Retail Space / Georgia / Cochran / 31014 / 140 West Dykes Street

140 West Dykes Street

Cochran, GA 31014

Listing ID: 278267

$2,150,000

For Sale

Property Type Retail for Sale : Other Retail
Lot Size Acres 11.260
Building Sq Ft 40,880
Building Price per Sq Ft $52.59
Land Sq Ft 490,485
Land Price per Sq Ft $4.38
NOI $213,339
CAP Rate % 9.92

140 West Dykes Street | for Sale | Thumbnail 2

Property Highlights

• Anchored by Food Depot with Guaranteed Income

• 9.5 Average Weighted Lease Term

• Middle Georgia State University-Cochran Campus within One Mile

• Large Pylon Signage

• NNN Leases

• New 20-Year Roof in 2015

• Stabilized Asset with 100 occupancy

Description

Middle Georgia Plaza is a Food Depot-anchored, 40,880 SF neighborhood shopping center that is situated on an 11.26-acre site. The site is ideally positioned along Cochran's main retail corridor, Dykes Street. The shopping center features highly-visible pylon signage, ±492' of frontage on Dykes St, and abundant surface parking with ±174 spaces (±4.26/1,000 SF ratio). The shopping center is stabilized and currently 100% occupied. The Food Depot grocery store occupies around 71% of the shopping center, while the average weighted lease term is around 9.5 years including the inline retail space. Food Depot operates 36 stores throughout Georgia. They recently executed a ten-year lease, with renewals on five and ten-year terms, providing long-term stability. Food Depot invested close to $600,000 in tenant improvements before opening the store in March 2020. In addition, the grocery store operator also agreed to give the landlord ownership of a large portion of the grocery equipment and fixtures including shelving, coolers, freezers, carts, checkout areas, etc to show their commitment. Pizza Hut is an inline tenant in the shopping center and has operated at the property for 25 plus years. Pizza Hut also recently renovated their space in 2017. The remainder of the inline retail space includes a gym, gaming and convenience store, and a music store. A brand new roof was installed in 2015, and comes with a 20-year transferable warranty.

Attachments & Files

middlegeorgiaplaza-salebrochure-4Tp-XoD.pdf

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Listing Demographics for 140 West Dykes Street Cochran, GA 31014

All information based on the most recently available data (updated annually) and is provided in 1-mile, 3-mile, and 5-mile radii (radiuses) of the property location.

		1-Mile	3-Miles	5-Miles
Total Population		1,726	4,622	7,067
Population Median Age		32	34	36
Population by Age	0-9 Yrs	94 (5%)	453 (9%)	781 (11%)
	10-19 Yrs	624 (36%)	1183 (25%)	1517 (21%)
	20-29 Yrs	379 (21%)	881 (19%)	1135 (16%)
	30-39 Yrs	72 (4%)	395 (8%)	721 (10%)
	40-49 Yrs	139 (8%)	371 (8%)	608 (8%)
	50-59 Yrs	148 (8%)	486 (10%)	825 (11%)
	60-69 Yrs	123 (7%)	399 (8%)	671 (9%)
	70+ Yrs	147 (8%)	456 (9%)	809 (11%)

Median HH Income		$28,909	$44,736	$45,783
Total Household Income	< 24K	172 (40%)	436 (33%)	727 (33%)
	25-49K	91 (21%)	274 (20%)	451 (20%)
	50-74K	58 (13%)	251 (19%)	427 (19%)
	75-99K	68 (16%)	165 (12%)	263 (11%)
	100-199K	22 (5%)	170 (12%)	301 (13%)
	200K+	12 (2%)	15 (1%)	24 (1%)

Highest Education Level	No Diploma	134	266	456
	Diploma or GED	272	880	1566
	Some College	114	426	740
	Assoc. Degree	75	282	417
	Bachelors Degree	37	240	401
	Higher Degree	80	241	391

Total Housing Units		577	1,650	2,793
--Owner-Occupied		207	851	1,515
--Renter-Occupied		217	460	678
Owner-Occupied Values	< 100K	74	377	696
	100-199K	112	361	587
	200-299K	18	93	186
	300-399K	2	19	40
	400-499K	0	0	0
	500K+	0	2	7

Total Working Age Population		1,526	3,896	5,819
In Work Force		395	1,444	2,416
Not In Work Force		1,131	2,452	3,403
Workforce Employed		374	1,343	2,265
Workforce Unemployed		21	101	151
Civlian Workforce		395	1,444	2,416
Military Workforce		0	0	0

Total Households		424	1,312	2,193
Family Households		176	762	1,368
Non-Family Households		248	550	825
Married Couple		124	551	955
Other Family		53	211	413
Married w/Child		62	245	400
Single Male w/Child		0	7	24
Single Female w/Child		9	73	160

Population Change Last Two Decades - Plus Projection

	2000	%	2010	%	2020	%	2030
Georgia	8,186,453	+18	9,687,653	+12	10,833,472	+13	12,292,423
Bleckley County	11,666	+12	13,063	-2	12,838	+3	13,243
Dodge County	19,171	+14	21,796	-6	20,385	-4	19,500
Pulaski County	9,588	+25	12,010	-9	10,893	-7	10,121
Twiggs County	10,590	-15	9,023	-10	8,086	-6	7,604

Total Working Age Population:

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While we strive to provide the most accurate information, all listing information, and demographic data, is provided by third-parties. As such, MyEListing will not be responsible for the accuracy of the information. It is strongly recommended that you verify all information with the listing agent, and any relevant agencies, prior to making any decisions.

Listing Location & Map Views

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