Listed by Cushman & Wakefield - Savannah, Georgia
$1,700,000
Magnolia Place
Details
APN 0465M-00000-007-000
Property Type Retail
Sub Type Shopping Center
Square Footage 13,000
Net Rentable (SqFt) 13,000
Units 12
Cap Rate 4.24%
NOI $72,120
Occupancy 92%
Tenancy Multi
Lease Type Modified
Pro-Forma Cap Rate 11.8%
Pro-Forma NOI $200,530
Price per SqFt $131
Broker Co-Op Yes
Year Built 2000
Buildings 1
Stories 1
Acreage 1.260
Zoning B-2
Investment Type Value Add
Value Add Opportunity
Marketing description
Investment opportunity in thriving Savannah, GA MSA. 2000-constructed strip center on Highway 21 in Rincon, GA with 39K VPD. 92% leased but with month-to-month leases at well below market rents. Opportunity to move rents to market over time and capture huge upside.
Investment highlights
Rincon is thriving suburb of Savannah, GA with huge investment and residential, commercial, and industrial growth
Frontage, visibility, signage, and access from Highway 21 with appx. 39K vehicles passing daily
Short-term leases without renewal options offers opportunity for new owner to raise rents to market
Listing Contacts
Listed by Cushman & Wakefield - Savannah, Georgia
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$72,120.00
$6,010.00/mo
Valuation Metrics
0
DSCR
4.24%
Cap Rate
4.24%
ROI
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