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Perlis Plaza Shopping Center - Americus, GA 1500 E Forsyth St 165,315 SF 81% Leased Retail Building Americus, GA 31709 $8,126,000 ($49.15/SF) 8.25% Cap Rate
Investment Highlights
- In addition to Belk (26% of GLA), Perlis Plaza features a roster of eight additional nationally recognized brands.
- 99% of occupied GLA has 5+ years of tenancy and 66% has 15+ years; Belk (1988) and Sherwin Williams (1986) each have 35+ consecutive years.
- Two out pads available for development along E Forsyth Street.
- Price/SF less than $50.00/SF.
- Smaller vacant boxes (13 units/20% of GLA) that range from 1,000 SF - 7,000 SF offer immediate upside to complement an already stabilized.
- Several long-term tenant leases coming due in the next 3 years with no remaining options. In-place rents averaging $6.51/SF.
Executive Summary
Sands Investment Group is pleased to exclusively offer for sale Perlis Plaza Shopping Center, a 165,315 SF regional shopping center located at 1500 E Forsyth Street in Americus, GA. Priced substantially below replacement cost, the property presents a compelling value-add investment opportunity with immediate upside through the lease-up of several vacant suites within a nationally anchored center that serves as the premier shopping destination in the Americus market.
Perlis Plaza represents a rare chance to acquire a generational asset that has served as a retail cornerstone of Sumter County. The center offers meaningful near-term value creation through the absorption of multiple small-shop vacancies, complemented by a durable tenant roster that includes nine national credit tenants with an average tenure exceeding 25 years. The combination of stable in-place income and lease-up potential creates an attractive risk investment opportunity.
In Cooperation With Sands Investment Group Atlanta, LLC - Lic. #67374 BoR: Andrew Ackerman - Lic. GA #311619
Perlis Plaza represents a rare chance to acquire a generational asset that has served as a retail cornerstone of Sumter County. The center offers meaningful near-term value creation through the absorption of multiple small-shop vacancies, complemented by a durable tenant roster that includes nine national credit tenants with an average tenure exceeding 25 years. The combination of stable in-place income and lease-up potential creates an attractive risk investment opportunity.
In Cooperation With Sands Investment Group Atlanta, LLC - Lic. #67374 BoR: Andrew Ackerman - Lic. GA #311619
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Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
165,315 SF
Building Class
B
Year Built/Renovated
1972/1988
Price
$8,126,000
Price Per SF
$49.15
Cap Rate
8.25%
NOI
$670,395
Percent Leased
81%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.21
Lot Size
17.88 AC
Opportunity Zone
Yes
Zoning
C-1 - C-1 Roadside Business District
Parking
543 Spaces (3.28 Spaces per 1,000 SF Leased)
Frontage
1,244’ on Forsyth St
Amenities
- Bus Line
- Restaurant
- Signage
- Air Conditioning
Fairly walkable
40/100
Exceptionally drivable
100/100
Somewhat bikeable
20/100
Nearby Major Retailers
Property Taxes
| Parcel Numbers | Improvements Assessment | $52,280 | |
| Land Assessment | $81,160 | Total Assessment | $133,440 |
Property Taxes
Parcel Numbers
Land Assessment
$81,160
Improvements Assessment
$52,280
Total Assessment
$133,440
Contacts
-
Liam Rowan -
Tyler Baughman -
Andrew Ackerman -
Sands Investment Group Atlanta, LLC
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