusta, GA 30907

    • Price: $600,000
    • Status: Active
    • Updated: 78 min ago
    • MLS #: 436268
    0
    Beds
    0
    Baths
    0
    ½ Baths
    N/A
    Acres
    5,400
    SQFT
    $111
    $/SQFT
    2004
    Built
    Neighborhood:
    None-1Ri
    County:
    Richmond
    Area:
    Augusta
    Property Description
    Two buildings next to each other rented to the same tenant. Great tenant. Lease rate is currently $10 per sqft and goes up to $11.25 in mid 2019. Landlord and tenant have done a lot of improvements to property and it is expected that tenant will stay in property long term. Current lease was signed in June 2018 and expires in May 2020. Tenant does have first right of refusal to purchase. Net Income today is $47,785 and after increase bumps to $54,504. Fair market rent is closer to $12.50-$13.50 per sqft. Current lease is a modified gross with landlord being responsible for HVAC and roof both of which are in great condition. There is an assumable first mortgage on property but the loan has a short amortization term. Currently a 7.96% cap rate but with rent increase it bumps to over a 9.0% cap rate in 2019.
    Exterior Features

    Land Description Other-See Remarks Land Options Other-See Remarks Land Use Other-See Remarks Lot Size 0.06 Parking Description Paved Possible Land Use CommercialOfficeLight Industrial Road Access Other-See Remarks Road Frontage 51 Road Surface Paved Roof Description Pitched/Sloped Topography Other-See Remarks

    Property Features

    Average Depth 180 Building Type Free Standing Current Building Use RetailIndustrial Development Status Other-See Remarks Electric Other-See Remarks Full Service No Improvements Other-See Remarks Information Available Other-See Remarks Offering Other-See Remarks Possession At Close Possible Building Use ChurchPersonalRetailShowroomOtherOffice Property Type Warehouse Restrictions Other-See Remarks Sale Or Lease Included Other-See Remarks Sewer Public Sewer Tenancy M Utilities Other

    Listing courtesy of Sherman & Hemstreet Real Estate.


    IDX information © 2019 Greater Augusta Association of Realtors. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is believed to be accurate but not guaranteed by the MLS or REMAX Reinvented | Natalie Poteete Team. Data last updated 2019-03-20T18:55:39.623.
     
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