906 1St StVidalia, GA 30474

Property Details for 906 1St St

Year built

1960

Construction

STEEL FRAME

Lot size

2.38 AC

Property size (Sq ft)

36,772 SF

Zone code

RESIDENTIAL

Property type

Strip malls

Property subtype

Neighborhood centers

APN

V25-034

APU

V25034

Description

This exceptional investment opportunity presents the Vidalia Shopping Center, a 53,673 square foot retail property located at 906 E. First St, Vidalia, GA 30474. The property consists of two single-story buildings built in 1960 and 1974, situated on a 2.38-acre lot zoned C1. Currently boasting 100% occupancy with nine tenants, including DaVita, this multi-tenant shopping center offers a strong, diverse tenant mix. The property generates a Net Operating Income (NOI) of $142,819, resulting in a 4.34% cap rate, and is offered at an asking price of $3,290,000. The lease type is modified, with multiple tenants on month-to-month agreements, presenting immediate opportunities for lease renewals and potential rental increases. The center benefits from ample parking and excellent visibility along a main corridor, experiencing a high daily vehicle count of 12,800. A new roof was installed in late 2018. This fee-simple ownership opportunity is a value-add investment in a high-demand area with a vibrant business community. The property's versatile space is suitable for a range of businesses. The property's APN is V25 034.

• CAP approach

  CAP return

  Valuation

  6%

  $6,424,800

  6.5%

  $5,930,590

  7%

  $5,506,970

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,600,900

  Geo Method

  $2,600,900

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $11,223,900

  Mixed-Use / Specialty

  $6,047,350

  Hospitality / Lodging

  $4,616,300

  Office

  $6,155,070

  Institutional / Educational

  $6,336,100

  Residential Income

  $7,413,240

  Multifamily

  $8,126,500

  Automotive / Energy

  $5,430,940

  Parking / Income-Based Land

  $1,737,900

  Restaurant / Food Service

  $3,439,600

  Healthcare / Senior Housing

  $6,060,030

Location Insight

City

Vidalia

County

Toombs

State

Georgia

Latitude

32.2134

Longitude

-82.4012

CBSA code

47080

CBSA name

VIDALIA, GA MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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