South Georgia Retail

Price: $2,977,500
Sq. Ft.: 5,660
Cap Rate: 6.6%
Built: 1989
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South Georgia Retail is a 5,660-square-foot, multi-tenant retail center located in Amarillo, Texas. The center is 100 percent occupied with a complementary mix of internet-resistant, service-oriented businesses including Battery Joe, Fred Loya Insurance, Cricket Wireless, and Chick’n Cone. All leases are triple-net and include options for renewal with scheduled rent increases. The leases for Battery Joe and Chick’n Cone both have personal guarantees. Originally constructed in 1989 and renovated in 2020, the building is situated on a 0.76-acre parcel.

South Georgia Retail is located on the signalized, hard corner of South Georgia Street and Civic Circle. Traffic counts in front of the subject property are approximately 21,700 vehicles per day. The subject property is less than one-half mile south of Interstate 40, a major east-west thoroughfare with traffic counts of 88,725 vehicles per day. Neighboring retailers include The Home Depot, Office Depot, Jason’s Deli, Rent-A-Center, Denny’s, Market Street Grocery Store, Starbucks, Talbots, Church’s Chicken, Crunch Fitness, Cold Stone Creamery, T-Mobile, Nothing Bundt Cakes, Five Guys Burgers and Fries, Great Clips, Sally Beauty, Chipotle, AT&T, and many others. The surrounding area is densely populated with over 176,635 residents within a five-mile radius, having an average household income of approximately $71,485.

  • 5,660-Square-Foot, Multi-Tenant Retail Center Located in a Dense Retail Trade Area
  • 100% Occupied | All Leases are Triple-Net
  • Tenants are a Complementary Mix of Internet-Resistant, Service-Oriented Businesses
  • Fred Loya and Cricket Wireless have Corporate Guarantees | Battery Joe and Chick’n Cone Leases have Personal Guarantees
  • 79% of the Gross Leasable Area are on 10-Year Terms and Include Scheduled Rent Increases at the End of Lease Year Five | All Leases Contain Options for Renewal
  • Seller Reports New Roof Installation (Summer 2022) and Extensive Property Renovations Completed in 2020, Including Exterior Paint, New Awnings, Lighting, Windows, Doors, Sealing the Parking Lot, and More
  • Signalized, Hard Corner Location at the Intersection of South Georgia Street and Civic Circle | Traffic Counts are Approximately 21,700 Vehicles per Day
  • Less than One-Half Mile from Interstate 40 | Traffic Counts are Approximately 88,725 Vehicles per Day
  • Neighboring Retailers Include The Home Depot, Office Depot, Jason’s Deli, Rent-A-Center, Denny’s, Starbucks, Talbots, and Wolflin Square Shopping Mall
  • Densely Populated Surrounding Area with 176,635 Residents Within Five Miles of the Property
  • ¬†Amarillo is the Largest City in the Texas Panhandle and Serves as the Retail Hub for a Surrounding Population of 310,000 People