11510 Columbia Street, Blakely GA

Shopping Center for Sale - $2,100,000

Bull Realty, Inc.

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Agent Info

NameMichael Bull, CCIM
CompanyBull Realty, Inc.

Property Info

CIMLS #931225
Location11510 Columbia Street
Blakely GA 39823
Last UpdatedNovember 5th, 2017
TypeShopping Center
Price$2,100,000

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Property Description

Station West Shopping Center is a 81,550 square foot community shopping center anchored by several regional credit retailers including: Fred’s, Variety Wholesalers (Roses Express), Farmer’s Furniture, and Citi Trends, all of which have occupied the center since 2002 and are in their 2nd or 3rd renewal periods. Built in 1980, the center has been renovated twice, and the parking lot has recently been restriped.

The property is offered on actual net income with a 8.2% cap rate. There is value add potential with a 78% occupancy at an average rent of $3.15 per square foot. Upon stabilized occupancy, the property has a ProForma cap rate of 9.2%

Location Description:

Located in Blakely, GA. Blakely is the county seat for Early County. Early County is the largest producer of peanuts in the U.S. and is also one of the nation’s largest producers of cotton.

Highlights:

>> 81,550 SF community shopping center

>> Offered on actual net income with a 8.2% cap rate

>> ProForma cap rate of 9.2% at stabilized occupancy

>> Built in 1980 and renovated twice

>> Value-add potential with a 78% occupancy and average rent of $3.15/SF

>> Anchored by several regional credit retailers including: Fred's, Variety Wholesalers (Roses Express), Citi Trends and Farmer's Furniture

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