Mixed-Use Commercial Income Property

Description

This mixed-use property features 3 units. One unit is a warehouse in the rear which is in very high demand in the area. The warehouse has a long-term tenant in place which just signed a new multi-year lease. The front building has a new salon that just signed a 2-year lease. Building has had lots of improvements. The middle space is a parking area that leased to a large medical group that has locations nationwide. That user purchased the building next door in 2022 for $850,000. The medical group is putting substantial renovation into the building. That site has very limited parking necessitating the parking lot lease at 2325 Milledgeville. That lease is for 10 years and has renewal options. Rental rates on the warehouse and salon are below market.

Located on Milledgeville Road in Augusta, this mixed-use property is nearby many major thoroughfares in Richmond County including Deans Bridge Road, Gordon Highway, and Wrightsboro Road. The area is mostly industrial and commercial with multiple garages and warehouses in the surrounding area. A substantial renovation is taking place next door to provide a medical facility to the residents in the area.

Documents