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Wells Fargo Anchored Building With Significant Upside | 19,962 SF

1505 Newcastle Street
Brunswick, GA 31520
PRICE : $1,300,000
PROPERTY TYPE: Retail
SITE SIZE: 0.24 Acres
BUILDING SIZE: 19,962 SF

Highlights

  • 19,962 SF retail building
  • Street front space
  • 2nd floor of property overlooks Oglethorpe Bay
  • Huge upside - 15,171 vacant space
  • Income from Wells Fargo - just signed 5 year renewal

Description

Approximately 19,962 SF building provides the opportunity to acquire a well located street front retail property with income from Wells Fargo as well as upside from approximately 15,171 SF of vacant space.

Wells Fargo just signed a five year lease renewal on approximately 4,791 SF on the first floor at $75,000/year. If you ignore the upside of leasing or using the rest of the building, at list price the property provides an approximate 5% cap rate on existing income from national credit tenant with existing 76% vacancy.

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