, Macon, GA
$2,360,000
1104 N Westover Boulevard Albany, GA 31707 Dougherty County
INVESTMENT PROPERTY
GALLERIA SHOPPING CENTER • 21,282 SF multi-tenant center situated on 2.49 acres • 100% leased a/o July, 2016 • Built 1998 • Property maintained above 90% throughout the most recent recession
occupancy
• Below market rents with tremendous upside potential • Cap rate – 5.8% • High traffic location adjacent to Verizon and across from the new Cheddar’s Café off Liberty Expressway • Major retailers in the immediate area include Sam’s Club, Lowe’s, Home Depot, Target, Kmart and the Albany Mall
4124 Arkwright Road, Suite 1, Macon, GA 31210 | (478) 750-7507 | Fax (478) 750-9002 | www.thesummitgroupmacon.com For additional information contact:
KEVIN HARKINS | Cell (478) 338-0623 | [email protected]
The information contained herein has been compiled from various sources, both private and public. It is accurate and complete only to the extent to which The Summit Group has been able to ascertain from third party sources. As such, no warranty or guarantee is given or implied with regard to the accuracy or completeness of any information contained herein. Any interested party shall be required to conduct its own due diligence and investigations to verify, review, audit, or otherwise insure the information contained herein.
v1
1104 N Westover Boulevard Albany, GA 31707 Dougherty County Rent Roll a/o July, 2016 Unit
Tenant
SF
Rent
Suites 1, 4&8
MCC Georgia, LLC
6,750
$5,800.00
Suite 2
World Finance Corporation of Albany
1,500
$1,648.17
Suite 3
The Dive Shop
1,500
$1,175.00
Suite 5
Dave Sirmans
1,500
$850.00
Suite 6A
Affordable Care, Inc.
2,200
$2,489.67
Suites 6B &7
Flint River Bible Fellowship
5,124
$2,200.00
Suite 7A
Adore Beauty and Braiding
1,500
$1,150.00
Suite 9
Department of the Army, Savannah District, Corps of Engineers
PRO-FORMA INCOME STATEMENT Current Rents
$170,538.12
CT&I Income
$26,504.04
Gross Income
$197,042.16
EXPENSES Management Fees (5%)
$8,526.91
Property Insurance
$5,618.00
Property Taxes
$32,753.00
Repairs & Maintenance Reserve (5%)
$8,526.91
Utilities & Landscaping
$2,786.79 $58,211.61
NET OPERATING INCOME 1,208
$138,830.55
$1,107.34
*CT&I included in lease rate if applicable.
4124 Arkwright Road, Suite 1, Macon, GA 31210 | (478) 750-7507 | Fax (478) 750-9002 | www.thesummitgroupmacon.com For additional information contact:
KEVIN HARKINS | Cell (478) 338-0623 | [email protected]
The information contained herein has been compiled from various sources, both private and public. It is accurate and complete only to the extent to which The Summit Group has been able to ascertain from third party sources. As such, no warranty or guarantee is given or implied with regard to the accuracy or completeness of any information contained herein. Any interested party shall be required to conduct its own due diligence and investigations to verify, review, audit, or otherwise insure the information contained herein.
1104 N Westover Boulevard Albany, GA 31707 Dougherty County Traffic Count: (GA DOT 2015 Published Data estimate) Liberty Expressway N of Albany Mall – 19,200 vpd Westover Boulevard S of Albany Mall – 16,600 vpd
Demographics 1 Mile 2016 Population: 4,374
3 Miles
5 Miles
34,321
65,108
2021 Population Estimate: 4,302
34,348
65,031
2016 Households: 2,115
14,748
26,368
2021 Households Estimate: 2,076
14,722
26,285
2016 Average HH Income: $56,030
$66,214
$59,437
2021 Average HH Income Estimate: $62,058 $72,882
$65,182
4124 Arkwright Road, Suite 1, Macon, GA 31210 | (478) 750-7507 | Fax (478) 750-9002 | www.thesummitgroupmacon.com For additional information contact:
KEVIN HARKINS | Cell (478) 338-0623 | [email protected]
The information contained herein has been compiled from various sources, both private and public. It is accurate and complete only to the extent to which The Summit Group has been able to ascertain from third party sources. As such, no warranty or guarantee is given or implied with regard to the accuracy or completeness of any information contained herein. Any interested party shall be required to conduct its own due diligence and investigations to verify, review, audit, or otherwise insure the information contained herein.
1104 N Westover Boulevard Albany, GA 31707 Dougherty County
4124 Arkwright Road, Suite 1, Macon, GA 31210 | (478) 750-7507 | Fax (478) 750-9002 | www.thesummitgroupmacon.com For additional information contact:
KEVIN HARKINS | Cell (478) 338-0623 | [email protected]
The information contained herein has been compiled from various sources, both private and public. It is accurate and complete only to the extent to which The Summit Group has been able to ascertain from third party sources. As such, no warranty or guarantee is given or implied with regard to the accuracy or completeness of any information contained herein. Any interested party shall be required to conduct its own due diligence and investigations to verify, review, audit, or otherwise insure the information contained herein.
1104 N Westover Boulevard Albany, GA 31707 Dougherty County
INVESTMENT PROPERTY
GALLERIA SHOPPING CENTER • 21,282 SF multi-tenant center situated on 2.49 acres • 100% leased a/o July, 2016 • Built 1998 • Property maintained above 90% throughout the most recent recession
occupancy
• Below market rents with tremendous upside potential • Cap rate – 5.8% • High traffic location adjacent to Verizon and across from the new Cheddar’s Café off Liberty Expressway • Major retailers in the immediate area include Sam’s Club, Lowe’s, Home Depot, Target, Kmart and the Albany Mall
4124 Arkwright Road, Suite 1, Macon, GA 31210 | (478) 750-7507 | Fax (478) 750-9002 | www.thesummitgroupmacon.com For additional information contact:
KEVIN HARKINS | Cell (478) 338-0623 | [email protected]
The information contained herein has been compiled from various sources, both private and public. It is accurate and complete only to the extent to which The Summit Group has been able to ascertain from third party sources. As such, no warranty or guarantee is given or implied with regard to the accuracy or completeness of any information contained herein. Any interested party shall be required to conduct its own due diligence and investigations to verify, review, audit, or otherwise insure the information contained herein.
v1
1104 N Westover Boulevard Albany, GA 31707 Dougherty County Rent Roll a/o July, 2016 Unit
Tenant
SF
Rent
Suites 1, 4&8
MCC Georgia, LLC
6,750
$5,800.00
Suite 2
World Finance Corporation of Albany
1,500
$1,648.17
Suite 3
The Dive Shop
1,500
$1,175.00
Suite 5
Dave Sirmans
1,500
$850.00
Suite 6A
Affordable Care, Inc.
2,200
$2,489.67
Suites 6B &7
Flint River Bible Fellowship
5,124
$2,200.00
Suite 7A
Adore Beauty and Braiding
1,500
$1,150.00
Suite 9
Department of the Army, Savannah District, Corps of Engineers
PRO-FORMA INCOME STATEMENT Current Rents
$170,538.12
CT&I Income
$26,504.04
Gross Income
$197,042.16
EXPENSES Management Fees (5%)
$8,526.91
Property Insurance
$5,618.00
Property Taxes
$32,753.00
Repairs & Maintenance Reserve (5%)
$8,526.91
Utilities & Landscaping
$2,786.79 $58,211.61
NET OPERATING INCOME 1,208
$138,830.55
$1,107.34
*CT&I included in lease rate if applicable.
4124 Arkwright Road, Suite 1, Macon, GA 31210 | (478) 750-7507 | Fax (478) 750-9002 | www.thesummitgroupmacon.com For additional information contact:
KEVIN HARKINS | Cell (478) 338-0623 | [email protected]
The information contained herein has been compiled from various sources, both private and public. It is accurate and complete only to the extent to which The Summit Group has been able to ascertain from third party sources. As such, no warranty or guarantee is given or implied with regard to the accuracy or completeness of any information contained herein. Any interested party shall be required to conduct its own due diligence and investigations to verify, review, audit, or otherwise insure the information contained herein.
1104 N Westover Boulevard Albany, GA 31707 Dougherty County Traffic Count: (GA DOT 2015 Published Data estimate) Liberty Expressway N of Albany Mall – 19,200 vpd Westover Boulevard S of Albany Mall – 16,600 vpd
Demographics 1 Mile 2016 Population: 4,374
3 Miles
5 Miles
34,321
65,108
2021 Population Estimate: 4,302
34,348
65,031
2016 Households: 2,115
14,748
26,368
2021 Households Estimate: 2,076
14,722
26,285
2016 Average HH Income: $56,030
$66,214
$59,437
2021 Average HH Income Estimate: $62,058 $72,882
$65,182
4124 Arkwright Road, Suite 1, Macon, GA 31210 | (478) 750-7507 | Fax (478) 750-9002 | www.thesummitgroupmacon.com For additional information contact:
KEVIN HARKINS | Cell (478) 338-0623 | [email protected]
The information contained herein has been compiled from various sources, both private and public. It is accurate and complete only to the extent to which The Summit Group has been able to ascertain from third party sources. As such, no warranty or guarantee is given or implied with regard to the accuracy or completeness of any information contained herein. Any interested party shall be required to conduct its own due diligence and investigations to verify, review, audit, or otherwise insure the information contained herein.
1104 N Westover Boulevard Albany, GA 31707 Dougherty County
4124 Arkwright Road, Suite 1, Macon, GA 31210 | (478) 750-7507 | Fax (478) 750-9002 | www.thesummitgroupmacon.com For additional information contact:
KEVIN HARKINS | Cell (478) 338-0623 | [email protected]
The information contained herein has been compiled from various sources, both private and public. It is accurate and complete only to the extent to which The Summit Group has been able to ascertain from third party sources. As such, no warranty or guarantee is given or implied with regard to the accuracy or completeness of any information contained herein. Any interested party shall be required to conduct its own due diligence and investigations to verify, review, audit, or otherwise insure the information contained herein.
