Property History
Property Type
Property Type
Asking Details
Asking Price
Asking Cap Rate
Price/Sq Ft
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.
Property Type
Property Type
Marketing Description
Marcus & Millichap is pleased to present the exclusive listing for a 23,942-square foot corporate Staples located in Albany, Georgia on approximately 2.02 acres. The incoming investor has the opportunity to acquire a shorter-term fee- simple Staples asset that has been operating at this location since 2001. Staples recently exercised its first five-year option early, displaying strong conviction for this specific site.
The subject property benefits from strong frontage off of North Slappey Blvd, also known as US Highway 19, a main artery running North-South through the city of Albany. Albany is the third-largest MSA in Georgia, and just 167 miles south of Atlanta. The subject property benefits from access from both North Slappey Boulevard and Eager Street.
Albany is a city, in and the county seat of Dougherty County, Georgia, sitting at the center of Southwest Georgia. It is the principal city of the Albany, Georgia metropolitan area and the southwest part of the state. The population was 77,434 at the 2010 U.S. Census, making it the eighth largest city in Georgia. Healthcare, education and the Marine Corps Logistics Base Albany are the largest employers. Manufacturing, transportation, and retail trade are also important foundations of Albany's economy and the city acts as a hub for commerce in southwest Georgia. Albany provides opportunities to new businesses by providing a skilled workforce, continual upgrades to its infrastructure, improvements in public safety, such as its ISO fire rating of 2, and numerous economic development initiatives, such as its Opportunity Zone which offers a $3,500 tax credit per job created. The City of Albany's Recreation and Parks Department provides a diverse and comprehensive system of 77 park facilities throughout the City of Albany.
The subject property benefits from strong frontage off of North Slappey Blvd, also known as US Highway 19, a main artery running North-South through the city of Albany. Albany is the third-largest MSA in Georgia, and just 167 miles south of Atlanta. The subject property benefits from access from both North Slappey Boulevard and Eager Street.
Albany is a city, in and the county seat of Dougherty County, Georgia, sitting at the center of Southwest Georgia. It is the principal city of the Albany, Georgia metropolitan area and the southwest part of the state. The population was 77,434 at the 2010 U.S. Census, making it the eighth largest city in Georgia. Healthcare, education and the Marine Corps Logistics Base Albany are the largest employers. Manufacturing, transportation, and retail trade are also important foundations of Albany's economy and the city acts as a hub for commerce in southwest Georgia. Albany provides opportunities to new businesses by providing a skilled workforce, continual upgrades to its infrastructure, improvements in public safety, such as its ISO fire rating of 2, and numerous economic development initiatives, such as its Opportunity Zone which offers a $3,500 tax credit per job created. The City of Albany's Recreation and Parks Department provides a diverse and comprehensive system of 77 park facilities throughout the City of Albany.
Investment Highlights
- Corporate Guarantee | Staples, Inc.
- Strong National Tenant | NASDAQ: SPLS | 2016 Revenue of $21,059 Billion
- Exercised First Renewal Option Early Displaying Loyalty to Site
- Strong Frontage on North Slappey Blvd {US Highway 19)
- Strong Area Traffic Counts | Approximately 30k Vehicles Per Day
- Excellent Demographics | Over 82,000 People in 5-Mile Radius
- Minutes from Albany State University West Campus 1186-Acre Campus
- Retailers in the Immediate Vicinity Include Walgreens, Rite Aid, Dollar Tree,
- AutoZone, Wendy's, Hardee's,Taco Bell, Arby’s, Checkers, Save-A-Lot, and many more.
Loan History
Financial History
Tax History
Contact Information
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Ownership Information
Property Details
Contacts
Listing removed on
BY:
Simon Jonna PRO
LIC: MI 6501357188
•••.•••.1610
•imon@••••••••••.com
Listing removed on
BY:
Raymond Jonna
LIC: MI 6501357188
•••.•••.1611
•••mond@••••••••••.com
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