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2215 Memorial Dr
Waycross, GA 31501
The Mall At Waycross · Retail Property For Sale


INVESTMENT HIGHLIGHTS
- RARE Value-Add Retail for Sale with 23% Vacancy Upside
- National Anchors Belk, TJ Maxx, Rural King, Planet Fitness, and Dunham’s Account for Thousands of Daily Shoppers
- Ideal Central Retail Location Across the Street from Walmart and Lowe’s
- Offering Price Based on In-Place NOI Only - NO PROFORMA RENT
- Tremendous Cash-On-Cash Potential with Lease Up of Vacant Space
- Large Parking Field Allows for Future Expansion or Future Outlot Opportunities
EXECUTIVE SUMMARY
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
Georgia Broker of Record: Interstate
James Nidiffer
mike@ira-realty.com
888.683.7788 Ext 7716
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Building Size
257,252 SF
Building Class
B
Year Built/Renovated
1974/1996
Price
$9,276,000
Price Per SF
$36.06
Cap Rate
9%
NOI
$834,833
Percent Leased
84%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.25
Lot Size
23.68 AC
Opportunity Zone
Yes
Zoning
02
Parking
1,943 Spaces (7.55 Spaces per 1,000 SF Leased)
Frontage
AMENITIES
- Kiosk/Cart Space
- Enclosed Mall
PROPERTY TAXES
| Parcel Number | WA2404-006 | Improvements Assessment | $2,307,761 |
| Land Assessment | $1,311,644 | Total Assessment | $3,619,405 |
PROPERTY TAXES
Parcel Number
WA2404-006
Land Assessment
$1,311,644
Improvements Assessment
$2,307,761
Total Assessment
$3,619,405
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