Overview

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

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

Documents

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