3200 N Ashley St
Valdosta, GA 31602
Retail Property For Sale

The Chetek Group, as exclusive advisor, is pleased to present the opportunity to acquire a fee simple interest in BakerSmith Corners Shopping Center, a 114,470 square-foot grocery-anchored shopping center (“The Property”) located in Valdosta, Georgia. BakerSmith Corners is 100% leased to a diverse, well-known mix of national and regional tenants including Winn-Dixie, Planet Fitness, Beall’s Outlet, and AppleCare. In addition, the Property includes two single tenant ground leases with Waffle House and Bruster’s Ice Cream. Built in 1999 and renovated in 2014, the Property is located on a 12.38-acre site, strategically positioned along N Valdosta Rd, the area’s dominant arterial thoroughfare. BakerSmith Corners features pylon and monument signage with excellent visibility and access to over 25,000 vehicles per day and two signalized intersections that provide access to the nearly 100,000 people in the ten-mile radius with average household incomes of $70,000 in the one-mile radius. Winn-Dixie recently signed an early 8-year lease renewal extending their base lease term to 11 years and through 2030. In addition, Winn-Dixie has committed to completing a renovation of the Valdosta store at their own expense. Beall’s also recently exercised their 5-year option extending their lease term through 2025 which demonstrates their success and commitment to the Property. In addition, Beall’s strong performance at the Property led to them expanding their footprint in 2012, adding an additional 8,000 SF at a cost of approximately $900,000 which they split with the landlord. Waffle House has been a tenant since 2003 and recently exercised a 5-year renewal in February 2019. Other major national retailers immediately surrounding the property include Walmart Supercenter, Bank of America, Big Lots, Chick- Fil-A, Starbucks, Wendy’s, BB&T, Tacobell, Wells Fargo, and Bank of the Ozarks, among others. The Property boasts strong historical occupancies – Winn-Dixie and Beall’s have been tenants at the property successfully for twenty (20) plus years and Waffle House for more than 15 years. Planet Fitness is run by a successful franchisee with multiple locations in several states throughout the Southeast and AppleCare is a growing urgent care company with more than 12 locations in central and southeast Georgia. The Property is being offered free and clear of debt at an 8% cap rate totaling $8,739,000.