Staples
Retail | 8.70% CAP | 23,942 SqFt
Marketing description
Matthews™ is pleased to exclusively offer the opportunity to acquire the fee simple interest in the Staples located at 501 N Slappey Blvd Albany, GA 31701 (the "Property"). An ±23,942 square-foot single tenant building on ±2.02 A.C., located on the hard corner of Slappey and Eager Drive, with multiple ingress and egress points paired with ample parking and significant daily traffic ±29,000 VPD. This short-term net lease asset is adjacent to Wendy's, Zaxby's Chicken Fingers, Mavis Tire, Krispy Kreme and additional national retailers and market drivers that attract daily visitors from the surrounding area. To pair with the location, Staples just signed a 3-year extension through March of 2029, showing additional commitment to the site. This investment allows qualified investors an opportunity to purchase a short-term below market asset in a great corridor with significant future upside.
Investment highlights
- Recent Lease Extension - Staples Recently signed an extension for an additional 3 years through 3/31/2029. The tenant will have two remaining options with increases.
- Over 25-Year Operating History - Staples has operated at this location since September 1999, demonstrating this store's successful operational history and longevity for the tenant. Nearby OfficeDepot also recently extended lease, demonstrating sector strength in the area.
- Below Replacement Cost – This opportunity to acquire the fee simple real estate is significantly below replacement cost at ±$96 per SF.
- Future Development Opportunity – Large Parcel (2.02 AC) with excellent visibility – directly off of N Slappey Blvd which sees ±29,000 VPD.
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