Town Central Shopping Center

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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

TOWN CENTRAL SHOPPING CENTER

• 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

FULLY STABILIZED OFFERING

• 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

VALUE-ADD OPPORTUNITY

• 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+)

HEART OF MAJOR RETAIL CORRIDOR

• 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

678-808-2780 | EMAIL >

Eric Abbott

678-808-2746 | EMAIL >

OFFERING MEMORANDUM

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