1501 13th Ave
Columbus, GA 31901
Midtown Columbus
HIGHLIGHTS
- Long-Term Lease Extension: The tenant recently extended their lease for an additional five years, bringing the remaining term to eight years
- Attractive Annual Rent Increases: The lease includes a 3% annual rent escalation, enhancing investment returns
- Established Tenant: iHeartRadio has successfully operated at this location for over 15 years
- Competitive Pricing: The property is priced significantly below replacement cost at $135 PSF
- Below Market Rent: Current rent is $14.19 PSF, well below the market rate of $20 PSF
- Strategic Market: Columbus is the third-largest city in Georgia and a vital economic hub, home to Ft. Moore, America’s 3rd largest Military base in US
FOR SALE DETAILS
PRICE
$1,601,164 USD
PRICE/SF
$135 USD /SF
CAP RATE
8.5%
% LEASED
-
TENANCY
Single
SALE TYPE
Investment
BUILDING DETAILS
PROPERTY NAME
iHeart Radio
PROPERTY TYPE
Office
TOTAL BUILDING SIZE
-
STORIES
1
BUILDING CLASS
C
YEAR BUILT
1983
SPRINKLERS
-
PARKING SPACES
-
LAND DETAILS
LAND ACRES
1.5 AC
LAND SF
65,340 SF
ZONING
-
APN/PARCEL ID
027-022-009
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