Saint Simons Island Commercial - Very Unique Opportunity to own commercial property on St. Simons
$2,800,000
3415 Frederica Road, St. Simons Island, GA 31522
For Sale
Retail
Other
Active
Last Updated: 01/13/2025
5
Cap Rate
6
Pro Forma Cap Rate
Details:
Cap Rate: 5%
Pro Forma Cap Rate : 6%
Building Size: 6,740 sqft
Lot Area: 0.61 acres
Occupancy: 80%
Class: B
Lease Type: Modified Gross
Year Built: 1980
Price Per Sqft: $415
Zoning: LC
Tenancy: Multiple
Gross Leaseable Area: 6,740
Description:
Very unique opportunity to own commercial property on St. Simons. Featuring as tenants 2 of the most iconic restaurants on the island, Sal's and Delaneys, this property also includes Mixed Nuts, a very high-end consignment boutique, as well as an attorney's office. With one vacancy there is some additional upside rental potential. Possible redevelopment opportunity when leases come up, or keep tenants in place and ride very real potential of value appreciation. Tenants have been in place long term. For additional info contact listing agent. Please DO NOT DISTURB the tenants or approach them with any questions regarding the property or the sale.
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