1505 Newcastle Street, Brunswick GA

Retail for Sale - $1,300,000

Bull Realty, Inc.

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Agent Info

NameMichael Bull, CCIM
CompanyBull Realty, Inc.

Property Info

CIMLS #930020
Location1505 Newcastle Street
Brunswick GA 31520
Last UpdatedMarch 29th, 2017
TypeRetail
Price$1,300,000

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Property Description

Approximately 19,962 SF building provides the opportunity to acquire a well located street front retail property with income from Wells Fargo as well as upside from approximately 15,171 SF of vacant space.

Wells Fargo just signed a five year lease renewal on approximately 4,791 SF on the first floor at $75,000/year. If you ignore the upside of leasing or using the rest of the building, at list price the property provides an approximate 5% cap rate on existing income from national credit tenant with existing 76% vacancy.

Location Description:

Located in Downtown Brunswick near to the historic Ritz Theater on Newcastle Street.

Highlights:

>> 19,962 SF retail building

>> Street front space

>> Backs up to Oglethorpe Bay

>> Huge upside - 15,171 vacant space

>> Income from Wells Fargo - just signed 5 year renewal

>> 5% cap rate on existing income

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