GA petcare business- absolute NNN property for sale
thoughts on a potential (currently unlisted deal)  

Price $800,000 

Location: Warner Robins, GA 

Cap rate 5.75% 

15 yr. abs. NNN 

2.5% annual rent increases

corp. backing 

Petcare biz w/long-term history and well-reviewed 15 yr. old building
[{"id": "i77r1r8", "text": "Are you a cre professional in GA?", "replies": [{"id": "i77sp6q", "text": "no, out of state and not a cre pro", "replies": [], "depth": 2}], "depth": 1}, {"id": "i77t07r", "text": "Funny, I was shopping for sites in Warner Robins today, totally unrelated to your property though.", "replies": [{"id": "i77tg1t", "text": "what's your general take on the area itself?", "replies": [{"id": "i77u6bu", "text": "Better than Macon!", "replies": [], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "i77v629", "text": "What state and do you know of other businesses for sale?", "replies": [], "depth": 1}, {"id": "i781oyk", "text": "Warner Robins is middle of nowhere. Will have really significant trouble retenanting and/or reselling. 5.75% cap maybe for a sbux in a market like that.", "replies": [{"id": "i7823o1", "text": "Thanks for the feedback. Seems like they\u2019ve had impressive population growth over the past 20 years, and is continuing to grow. But have never been there, I\u2019m only speaking from what I read", "replies": [{"id": "i7869zq", "text": "They\u2019re reliant on the Air Force base for the major economic hub and I\u2019m not sure 1.5% in a city of 80,000 is really high enough to consider such a tertiary city for standalone commercial like this. I doubt it\u2019s in the top 10 growth cities in Georgia. \n\nBut hey if it\u2019s like $50/ft and so far below replacement that you can\u2019t lose when it goes vacant or afford to lease it up at $8/ft NNN then go for it.", "replies": [{"id": "i78nrny", "text": "You are way off on this. Warner Robins is thriving right now.\n\n It\u2019s still the sticks, but it is experiencing rapid growth.\n\nDoesn\u2019t mean this is a good project, I k ow nothing about it. \n\nWarner Robbins the city is a strong enough suburban area to support commercial development \u2026in the right place &amp; at the right price.", "replies": [{"id": "i78pidw", "text": "Haha cool. Still in the sticks middle of nowhere totally reliant on government money with a marginal growth rate, poor demographics but I\u2019m way off in not suggesting to buy a 5 cap rando commercial.", "replies": [{"id": "i79vi68", "text": "Yeah, people hear whatever they want to hear.\n\nWR is not totally reliant on Govt money.\n\nRelative to national growth rates, WR is exploding. \n\nDemographics aren\u2019t particularly poor.\n\nI\u2019d say, take a look on a costar &amp; find out but it\u2019s probably best you don\u2019t. Stay ignorant my Reddit friend &amp; continue to dole out advice to strangers about stuff you nothing about on the internet.", "replies": [], "depth": 6}], "depth": 5}], "depth": 4}, {"id": "i7ifzr0", "text": "Thank you both for the commentary. It\u2019s definitely a little more rural than I would like, but the momentum in terms of construction and new housing seems to be strong. Although if we do enter a recession I\u2019m not sure how that would impact the current plans.", "replies": [], "depth": 4}], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "i7829e6", "text": "5.75% cap seems a little rich. Depends how you\u2019re financing?", "replies": [{"id": "i782qyh", "text": "Thanks, I would definitely be looking for a higher cap rate if I made an offer", "replies": [{"id": "i78388a", "text": "Yeah they seem to be lagging behind interest rates but that won\u2019t last forever", "replies": [], "depth": 3}], "depth": 2}], "depth": 1}]