$9,000,000 SALE
Office Bldg
43,500 SF
231 Riverside Drive
Macon, GA 31201 Investment Opportunity


Investment Opportunity (6.31 Cap) - "Ice House" Professional Office Building


This Class "A" Office is uniquely situated in downtown Macon, Georgia just off the entrance ramp to Interstate 16. Located on the only office property adjacent to the Ocmulgee River, this beautiful, high-end, office building is 100% occupied. The two long term tenants have occupied their spaces since 2007. The leases are full service with annual escalations based on CPI index. The anchor Tenant's lease of 38,864 RSF expires December 2031 with the secondary Tenant's lease expiring in 2022. Landlord is responsible for building maintenance, utilities and janitorial. TI Real Estate, the current management company is positioned to continue management for new ownership. This building is in pristine condition, with no deferred maintenance. Buyer may assume the mortgage which has a fixed rate of 4.58% for approximately 9 years.


Property Type Office Bldg
Year Built 2007
Renovated Year 2018
Max Continuous Area 43,500
Min Divisible Area 43,500
Zoning CBD1
Tax Year 2018
Listing ID 5T474B
Style Office Bldg -General
Building Size 43,500 SF
Lot Size 2.99 AC
Taxes $62,171

Property Highlights

PROPERTY HIGHLIGHTS • 43,500± SF Two-story, class "A", brick office building on approximately 2.99 acres • High end construction • Currently generating gross income of $945,382 annually - Cap Rate: 6.31% • Two long term tenants • Anchor tenant lease expires 12/31/2031 • Assumable 9 year fixed note at a 4.58 % interest rate • Buyer Profile: Investment Grade, Passive Property Video: https://www.goroundmedia.com/231-riverside-drive-macon-ga/

Area Description

Area Description: Downtown Macon, Bibb County, GA - Located in downtown Macon along the Ocmulgee River & Ocmulgee Heritage Trail

Additional Media Area Demographics

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