103-105 Clack Circle, Eatonton GA

Retail for Sale - $1,175,000

Bull Realty, Inc.

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Agent Info

NameMichael Bull, CCIM
CompanyBull Realty, Inc.

Property Info

CIMLS #953185
Location103-105 Clack Circle
Eatonton GA 31024
Last UpdatedNovember 2nd, 2017
TypeRetail
Price$1,175,000

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Property Description

The Shoppes at Fore Magnolias is a charming ±10,860 square foot retail center located on Highway 44 in the prestigious Lake Oconee area. Nestled near Lake Oconee and backdropped by world-renowned Reynolds Plantation and with average household income in a five-mile radius of over $128,000, this shopping center is in the perfect location to draw in affluent patrons as well as those vacationing in the area.

The Shoppes at Fore Magnolias is built on ±1.25 acres at the corner of Clack Circle and highway 44. The center is 100% occupied and has seven successful, long-term tenants. The adjacent property houses one of the most popular restaurants in the area and draws high-end patrons to the center. The property is superbly maintained and features magnificent views of Lake Oconee. Traffic counts on Greensboro Road exceed 12,000 vehicles per day.

The annual net operating income for the property is approximately $79,982.75 providing a solid first year cap rate of 6.8%. Current lease rates are well below comparable market rates allowing plenty of potential for rent escalation in the coming years.

Please do not disturb tenants. Property tours by appointment only.

Location Description:

Located in prestigious Lake Oconee area and backdropped by world-renowned Reynolds Plantation

Highlights:

>> Charming ±10,860 square foot retail center

>> Built on ±1.25 acres

>> 100% occupied with seven successful, long-term tenants

>> Located in prestigious Lake Oconee area and backdropped by world-renowned Reynolds Plantation

>> Average household income in a five-mile radius of over $128,000

>> Current lease rates are well below comparable market rates allowing plenty of potential for rent escalation

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