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Shopping Community

Kings Bay Village Shopping Center

113 City Smitty Dr, St. Marys, GA 31558

Listing Price: $6,380,000

Cap Rate
8.79%
Gross SF
122,427
Rentable SF
122,427
Price/Gross SF
$52.11
Lot Size
15.01 acres
Year Built
1990

Investment Overview

Marcus & Millichap is pleased to present King’s Bay Village Shopping Center, a +/- 122,500 SF Community Shopping Center located on the signalized corner of Osborn Rd and Charlie Smith Sr Hwy, AADT of 11,800 and 9,810, respectfully. The structure is situated upon 15.01 acres and was built in 1990. This property has 10 points of ingress/egress from Osborne Rd and City Smitty Dr. The structure hosts 11 local and national tenants, including Belk and Kings Bay Cinemas, located inside storefront retail space allotting efficiency and effectiveness in traffic flow throughout the property. This structure is significantly below the replacement cost for a center of this size and quality as it is priced at approximately $52/SF. At 92% occupancy, this opportunity enables a prospective investor the ability to capitalize on the remaining vacancy to fully stabilize the center. Additionally, the property has out-parcel development potential. Per the Camden County Chamber of Commerce, "Historic St. Marys Georgia offers picturesque streets lined with centuries old live-oaks and the restorative beauty of waterways and marshes. Once home to pirates, smugglers, and a robust shipping industry, today the city prides itself on a diverse blend of residents and has sustained a rich and varied history. Part of surrounding Camden County, St. Mary’s is “Georgia’s Coastal Community of Choice”. The county’s prime location along the Atlantic gives its citizens the attraction of a small, quaint coastal town. Camden County is best known for its rich history, natural scenic beauty and Southern hospitality. Work and leisure depend on the sea, the forests and the mild climate, with average temperatures year-round. There are 3 incorporated cities within Camden County, including Woodbine, Kingsland and St. Marys. St. Mary’s supports the Kings Bay Naval Base. The base’s population is over 9,000, which includes navy personnel, their family members and civilians. The base serves as the east coast home of the Trident nuclear powered submarine program, powered by state-of-the- art Atlantic Fleet’s Ballistic and Guided Missile Submarines."

Investment Highlights

  • Price/Sq Ft $52
  • Adjacent Center Obtains $9.20/SF in Base Rent
  • 13.95% Cash on Cash Return Achievable in Year 2 With Current Financing Options
  • Value-Add Upside With 93% Occupancy
  • Located Approximately 4 Miles from King's Bay Naval Base Which Encompasses +/- 16,000 acres and Employs 9,000 Service Members
  • Additional Outparcels Available
  • 10 Points of Ingress/Egress Allotting Ease of Transportation

Exclusively Listed By

Broker of Record

  • John M. Leonard

    First Vice President/Regional Manager

    (678) 808-2700

    License(s) GA: 252904

    Georgia

Financing By

Shopping Community

Kings Bay Village Shopping Center

Listing Price: $6,380,000

Cap Rate
8.79%
Gross SF
122,427
Rentable SF
122,427
Price/Gross SF
$52.11
Lot Size
15.01 acres
Year Built
1990

Investment Highlights

  • Price/Sq Ft $52
  • Adjacent Center Obtains $9.20/SF in Base Rent
  • 13.95% Cash on Cash Return Achievable in Year 2 With Current Financing Options
  • Value-Add Upside With 93% Occupancy
  • Located Approximately 4 Miles from King's Bay Naval Base Which Encompasses +/- 16,000 acres and Employs 9,000 Service Members
  • Additional Outparcels Available
  • 10 Points of Ingress/Egress Allotting Ease of Transportation

Investment Overview

Marcus & Millichap is pleased to present King’s Bay Village Shopping Center, a +/- 122,500 SF Community Shopping Center located on the signalized corner of Osborn Rd and Charlie Smith Sr Hwy, AADT of 11,800 and 9,810, respectfully. The structure is situated upon 15.01 acres and was built in 1990. This property has 10 points of ingress/egress from Osborne Rd and City Smitty Dr. The structure hosts 11 local and national tenants, including Belk and Kings Bay Cinemas, located inside storefront retail space allotting efficiency and effectiveness in traffic flow throughout the property. This structure is significantly below the replacement cost for a center of this size and quality as it is priced at approximately $52/SF. At 92% occupancy, this opportunity enables a prospective investor the ability to capitalize on the remaining vacancy to fully stabilize the center. Additionally, the property has out-parcel development potential. Per the Camden County Chamber of Commerce, "Historic St. Marys Georgia offers picturesque streets lined with centuries old live-oaks and the restorative beauty of waterways and marshes. Once home to pirates, smugglers, and a robust shipping industry, today the city prides itself on a diverse blend of residents and has sustained a rich and varied history. Part of surrounding Camden County, St. Mary’s is “Georgia’s Coastal Community of Choice”. The county’s prime location along the Atlantic gives its citizens the attraction of a small, quaint coastal town. Camden County is best known for its rich history, natural scenic beauty and Southern hospitality. Work and leisure depend on the sea, the forests and the mild climate, with average temperatures year-round. There are 3 incorporated cities within Camden County, including Woodbine, Kingsland and St. Marys. St. Mary’s supports the Kings Bay Naval Base. The base’s population is over 9,000, which includes navy personnel, their family members and civilians. The base serves as the east coast home of the Trident nuclear powered submarine program, powered by state-of-the- art Atlantic Fleet’s Ballistic and Guided Missile Submarines."

Exclusively Listed By

Broker of Record

  • John M. Leonard

    First Vice President/Regional Manager

    (678) 808-2700

    License(s): GA: 252904

    Georgia

Financing By

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