2922 Watson BlvdCenterville, GA 31028

Property Details for 2922 Watson Blvd

Year built

1994

Construction

STEEL FRAME

Lot size

49.90 AC

Property size (Sq ft)

226,032 SF

Zone code

C2

Property type

Commercial real estate

APN

0C0200 009000

APU

0C0200009000

Description

This exceptional 480,808 square foot shopping center in Centerville, Georgia presents a compelling investment opportunity. Located at 2922 Watson Blvd, 31028, this Class B, multi-tenant property boasts a 94% occupancy rate and a strong NOI of $3,050,869, yielding an attractive 11.70% cap rate. The asking price is $26,000,000, translating to $54.08 per square foot. Built in 1994 on a 50.82-acre lot, the property offers fee simple ownership. Recent successful anchor repositioning, including the addition of Conn's Home Plus and Crunch Fitness, demonstrates the center's adaptability and potential for future growth. The property benefits from its location within a robust retail corridor, featuring over 50,000 vehicles per day and proximity to major retailers such as Walmart, Target, Kroger, and more. Further enhancing its appeal, the adjacent construction of a 156-unit multifamily development, Abbington at Galleria, is expected to drive increased foot traffic and further solidify the center's position within the market. This property offers a unique blend of established success and future growth potential, making it an ideal investment for discerning buyers seeking a core+ asset with significant upside. The 100% ownership structure provides flexibility for repositioning or redevelopment.

Location Insight

City

Centerville

County

Houston

State

Georgia

Latitude

32.6205

Longitude

-83.6872

CBSA code

47580

CBSA name

WARNER ROBINS, GA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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