308 Mary StWaycross, GA 31501

Property Details for 308 Mary St

Year built

1912

Lot size

0.31 AC

Property size (Sq ft)

24,500 SF

Zone code

UNZONED URBAN

Property type

Office buildings

APN

WA10-02-039

APU

WA1002039

Description

This exceptional Waycross commercial property at 308 Mary Street offers a compelling investment opportunity. The 24,500 square foot building currently houses two established tenants, The Crest Cafe and Wiley's Top Shelf, generating a substantial monthly rental income of $6,000. This income stream is complemented by an additional 12,000 square feet of readily available space upstairs, presenting significant potential for future lease agreements and increased revenue. The property sits on a 0.31-acre lot and boasts convenient access via three street entrances on Mary Street, Lott Street, and Alice Street. A spacious courtyard adds to the property's appeal and functionality. The building's size and location in the heart of Waycross make it an ideal investment for those seeking a strong return on investment in a thriving commercial area. The existing tenants provide a stable income base, while the substantial vacant space offers considerable upside potential for growth and expansion. This property presents a rare opportunity to acquire a well-situated, income-producing commercial building with significant room for future development. The combination of existing rental income and the potential for increased occupancy makes this a highly attractive investment prospect.

• CAP approach

  CAP return

  Valuation

  6%

  $3,920,000

  6.5%

  $3,618,462

  7%

  $3,360,000

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,666,245

  Geo Method

  $1,666,245

• Alternative Use

  Use

  Valuation

  Residential

  $4,486,892

  Hospitality

  $4,109,969

  Educational

  $3,419,446

  Medical

  $3,537,046

  Retail

  $5,319,138

Location Insight

City

Waycross

County

Ware

State

Georgia

Latitude

31.2107

Longitude

-82.3586

CBSA code

48180

CBSA name

WAYCROSS, GA MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?

Please email our support team at [email protected] and they will add the team member.

How do I access a private listing?

Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.

How can I contact the broker?

We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.

How do I unsubscribe from emails?

At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].