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Shopping Regional

Westend Village

1041 Westend Dr, Greensboro, GA 30642

Listing Price: $6,000,000

Cap Rate
8.44%
Gross SF
24,543
Rentable SF
24,000
Price/Gross SF
$244.47
Lot Size
10.00 acres
Year Built
2012

Investment Overview

Westend Village features a fully leased 24,000 Flex Industrial/Retail building on a 10 acre parcel in the city of Greensboro, GA. This investment represents an excellent opportunity to acquire a cash flowing asset with major upside attributed to development of the remaining 8 acres. Current zoning allows for flexible uses including self-storage, industrial, retail, hospitality and mixed-use subject to Lake Oconee Village covenants and architectural review. The original site plan in 2006 proposed construction of 5 buildings with over 100,200 square feet of buildable space. Initial construction of the current building started in 2012 with exterior improvements + interior buildouts completed in 2021. United States Postal Service completed a build-to-suit regional carrier hub on the end cap unit in 2021 with additional fenced parking and modifications to dock level door access along the back of the building. The immediate area serves as a central hub of commercial activity for the Lake Oconee community that's adjacent to major retailers, churches, schools and hospitals. Lake Oconee features many affluent master-planned golf course communities and lodging (Ritz Carlton) - wealthy demographic are well defined in a 1-mile radius with household incomes averaging $188k annually.

Investment Highlights

  • 10 Total Acres | Fully Leased 24,000 Square Foot Flex Retail/Industrial Building on 2 Acres | 8 Additional Acres of Pad Ready Land
  • U.S. Postal Service Regional Operations Facility - 2021 Build to Suit | 6,000 Square Foot End Cap + Fenced Parking Lot Expansion
  • Value Add Potential - Original Development Plans (2006) Speculated 5 Total Buildings w/100,200 Square Feet of Buildable Space
  • Zoned C4 Commercial - Allows for Various Uses Including Mixed-Use, Self Storage and Industrial - Subject to Lake Oconee Village CCR's
  • Centralized Hub Location | Adjacent to Reynolds Plantation | Secondary Frontage on Lake Oconee Parkway/Highway 44 with 15,800 ADT
  • Lake Oconee Features Several Affluent Master-Planned Golf Course Communities | Wealthy Demographics - $188k Average HH Income 1-Mile
  • 60 Miles East of Atlanta MSA and 60 Miles West of Augusta Along I-20 Corridor | Rapidly Expanding Distribution Corridor
  • Development Plans are Currently Under Proposal for Major Industrial, Retail and Lifestyle Projects Surrounding Lake Oconee Submarket

Exclusively Listed By

Shopping Regional

Westend Village

Listing Price: $6,000,000

Cap Rate
8.44%
Gross SF
24,543
Rentable SF
24,000
Price/Gross SF
$244.47
Lot Size
10.00 acres
Year Built
2012

Investment Highlights

  • 10 Total Acres | Fully Leased 24,000 Square Foot Flex Retail/Industrial Building on 2 Acres | 8 Additional Acres of Pad Ready Land
  • U.S. Postal Service Regional Operations Facility - 2021 Build to Suit | 6,000 Square Foot End Cap + Fenced Parking Lot Expansion
  • Value Add Potential - Original Development Plans (2006) Speculated 5 Total Buildings w/100,200 Square Feet of Buildable Space
  • Zoned C4 Commercial - Allows for Various Uses Including Mixed-Use, Self Storage and Industrial - Subject to Lake Oconee Village CCR's
  • Centralized Hub Location | Adjacent to Reynolds Plantation | Secondary Frontage on Lake Oconee Parkway/Highway 44 with 15,800 ADT
  • Lake Oconee Features Several Affluent Master-Planned Golf Course Communities | Wealthy Demographics - $188k Average HH Income 1-Mile
  • 60 Miles East of Atlanta MSA and 60 Miles West of Augusta Along I-20 Corridor | Rapidly Expanding Distribution Corridor
  • Development Plans are Currently Under Proposal for Major Industrial, Retail and Lifestyle Projects Surrounding Lake Oconee Submarket

Investment Overview

Westend Village features a fully leased 24,000 Flex Industrial/Retail building on a 10 acre parcel in the city of Greensboro, GA. This investment represents an excellent opportunity to acquire a cash flowing asset with major upside attributed to development of the remaining 8 acres. Current zoning allows for flexible uses including self-storage, industrial, retail, hospitality and mixed-use subject to Lake Oconee Village covenants and architectural review. The original site plan in 2006 proposed construction of 5 buildings with over 100,200 square feet of buildable space. Initial construction of the current building started in 2012 with exterior improvements + interior buildouts completed in 2021. United States Postal Service completed a build-to-suit regional carrier hub on the end cap unit in 2021 with additional fenced parking and modifications to dock level door access along the back of the building. The immediate area serves as a central hub of commercial activity for the Lake Oconee community that's adjacent to major retailers, churches, schools and hospitals. Lake Oconee features many affluent master-planned golf course communities and lodging (Ritz Carlton) - wealthy demographic are well defined in a 1-mile radius with household incomes averaging $188k annually.

Exclusively Listed By

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