DEALS

Deals

Swainsboro Shopping Center – Swainsboro, GA

THE OPPORTUNITY

  • Property is located on the primary retail corridor within the Swainsboro market
  • Over the past few years, new vacancies in the overall center have quickly been backfilled
  • Its Fashion backfilled with Roses Express, and Fred’s backfilled with Family Dollar
  • Strong traffic counts with 15,000 VPD on Main Street
  • Great synergy within the site between Family Dollar and Dollar Tree
  • The roof was replaced in 2018
  • Well-maintained parking lot and landscaping with the parking lot having recently been resealed and striped
  • Parking lot lights upgraded to LED
  • HVACs are relatively new
  • Good signage visibility from Main Street
  • Property is in an opportunity zone
  • Ability to do development on the outparcel

THE DEAL POINTS

  • Square Feet: 41,186 SF
  • Asking Price: $2,030,315
  • NOI: $167,501
  • Asking Cap Rate: 8.25%
  • Year Built/Renovated: 1995/2006

THE HIGHLIGHTS

  • ​The Family Dollar location is an expansion and relocation of a smaller store that had been in its previous location for 40+ years
  • Citi Trends is at a below market rent number of $3.17psf
  • 8,746 sf vacancy will give a buyer value add potential
  • Dollar Tree does $1.8 million in sales, which is a 4.4% health ratio
  • Dollar Tree has term until 2026
  • Family Dollar opened in October w/ term expiring 2/28/28 and has 7-year term
  • Tenant line up is ecommerce resistant and necessity-based operators

Click Here to View Swainsboro Shopping Center Virtual Deal Room