2306 Memorial DrWaycross, GA 31501

Property Details for 2306 Memorial Dr

Year built

1979

Construction

WOOD

Lot size

0.88 AC

Property size (Sq ft)

3,910 SF

Zone code

UNZONED SUBURBAN

Property type

Retail properties

Property subtype

Turn key restaurants

APN

WA24-09-004

APU

WA2409004

Description

This exceptional commercial property, located at 2306 Memorial Drive in Waycross, Georgia, presents a unique investment opportunity. The 0.88-acre lot boasts an existing 3,910 square foot restaurant, currently operating as New Hong Kong Buffet, complete with a drive-thru and ample parking (48 spaces). Its strategic outparcel location adjacent to Lowe's Home Improvement Center on a major thoroughfare ensures high visibility and accessibility. The property benefits from excellent exposure on Memorial Highway (also known as Jacksonville Highway/Rt 1, Hwy 23/Hwy 4), situated at a lighted intersection with Hatcher Point Road, providing direct access to Lowe's. Convenient rear access to Lowe's is also available via a dedicated driveway. Across the street lies the Mall of Waycross, further enhancing the property's desirability. The surrounding area is densely populated with major retailers including Belk, TJ Maxx, Walmart, Staples, Mattress Firm, Aspen Dental, Ruby Tuesday, Hwy 55 Diner, McDonald's, Chick-fil-A, Zaxby's, and Verizon. An estimated 9,200 vehicles pass daily, underscoring the significant traffic volume. The C-2 Highway Commercial zoning allows for a diverse range of business uses, making this property an attractive prospect for both established businesses and new ventures. The asking price is $1,600,000.

• CAP approach

  CAP return

  Valuation

  6%

  $919,632

  6.5%

  $848,891

  7%

  $788,256

• Comparable approach

  Method

  Valuation

  Relative Method

  $670,116

  Geo Method

  $670,116

• Alternative Use

  Use

  Valuation

  Residential

  $716,071

  Hospitality

  $655,918

  Educational

  $545,716

  Medical

  $564,484

  Retail

  $848,891

Location Insight

City

Waycross

County

Ware

State

Georgia

Latitude

31.1974

Longitude

-82.3246

CBSA code

48180

CBSA name

WAYCROSS, GA MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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