1218-1224 N Westover Blvd - Freestanding FOR SALE


Albany, GA 31707
$3,686,000 USD
404-832-1251
1218-1224 N Westover Blvd, Albany, GA for Sale
$3,686,000 USD
Freestanding - FOR SALE
1/5
null | 7.6% Cap Rate

1218-1224 N Westover Blvd
Albany, GA 31707


HIGHLIGHTS

  • 7.5 Year WALT With a Mixture of National & Local Tenants
  • Main Retail Corridor With Home Depot, Lowes, Sam's Club, and the Albany Mall
  • Recent Property Upgrades: New HVAC's, Parking Lot, and Paint
  • Located Just Off the Liberty Expressway: 40,700 VPD
  • Easy to Maintain: Fully NNN Lease Structures From All Tenants
  • Significantly Below Replacement Cost: $188 PSF

OVERVIEW

Franklin Street is pleased to present Albany Exchange, a three tenant strip center in Albany, Georgia. Albany is located in southwest Georgia and ranks as the 11th largest MSA in Georgia with 145,000+ residents. Albany's economy is driven by a large healthcare system that employs 5,400 employees and a large marine base employing 4,000+ people, and contributes an estimated $1.7B annually to the local economy. Albany Exchange is located within the main retail corridor of the market and surrounded by national big box retailers and restaurant operators that services a large trade area. America's Home Place has operated within the center since it was constructed in 2003. Pet Supplies Plus and Asia Buffett have more recently moved into the center and both signed 10+ year leases. Each lease has built in rent increases throughout the term and option periods and fully NNN leases. The property has been owned and well maintained by the original developers of the property. Albany Exchange has excellent visibility, as it sits parallel to North Westover Blvd (19,600 VPD), with several rows of parking fronting the center allowing for optimal parking and access for the tenants.

FOR SALE DETAILS

PRICE

$3,686,000 USD

PRICE/SF

$223 USD /SF

CAP RATE

7.6%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Albany Exchange

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2003

SPRINKLERS

-

PARKING SPACES

200

LAND DETAILS

LAND ACRES

2.64 AC

LAND SF

114,998 SF

ZONING

Commercial

APN/PARCEL ID

0000S-00004-01P

ASK ABOUT THIS PROPERTY

Bryan BelkFranklin StreetMore Info
404-832-1251

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Bryan BelkFranklin StreetMore Info
404-832-1251

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.