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Barton Chapel Plaza & Developable Land 2664 New Barton Chapel Rd 20,520 SF 91% Leased Retail Building Augusta, GA 30906 $3,510,000 ($171.05/SF)
Investment Highlights
- Significant Value-Add Opportunity: NOI can be grown 33%+ via leasing of a 1,798 SF endcap and rolling in-place rents to market
- Developable Excess Land: ~11.5 acres of land behind the center is ideal for self-storage, light industrial, or residential development
- Augusta is a Growing Market: Augusta is the second largest metro in Georgia, and the population has grown 26% in the past two decades
- Development-Ready Pad: A ~0.5 acre pad site with frontage, for which Seller has procured construction drawings for a 8,000 SF additional strip center
- Proximity to Fort Gordon: The 56k acre installation (~2.5 miles west of the property) has a 115k population and an economic impact of $2.4B annually
Executive Summary
Prime investment opportunity to acquire a true, value-add shopping center, as well as ~12.00 acres of developable land, in the growing market of Augusta, GA.
In addition to the lease-up of a 1,798 SF, endcap vacancy, value-add returns can be achieved by rolling tenants to market. The in-place, weighted average rental rate is $14.35 PSF, with most tenants having gross lease structures. Market rent is +$15.00 PSF NNN.
The ~12.00 acres of developable land is comprised of a 0.5 acre development-ready pad with frontage along Barton Chapel Rd and ~11.5 acres of land behind the shopping center that is ideal for self-storage, light industrial, or residential.
In addition to the lease-up of a 1,798 SF, endcap vacancy, value-add returns can be achieved by rolling tenants to market. The in-place, weighted average rental rate is $14.35 PSF, with most tenants having gross lease structures. Market rent is +$15.00 PSF NNN.
The ~12.00 acres of developable land is comprised of a 0.5 acre development-ready pad with frontage along Barton Chapel Rd and ~11.5 acres of land behind the shopping center that is ideal for self-storage, light industrial, or residential.
Data Room Click Here to Access
- Offering Memorandum
Property Facts Under Contract
Sale Type
Investment
Property Type
Retail
Property Subtype
Freestanding
Building Size
20,520 SF
Building Class
C
Year Built
2005
Price
$3,510,000
Price Per SF
$171.05
Percent Leased
91%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.03
Lot Size
15.66 AC
Zoning
B-2 - General Business
Frontage
553’ on Barton Chapel Road
Amenities
- Pylon Sign
- Signage
Fairly walkable
40/100
Exceptionally drivable
100/100
Somewhat bikeable
20/100
Property Taxes
| Parcel Number | 0950386010 | Improvements Assessment | $940,516 |
| Land Assessment | $100,100 | Total Assessment | $1,040,616 |
Property Taxes
Parcel Number
0950386010
Land Assessment
$100,100
Improvements Assessment
$940,516
Total Assessment
$1,040,616
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Presented by
Johnny Blue Real Estate Services, LLC
Barton Chapel Plaza & Developable Land | 2664 New Barton Chapel Rd
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