1631 Gordon Hwy | Augusta, GA 30906
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1631 Gordon Hwy
Augusta, GA 30906
Southgate Plaza · Retail Property For Sale
Investment Highlights
- Dominant Grocer with Strong Sales
- Strong Visibility and Frontage
- Properly Merchandised for Neighborhood Demographics with a Strong Mix of Regional & National Credit Tenants
- Limited Anchored Control with Minimal Options Remaining
- Telling Annual Foot Traffic & Sales
- Tremendous Value Enhancement Opportunities
Executive Summary
CBRE’s National Retail Partners-Southeast is proud to offer for sale Southgate Plaza, an 89% occupied, 294,534 SF value-add, grocery-anchored community shopping center in Augusta, GA.
Southgate Plaza is strategically positioned with approximately 876 feet of frontage along Gordon Highway (17,700 VPD) with four points of ingress and egress. The asset benefits from a dominant grocery anchor, Harveys Supermarket, that procured $17.8M ($468 PSF) in annual sales in 2023, making this location the top ranked Harveys store for foot traffic in Georgia (out of 12) and nationwide (out of 25), per Placer.ai. The asset also includes several other highly visited regional and national credit anchors including Roses (#7 store in GA out of 44), Citi Trends (#16 store in GA out of 57), City Gear (#2 store in GA out of 20), It’s FashionMetro (#3 store out of 24 in GA), Little Caesars, Waffle House and Dollar Tree.
Southgate Plaza represents an opportunity to invest in a well-performing and merchandised grocery-anchored community shopping center with rare value-add creation opportunities that will drive an outsized CAGR.
Southgate Plaza is strategically positioned with approximately 876 feet of frontage along Gordon Highway (17,700 VPD) with four points of ingress and egress. The asset benefits from a dominant grocery anchor, Harveys Supermarket, that procured $17.8M ($468 PSF) in annual sales in 2023, making this location the top ranked Harveys store for foot traffic in Georgia (out of 12) and nationwide (out of 25), per Placer.ai. The asset also includes several other highly visited regional and national credit anchors including Roses (#7 store in GA out of 44), Citi Trends (#16 store in GA out of 57), City Gear (#2 store in GA out of 20), It’s FashionMetro (#3 store out of 24 in GA), Little Caesars, Waffle House and Dollar Tree.
Southgate Plaza represents an opportunity to invest in a well-performing and merchandised grocery-anchored community shopping center with rare value-add creation opportunities that will drive an outsized CAGR.
PROPERTY FACTS
Sale Type
Investment
Property Type
Building Size
294,534 SF
Building Class
C
Year Built/Renovated
1958/1991
Price
$18,400,000
Price Per SF
$62
Cap Rate
8.50%
NOI
$1,563,258
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.19
Land Acres
34.85 AC
Opportunity Zone
Yes
Zoning
C4 – Commercial Tracts
Amenities
- Pylon Sign
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $4,163,979 | |
| Land Assessment | $813,876 | Total Assessment | $4,977,855 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$813,876
Improvements Assessment
$4,163,979
Total Assessment
$4,977,855
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