4 Proctor StStatesboro, GA 30458

Property Details for 4 Proctor St

Year built

1940

Lot size

0.87 AC

Property size (Sq ft)

14,000 SF

Zone code

CBD

Property type

Retail properties

Property subtype

Strip malls

APN

S18-059-000

APU

S18059000

Description

This exceptional 2.64-acre property in downtown Statesboro offers 14,000 square feet of versatile commercial space, ideal for redevelopment or multiple tenants. Located near key businesses and city amenities, this multi-parcel site boasts over 31,000 square feet under roof, including a former grocery store with impressive 100' x 80' open spans and expansive window lines. The property features over 100 parking spaces, loading docks, drive-in doors accommodating tractor-trailers, and 14-16 foot ceiling heights. Its flexible layout has accommodated various uses, including retail, industrial, and office spaces. Two adjacent buildable lots offer additional development potential. A substantial portion of the property has a newer roof, and the former bar area is sprinklered. The property's prime location in a designated Opportunity Zone may qualify for significant Federal and State tax incentives, with additional incentives potentially available from the City of Statesboro and the Downtown Statesboro Development Authority. The property's configuration allows for single or multiple occupancy, with potential for redevelopment into a large apartment complex (subject to city approval). Individual portions of the property are also available for sale. This presents a tremendous opportunity given Statesboro's explosive growth fueled by the new Hyundai Manufacturing Plant. Space dimensions are available upon request.

• CAP approach

  CAP return

  Valuation

  6%

  $3,079,542

  6.5%

  $2,842,654

  7%

  $2,639,608

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,466,970

  Geo Method

  $2,399,393

• Alternative Use

  Use

  Valuation

  Residential

  $2,397,885

  Hospitality

  $2,196,450

  Educational

  $1,827,420

  Medical

  $1,890,268

  Retail

  $2,842,654

Location Insight

City

Statesboro

County

Bulloch

State

Georgia

Latitude

32.4504

Longitude

-81.785

CBSA code

44340

CBSA name

STATESBORO, GA MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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