1124 Lake Oconee Parkway

Eatonton, GA

Shopping Center for Sale - $1,800,000

Bull Realty, Inc.

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Agent Info

NameMichael Bull, CCIM
CompanyBull Realty, Inc.

Property Info

CIMLS #966936
Location1124 Lake Oconee Parkway
Eatonton GA 31024
Last UpdatedDecember 28th, 2017
TypeShopping Center
Price$1,800,000

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Property Description

Bull Realty is proud to offer the Magnolia Center for sale for $1,800,000. This 100% occupied shopping center is anchored by Dollar General with an attractive tenant mix of both local and national retailers including H&R Block, Radio Shack, Lakeside Computers, Beer Growler Inc., U.S. Post Office and Top Flight Cleaners. Dollar General occupies 63% of the space and makes up approximately half of the total income for this center.

This property is a charming 15,000 SF retail center located in the prestigious Lake Oconee area. Nestled near Lake Oconee and backdropped by world-renowned Reynolds Plantation, the immediate 3 mile trade area boast an average household income of over $100,000 per year. This Dollar General Anchored retail strip shopping center is in the perfect location to draw in affluent patrons as well as those vacationing in the area.

The Magnolia Center is situated on 2.45 acres along Lake Oconee Parkway in Eatonton, Georgia. The annual net operating income for the property is approximately $131,300, and provides a solid first year cap rate of 7.3%. Current lease rates are well below comparable market rates allowing plenty of potential for rent escalation in the coming years.

Location Description:

Located in the prestigious Lake Oconee area. Nestled near Lake Oconee and backdropped by world-renowned Reynolds Plantation. Immediate 3 mile trade area boast an average household income of over $100,000 per year.

Highlights:

>> 100% occupied shopping center anchored by Dollar General

>> Dollar General occupies 63% and generates approximate half of the total income

>> Dollar General has 6 years remaining on the lease and two 10 year renewal options

>> Attractive tenant mix with both local & national retailers

>> Excellent frontage & access off Lake Oconee Parkway

>> Less than one mile south of Reynolds Plantation and situated close to Lake Oconee

>> Strong demographics and tourism in the immediate trade area with an average household income of over $100,000

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