Town Central Shopping Center

Town Central Shopping Center

1850 N Columbus St
Milledgeville, GA

Price: $6,340,000
Cap: 8.50%
NOI: $538,806
Building Size: 140,097 SF
Lot Size: 14.6 AC

Investment Highlights

• The subject property is a 140,000 square foot retail center shadow anchored by a Foot Depot in Milledgeville, GA
• Property is 100% leased and is anchored by a high performing Tractor Supply
• While fully stabilized, Town Central presents upside to an investor via lease roll & low rents
• Located in the heart of the Major Retail Corridor of Milledgeville
• Priced below replacement cost | $45.25/SF
• The center has been a high performing retail center over the life of the property, regularly staying close to 100% occupancy
• The center is Shadow Anchored by a Food Depot | Food Depot is available for sale separately of this listing, contact the listing broker for details
• Town Central is anchored by Tractor Supply, which carries a full corporate guarantee and has a net worth of 24.8B
• While stabilized, the center offers long-term upside for an investor
• The average rental rate for this $4.27 | Center is priced at $46.61/SF
• 34% of the shopping center is occupied by 5 Star Furniture (22,017 SF Space + 26,363 SF of Storage)
• 5 Star Furniture has 3 years remaining on their term, and is paying $3.28 for their unit + $1.75/SF for their storage
• This creates an opportunity for an investor to take control of the space at lease roll and lease for higher rents (Tractor Supply paying $5+)
• Property is positioned on the main retail corridor of Milledgeville, GA
• Town Central faces North Columbia Street, which sees 37,500 vehicles per day
• Surrounding Tenants include Walmart, Lowe’s, Hobby Lobby, PetSmart, Big Lots, Harbor Freight, Ollie’s, and more
Zach Taylor
Eric Abbott

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