Downtown Augusta Investment Property

215 10th St, Augusta, GA 30901

  • For Sale $1,799,000
  • Property Type Retail - Street Retail
  • Property Size 9,072 SF
  • Units 5
  • Lot Size 0.12 Acre
  • Additional Rent Contact for pricing
  • Year Built 1888
  • Date Updated Oct 30, 2024
This property is located on the 10th Block of Downtown Augusta, GA, and is located in the heart of the central business district of Augusta. It is located across the street from two local favorite restaurants (owned and operated by the Frog Hollow Group); Taco Cat and Pho Ramen and surrounded by many more on Broad Street. This truly is one of the premiere corridors in all of downtown for cuisine, which means ample foot traffic and only increasing demand for this location long-term. It is also in close proximity to the Medical District which consists of Piedmont Hospital, the VA, Children's Hospital, AU Hospital, Medical College of Georgia, and more. Lastly, it is located close to the Georgia Cyber Center and Augusta University. With its close proximity to the medical district and college of nursing, dental college, and medical college, there is a high demand for nice residential units in the downtown area.The Finem Group at Meybohm Commercial is proud to exclusively present this prime downtown Augusta investment opportunity for sale. The leased building is ±9,072 square feet of space located off Tenth Street. It is a mixed-use building that features two bottom restaurant spaces and three upstairs apartment units. Both the restaurant and the apartment spaces are in very good condition. In the last couple of years, the owner has repaired the roof (2018), AC units (3) replaced in the upstairs lofts, 35 exterior windows replaced (2019), and repainted the exterior (2021). The property features a brand new 5-year NNN lease for one of the restaurant spaces. This lease features 4% annual increases. The other restaurant space has 1.5 years left on its lease and has 5% annual increases. Two of the apartment units are fully furnished with one being used as an Air Bnb while the other is leased out to a tenant. Lastly, the other apartment unit is leased out to a tenant. This property makes the perfect opportunity for a real estate investor wanting cash flow day one and a premium building in a growing downtown located at one of the premiere trafficked intersections in all of downtown. * The seller currently has active lease-to-own agreements for restaurant equipment with two tenants. It may be in the buyer’s best interest to assume these contracts as a part of the acquisition. Additional details available upon request (Not included in shown sales price).

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Highlights

  • LIST PRICE: $1,799,000
  • FULLY RENOVATED DOWNTOWN PROPERTY
  • YEAR 1 NOI $149,419 | 7.87% CAP RATE
  • 2 RESTAURANTS/BARS | 3 APARTMENTS
  • FULLY LEASED OUT: This investment property is fully leased out with two retail tenants on the bottom floor and three apartment units on the top. One of the apartment units is being used as a fully furnished Air Bnb which could easily be transitioned to a leased out apartment unit.
  • BRAND NEW RETAIL LEASE: This property features a brand-new 5-year NNN lease occupied by Lennox of Broad. The lease features a pro rata share reimbursement of taxes and insurance along with 4% annual rent increases.
  • STRONG RENTAIL INCREASES: Along with Lennox on Tenth’s rental increase of 4% annually, Manny’s off-Broad is paying 5% annual increases which provides a new owner a strong hedge against inflation.
  • BEAUTIFUL APARTMENT UNITS: The second story features three large and beautiful apartment units. Two of them are fully furnished with one of them being operated as an Air Bnb. Each unit features beautiful hardwood floors and exposed brick.

Contacts

broker

John Eckley, MBA, Civil Eng.

Meybohm Commercial Properties

Location

Getting Around

  • Walk Score ®

    75/100 Very Walkable
  • Bike Score ®

    64/100 Bikeable
Powered by Walk Score ®
  • City Augusta, GA
  • Neighborhood Downtown Augusta
  • Zip Code 30901
  • Market Augusta

Points of Interest

  • Bodie's

    0.34 miles

  • Circle K

    0.77 miles

  • Shell

    1.32 miles

  • Phillips 66

    2.23 miles

  • Shopper's Stop

    2.55 miles

  • Bryants Express

    4.11 miles

  • Kroger

    4.17 miles

  • Costco Gasoline

    4.41 miles

  • Tesla Supercharger

    5.06 miles

  • ChargePoint

    7.41 miles

  • Nathan Deal Campus Parking

    0.23 miles

  • Parking #61

    1.05 miles

  • Richard Algernon Dent Boulevard Parking Deck (CT)

    1.14 miles

  • Goss Lane Parking Deck (CP)- Parking #04

    1.28 miles

  • Parking #35

    1.32 miles

  • Parking #69

    1.42 miles

  • Mill Village Trailhead

    1.65 miles

  • 109

    2.81 miles

  • 110

    2.84 miles

  • 108

    2.85 miles

  • Manny's

    0.01 miles

  • Lennox On 10th

    0.02 miles

  • Tacocat

    0.02 miles

  • Pho-Ramen’l

    0.04 miles

  • Soy Noodle House

    0.06 miles

  • Mellow Mushroom

    0.10 miles

  • Whiskey Bar Kitchen

    0.15 miles

  • Laziza Mediterranean Grill

    0.16 miles

  • Beamie's At the River

    0.26 miles

  • The Pizza Joint

    0.26 miles

  • Thriftee's Supermarket

    1.82 miles

  • The Fresh Market

    3.79 miles

  • National Hills Shopping Center

    3.80 miles

  • Food Lion

    3.86 miles

  • Lidl

    4.07 miles

  • Publix

    4.15 miles

  • Kroger

    4.21 miles

  • Radha Asian Indian Grocers

    5.39 miles

  • Walmart Supercenter

    5.81 miles

  • TJ Maxx

    6.13 miles

Frequently Asked Questions

How much does Downtown Augusta Investment Property cost?

The space currently listed for sale at Downtown Augusta Investment Property asks for $1,799,000.

What is the total square footage of Downtown Augusta Investment Property?

Downtown Augusta Investment Property totals 9,072 square feet.

When was this property built?

Downtown Augusta Investment Property was built in 1888.

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Contact Listing Broker

broker

John Eckley, MBA, Civil Eng.

Meybohm Commercial Properties