1583 Cherry StJesup, GA 31545

  • Retail properties
  • 10,962 SF
For Sale
$850,000 View listing

Property Details for 1583 Cherry St

Year built
2011
Lot size
2.54 AC
Property size (Sq ft)
10,962 SF
Property type
Retail properties
Property subtype
Retail space
APN
99A-26-5
APU
99A265

Description

This exceptional investment opportunity presents a 10,962 square foot shopping center in Jesup, Georgia. The property sits on a generous 2.54-acre lot and boasts five fully occupied commercial units, generating a substantial monthly income of $5,350. Ample parking is available, ensuring convenient access for tenants and customers alike. The property's strong tenant occupancy guarantees an immediate and consistent cash flow, making it an attractive addition to any real estate portfolio. Annual property taxes are $5,563, and annual insurance premiums are $4,400. This fully operational shopping center is located in a thriving area, offering a stable and profitable investment opportunity. The property's size and location make it ideal for a variety of commercial uses, providing long-term growth potential. This is a turnkey operation, requiring minimal management overhead. The current leases provide a secure income stream, minimizing risk and maximizing return on investment. This property represents a rare chance to acquire a high-performing commercial asset in a desirable location.

Valuation
by Paperhouses methods

Valuation date:
Dec 11, 2024
  • CAP approach

    CAP return
    Valuation
    6%
    $2,578,262
    6.5%
    $2,379,934
    7%
    $2,209,939
  • Comparable approach

    Method
    Valuation
    Relative Method
    $1,878,724
    Geo Method
    $1,878,724
  • Alternative Use

    Use
    Valuation
    Residential
    $2,007,564
    Hospitality
    $1,838,918
    Educational
    $1,529,958
    Medical
    $1,582,576
    Retail
    $2,379,934
1583 Cherry St, Jesup, Georgia

Location Insight

City
Jesup
County
Wayne
State
Georgia
Latitude
31.6204
Longitude
-81.9044
CBSA code
27700
CBSA name
JESUP, GA MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2023
$6,300
$55,880
$154,120
$210,000
-
$139,700
$385,300
$525,000

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