308 Mary StWaycross, GA 31501

This exceptional value-add opportunity presents a two-tenant retail building at 308 Mary Street, Waycross, Georgia, 31501. The 24,500 square foot property, situated on a 0.31-acre lot, boasts a strong location with convenient access via Mary, Lott, and Alice Streets. Built in 1912 and renovated in 2018 and 2023, the two-story building currently features a 75% occupancy rate with two tenants, generating a current NOI of $72,000 and a 13.85% cap rate. A pro-forma NOI of $120,000 projects a compelling 23.08% cap rate. The asking price is $520,000, translating to $21.22 per square foot. The property is zoned C3 and offers significant upside potential with over 12,000 square feet of available space upstairs. Current leases are modified, multi-tenant, with a remaining term of 2.1 years, commencing January 1, 2024, and expiring January 1, 2027. This property represents a rare chance to acquire a well-located, income-producing retail asset in a growing market with substantial value-add potential. The property's strong location and existing tenant base provide a solid foundation for future growth and increased profitability.