Historical Retail Sale Listing - Summit Plaza

Retail For Sale

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Summit Plaza

790 Hwy 85 S., Fayetteville, GA 30214

N/A

5,700 SF | Retail

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Retail Property - Off Market

Price:
N/A
Gross Leasable Area:
5,700 SF
Property Type:
Retail
Property Sub-type:
Strip Center
Property Use Type:
Investment
Commission Split:
2.5%
Cap Rate:
12.80%
Occupancy:
50%
Tenancy:
Multiple
Year Built:
2001
Lot Size:
1.05 AC
Parking Ratio:
4 / 1,000 SF
Listing ID
17685360
Last Updated
320 days ago

Highlights

  • $87 PSF - Below replacement cost
  • +30% Cash on Cash return upon lease-up of two vacant spaces
  • Priced using below average rent rates in the market
  • Adjacent to a Publix center and across the street from a Kroger center
  • 50,000 people / $100,000 Avg. HH Income within 5 miles

Description

This is an excellent "value-added" opportunity to purchase a 5,700 SF retail center with four suites well below replacement costs ($87 PSF). There is significant upside to the buyer who can lease the current vacant space (only two suites) resulting with a cash on cash return of +/-30%.

Summit Plaza is adjacent to a Publix anchored center and across the street from a Kroger anchored center. The center was built in 2001 and is currently 50% occupied with two retail tenants, Cotton Insurance and Judy's Nails. The property is located on the south side of the City of Fayetteville where there are nearly 50,000 people living within the 5 mile trade area with an annual HH income in excess of $100,000. The property has excellent visibility and access from Hwy 85 (Glynn St.), which has approximately 20,000 vehicles per day

Map of 790 Hwy 85 S., Fayetteville, GA 30214 (Fayette County)

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Created 5/31/2012