2215 Memorial Dr - Retail FOR SALE


Waycross, GA 31501
$9,276,000 USD
216-381-8200
2215 Memorial Dr, Waycross, GA for Sale
$9,276,000 USD
Retail - FOR SALE
1/8
null | 9% Cap Rate

2215 Memorial Dr
Waycross, GA 31501


HIGHLIGHTS

  • RARE Value-Add Retail for Sale with 23% Vacancy Upside
  • Offering Price Based on In-Place NOI Only - NO PROFORMA RENT
  • National Anchors Belk, TJ Maxx, Rural King, Planet Fitness, and Dunham’s Account for Thousands of Daily Shoppers
  • Tremendous Cash-On-Cash Potential with Lease Up of Vacant Space
  • Ideal Central Retail Location Across the Street from Walmart and Lowe’s
  • Large Parking Field Allows for Future Expansion or Future Outlot Opportunities

OVERVIEW

For sale is the 100% fee-simple interest in The Mall at Waycross, a 338,181 square foot mall in the center of the Waycross, Georgia, retail trade area. The majority of the property’s square footage is devoted to national anchor retailers as opposed to interior mall space. Anchor tenants Belk, TJ Maxx, Planet Fitness, Dunham’s, and Rural King (shadow anchor), account for over 80% of total gross leasable area, leaving a manageable 84,782 square feet of interior space, of which 58,994 square feet is available to be leased or combined to add more anchors. Many of the vacant spaces are located on the front center of the mall, which lends them to be redesigned as junior box spaces with exterior signage and entrances. Tenants currently comprising the interior square footage include Hibbett Sports, Rack Room Shoes, Metro Fashions, Claire’s Boutique, and others. National tenants not yet in the market have expressed interest in combining vacancies to create junior box positions in line with Belk, providing immediate upside to an investor. The property is situated in the center of the Waycross retail trade area with neighbors Walmart Supercenter, Lowe’s, Hobby Lobby, Ross Dress for Less, Bealls, Chick-fil-A, Fairfield Inn & Suites, and many more. Georgia Broker of Record: Interstate James Nidiffer mike@ira-realty.com 888.683.7788 Ext 7716

FOR SALE DETAILS

PRICE

$9,276,000 USD

PRICE/SF

$36 USD /SF

CAP RATE

9%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

The Mall At Waycross

PROPERTY TYPE

Retail

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1974

SPRINKLERS

-

PARKING SPACES

1943

LAND DETAILS

LAND ACRES

23.68 AC

LAND SF

1,031,501 SF

ZONING

02

APN/PARCEL ID

WA2404-006

ASK ABOUT THIS PROPERTY

Kyle HartungGoodman Real Estate Services GroupMore Info
216-381-8200

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Kyle HartungGoodman Real Estate Services GroupMore Info
216-381-8200

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