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Analyze more property details including ownership and financial history. Share advanced property insights with your clients and teams.
14600454
14600460

2922 Watson Blvd, Centerville, GA 31028

ZT
GA 266327
Marcus & Millichap - Atlanta
BM
GA 263081
Marcus & Millichap - Atlanta
EA
GA 407938
Marcus & Millichap - Atlanta
Listed by Marcus & Millichap - Atlanta
$26,000,000
883 days on market
Updated 70 days ago

Houston County Galleria

Details
Property Type Retail
Sub Type Shopping Center, Storefront
Square Footage 480,808
Net Rentable (SqFt) 480,808
Cap Rate 11.70%
NOI $3,050,869
Occupancy 94%
Tenancy Multi
Price per SqFt $54
Class B
Year Built 1994
Acreage 50.820
Investment Type Core+
Ownership Fee Simple

Regional Shopping Mall | 11.70% CAP | 480,808 SF

Marketing description

Investment highlights

FULL OWNERSHIP STRUCTURE

• Houston Galleria provides the opportunity for an investor to have 100% ownership for all pieces to the mall

• 100% ownership structure will allow flexibility to buyer for repositioning/ redevelopment

HISTORY OF SUCCESSFUL ANCHOR REPOSITIONING

• The properties’ desirable location is highlighted by the recent successful repositioning of one of its major anchors

• The former Sears box was re-tenanted by Conn’s Home Plus and Crunch Fitness, two highly desirable uses

• The backfill of this space diversifies the tenant mix & drives additional foot traffic to the center

• This leasing momentum presents upside to an investor and opens opportunity for similar leasing transactions in the future

MULTI-FAMILY DEVELOPMENT ADJACENT

• Directly Adjacent to the Mall will be the Abbington at Galleria multifamily

• The site is a redevelopment of a portion of the former parking lot

• 156 units are finalizing construction and will drive foot traffic to the center

ROBUST RETAIL CORRIDOR

• Located at the heart of a major retail corridor with over 50,000 combined VPD

• 2.5M SF of Retail in a 1-Mile Radius

• Surrounding tenants include: Walmart, Target, Kroger, Publix, Home Depot, Lowe’s, Hobby Lobby, Best Buy, TJ Maxx, Ross, and more

Listing Contacts

ZT
GA 266327
Marcus & Millichap - Atlanta
BM
GA 263081
Marcus & Millichap - Atlanta
EA
GA 407938
Marcus & Millichap - Atlanta
Listed by Marcus & Millichap - Atlanta

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Loan Amount
$0.00
Annual Debt Service
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Annual Cash Flow
$3,050,869.00
$254,239.08/mo

Valuation Metrics

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DSCR
11.73%
Cap Rate
11.73%
ROI

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