244 Cordele Rd - Retail FOR SALE


Albany, GA 31705
$5,825,000 USD
404-832-1251
244 Cordele Rd, Albany, GA for Sale
$5,825,000 USD
Retail - FOR SALE
1/6
null | 8.5% Cap Rate

244 Cordele Rd
Albany, GA 31705


HIGHLIGHTS

  • Walmart Shadow Center in southern Georgia: Walmart generates 1.7M annual visits
  • Durable Income Stream: 5.5 WALT
  • Strong History at the Center of Replacing Tenants with National Retailers When One Has Left
  • Most Visited Shopping Center on the East Side of Albany: 2.1M annual visits
  • One Vacant End Cap that Offers 2,360 SF with a Drive-Thru
  • Strong NOI Growth Opportunity: 2.90% 5 Year CAGR

OVERVIEW

Franklin Street is pleased to present the opportunity to acquire Albany Crossing, a 36,000 SF Walmart shadow center in Albany, Georgia. Albany, Georgia serves as the economic and healthcare hub of Southwest Georgia, drawing consumers from a broad regional trade area of more than 500,000 residents. Home to major employers including healthcare, education, manufacturing, and logistics operations, the city benefits from a diverse economic base and a stable workforce. Positioned along major transportation corridors, Albany offers strong retail fundamentals and serves as a primary shopping destination for surrounding rural communities. Albany Crossing is made up of a strong mixture of retailers and daily service operators including national tenants: Davita, Hibbett Sports, Rainbow, Sun Com Mobile, among others. The surrounding area includes other traffic generating retailers including Planet Fitness, Dollar Tree, Pilot Travel Center, Family Dollar, Walgreens, among other QSR users. The leases have strong built in rental increases and many of the long term tenants have exercised several option renewals showcasing their commitment to the site.

FOR SALE DETAILS

PRICE

$5,825,000 USD

PRICE/SF

$162 USD /SF

CAP RATE

8.5%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Albany Crossing - Walmart Shadow

PROPERTY TYPE

Retail

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2010

SPRINKLERS

-

PARKING SPACES

162

LAND DETAILS

LAND ACRES

4.98 AC

LAND SF

216,929 SF

ZONING

C3

APN/PARCEL ID

0000J-00001-01A

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 Notice.