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Multi-Tenant Retail/Office Investment Opportunity | Great Value-Add Potential | ±2,950 SF

$268,000

147 James Street, Gray, GA 31032

Active
Last Updated: 01/19/2024

2,950 sqft

Building Size

58

Occupancy

Details:
Building Size:    2,950 sqft
Occupancy:    58%
Units:    12
Year Built:    1950
Floors:    1
Highlights:
  • Major value-add potential
  • High average household income within a 2-mile radius of $79,037
  • Built in 1950 with recent renovations, such as a 2-year-old 5-ton HVAC unit
  • Double-sided 4x4 signage with excellent visibility for the 2,824 VPD on James St
  • Ample surface parking in the front (3 spaces) and back (9 spaces + 1 handicap) of building
  • Property is surrounded by several local government facilities
  • Please do not tour the property without an appointment
Description:

Rare opportunity to acquire a ±2,950 SF mixed-tenant retail building offering 12 suites located in the heart of downtown Gray, GA. Great investment opportunity with good in-place cash flow, a healthy blend of retail tenants and offers major upside potential. The building is currently 58% occupied with an in-place cap rate of 6.5%. Ideal for an investor looking to take advantage of the low occupancy rate by purchasing the asset, stabilizing rents and occupancy levels, and then taking a hands-off investment approach by letting your broker and property management team handle the day-to-day tasks. This property is ideally located between bustling Macon, GA and Milledgeville, GA.

Gray, GA

Map:
Documents:
Title
Sale_Flyer_1.8.24.pdf
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Location
Gallery