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Shopping Strip

Walmart Shadow Center

244 Cordele Rd, Albany, GA 31705

Listing Price: $6,015,000

Cap Rate
7.75%
Gross SF
36,000
Rentable SF
36,000
Price/Gross SF
$167.08
Lot Size
4.98 acres
Year Built
2011

Investment Overview

WALMART SUPERCENTER SHADOW CENTER • The subject property is a 36,000 SF Walmart Supercenter shadow anchored retail center located in Albany, GA. • The property is 100% leased to strong national brands such as Shoe Show, Rainbow Shops, DaVita and more • The center boasts an attractive tenant mix with both National & Local (Restaurant & Daily Use) tenants • Leasing Momentum | 2 Leases in 2021 • Strong Tenancy | Avg. Occupancy: 7 Years STRATEGIC LOCATION • The center is shadow anchored by a strong-performing Walmart Supercenter that has been there for nearly a decade • High Traffic Corridor | The center is strategically positioned off GA 300 (29,200 VPD) between Clark Ave (24,000 VPD) and Sylvester Hwy (16,400 VPD). • Limited Competition | Center is isolated from other retail competition and serves as the busiest retail shopping center east of Albany State University (1.73M Annual Visitors) • The subject properties tenant lineup is ideally suited for the demographic of Albany ALBANY, GA • Albany has developed a diversified industrial economy, which includes Proctor & Gamble, MillerCoors, and Mars Chocolate North America. In fact, since 1994, over $800 million has been invested into the community by local industries. • The healthcare and education systems along with the Marine Corps Logistics Base Albany are the largest employers. • Albany is the heart of Plantation Trace, the southern portion of Georgia’s Southern Rivers Region. Known to many as the Artesian City, lying below the land around Albany is the Floridian Aquifer, an ocean of fresh water that feeds the area’s rivers and creeks while fueling its economy. • Albany is home to Albany State University. A public Liberal Arts University with an enrollment of 6,400 students. Albany State was founded in 1903 as the Albany Bible and Manual Training Institute. In 1943 it became a four-year institution and was renamed Albany State College, and in 1996 it gained university status. Programs are offered through the Schools of Arts and Sciences, Business, Education, and Nursing. The 206-acre campus is located in southwest Georgia, 180 miles from Atlanta.

Investment Highlights

  • 100% Leased to Strong National Brands
  • Dominant Center in the Market
  • 12.22% Cash on Cash
  • Leasing Momentum | 2 leases in 2021
  • High Traffic Corridor | 40,400 VPD
  • Average Occupancy | 7 Years

Exclusively Listed By

Shopping Strip

Walmart Shadow Center

Listing Price: $6,015,000

Cap Rate
7.75%
Gross SF
36,000
Rentable SF
36,000
Price/Gross SF
$167.08
Lot Size
4.98 acres
Year Built
2011

Investment Highlights

  • 100% Leased to Strong National Brands
  • Dominant Center in the Market
  • 12.22% Cash on Cash
  • Leasing Momentum | 2 leases in 2021
  • High Traffic Corridor | 40,400 VPD
  • Average Occupancy | 7 Years

Investment Overview

WALMART SUPERCENTER SHADOW CENTER • The subject property is a 36,000 SF Walmart Supercenter shadow anchored retail center located in Albany, GA. • The property is 100% leased to strong national brands such as Shoe Show, Rainbow Shops, DaVita and more • The center boasts an attractive tenant mix with both National & Local (Restaurant & Daily Use) tenants • Leasing Momentum | 2 Leases in 2021 • Strong Tenancy | Avg. Occupancy: 7 Years STRATEGIC LOCATION • The center is shadow anchored by a strong-performing Walmart Supercenter that has been there for nearly a decade • High Traffic Corridor | The center is strategically positioned off GA 300 (29,200 VPD) between Clark Ave (24,000 VPD) and Sylvester Hwy (16,400 VPD). • Limited Competition | Center is isolated from other retail competition and serves as the busiest retail shopping center east of Albany State University (1.73M Annual Visitors) • The subject properties tenant lineup is ideally suited for the demographic of Albany ALBANY, GA • Albany has developed a diversified industrial economy, which includes Proctor & Gamble, MillerCoors, and Mars Chocolate North America. In fact, since 1994, over $800 million has been invested into the community by local industries. • The healthcare and education systems along with the Marine Corps Logistics Base Albany are the largest employers. • Albany is the heart of Plantation Trace, the southern portion of Georgia’s Southern Rivers Region. Known to many as the Artesian City, lying below the land around Albany is the Floridian Aquifer, an ocean of fresh water that feeds the area’s rivers and creeks while fueling its economy. • Albany is home to Albany State University. A public Liberal Arts University with an enrollment of 6,400 students. Albany State was founded in 1903 as the Albany Bible and Manual Training Institute. In 1943 it became a four-year institution and was renamed Albany State College, and in 1996 it gained university status. Programs are offered through the Schools of Arts and Sciences, Business, Education, and Nursing. The 206-acre campus is located in southwest Georgia, 180 miles from Atlanta.

Exclusively Listed By

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