CiTi Trends anchored Retail Center

$4,240,000

303 South Slappey Boulevard, Albany, GA 31701

For Sale

Retail Neighborhood Center

Active

Last Updated: 07/27/2021

Details:

Cap Rate: 9.9%

NOI: $414,453

Cash-on-Cash: 16.2%

Building Size: 59,817 sqft

Lot Area: 4.5 acres

Occupancy: 100%

Class: B

Year Built: 1972

Price Per Sqft: $70.88

Tenancy: Multiple

Investment Strategy: Value Add

Offered by

Andy Sutton

Principal

Sutton Investment Property Group

#144346

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Highlights:

Priced at a 9.9% Cap on Existing Income
Well Below Replacement Cost of $70.88
Upside in increasing rents
100% Occupied with Low avg Rents of $8 PSF
Cash on Cash of 16.20% 5 Year IRR 28.58%
Located in Opportunity Zone

Description:

Southgate Plaza is comprised of a 59,817 square foot Plaza which hosts 8 longterm tenants. Citi Trends has over 100 locations, and has been at this center since 2002, along with the majority of the existing tenants. The unique mix of tenants at the center includes rent-a-center, Ok Beauty, Simply 10, and several others, all of which work together to promote a stable investment environment.

303 South Slappey Boulevard is strategically placed so that traffic traveling in both ways can access the plaza, in addition, it is located at a signalized intersection with over 31,763 cars passing by this highly visible location. This Plaza is located approximately less than 1 mile