Description
24 Townhome Development Built and Leased as Brand New Construction Turn-Key Rental Property. Site is located in Historic Downtown Forsyth, GA and is only One block from the Historic City Square where you will find fine dining, shopping, and several local businesses including banks, hardware store, post office, and both the city and county municipal buildings. Site is 1 mile from I-75 for quick access north to Atlanta or south to Macon. At list price current developer/owner will build the entire development to suit the buyer and fully lease the property to 100% occupancy as a turnkey multifamily development. Leases shall come with a one year performance guarantee and the entire project shall come with a roof to foundation warranty on all materials and labor as a part of the deal. Price below an 8 CAP Rate and $500k less than a 7 CAP based on our very conservative income/expense projections. Alternatively, the fully approved site is available for purchase to the right buyer who will continue the developer's vision to completion. Any buyer must meet all terms agreed to with the City of Forsyth as a part of this project. See other listing for more details on that option. Sale shall include fully approved site plans and engineered construction drawings for the site. Owner is GA licensed broker #216409
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0BEDS
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1.95ACRES
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0BATHS
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01/2 BATHS
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24,000SQFT
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$165$/SQFT
School Ratings & Info
Description
24 Townhome Development Built and Leased as Brand New Construction Turn-Key Rental Property. Site is located in Historic Downtown Forsyth, GA and is only One block from the Historic City Square where you will find fine dining, shopping, and several local businesses including banks, hardware store, post office, and both the city and county municipal buildings. Site is 1 mile from I-75 for quick access north to Atlanta or south to Macon. At list price current developer/owner will build the entire development to suit the buyer and fully lease the property to 100% occupancy as a turnkey multifamily development. Leases shall come with a one year performance guarantee and the entire project shall come with a roof to foundation warranty on all materials and labor as a part of the deal. Price below an 8 CAP Rate and $500k less than a 7 CAP based on our very conservative income/expense projections. Alternatively, the fully approved site is available for purchase to the right buyer who will continue the developer's vision to completion. Any buyer must meet all terms agreed to with the City of Forsyth as a part of this project. See other listing for more details on that option. Sale shall include fully approved site plans and engineered construction drawings for the site. Owner is GA licensed broker #216409
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