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    262 Ocilla Hwy Fitzgerald, GA 31750

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    For Sale
    Contact for pricing

    56,312 SF shopping center anchored by Dollar Tree and Hibbett.

    Property size:
    56,312 SF

    Property Features for 262 Ocilla Hwy

    General Information

    Size
    56,312 SF

    We can help!

    Listing Contact
    Louise Jennings-McCullar
    Source: Realestatesoutheast

    Listing Agent: Louise Jennings-McCullar

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Fitzgerald Shopping Center For Sale

    Colony Square is a shopping center with ±56,312 square feet of space, situated at the southwest corner of Ocilla Highway and Benjamin H Hill Drive in Fitzgerald, Georgia. Anchored by a newly expanded Dollar Tree, Hibbett, and It’s Fashion Metro, the property is strategically positioned along Fitzgerald's main retail thoroughfare, surrounded by retailers such as Wendy's, Advanced Auto Parts, McDonald's, Aaron's, Family Dollar, CVS, Zaxby's, and Walmart Supercenter. Colony Square is adjacent to national and regional tenants, including Tractor Supply, Farmer's Furniture, Sonic, and Burger King. Located at the northeast corner of US Highway 129 (Ocilla Highway) and Industrial Drive in Fitzgerald, Ben Hill County, GA, Colony Square is at the heart of the commercial center in Fitzgerald, serving a 25-mile trade area with over 92,000 people. The property benefits from great visibility and access, along with pylon signage at the main entrance. Major tenants include Tractor Supply, Farmer Furniture, Dollar Tree (expanded 2024), It's Fashion Metro, and Hibbett Sports. Restaurant space with a drive-thru end cap is available, ranging from 1200 to 3600 square feet. Dollar Tree expanded into the former Goody's in 2024. The former Dollar Tree space, measuring 8800 square feet, is also available.
    Location Intelligence

    Current Use by Public Records

    Hibbett Sports Shoe Store Farmers Home Furniture ... Furniture Store Royal Nail Spa ... Nail Salon 101 Smoke Shop Tobacco Shop Tractor Supply Co. Animal Feed Store

    Suggested Use

    Realty agency Restaurant Law Firm Building Supply Dental Office Spa & Massage Wholesale Shop Hair Salon Auto Repair Shop Clothing Store

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    Quick-Tag, Colony Square Shopping Center

    Location Insight

    • Map
    • Local Demand
    City
    Fitzgerald
    County
    Ben Hill
    State
    Georgia
    Longitude
    -83.2453397
    Latitude
    31.6955532

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    FAQs

    What type of property is this?
    Shopping center - 56,312 SF shopping center anchored by Dollar Tree and Hibbett.
    Where is this shopping center located?
    The property is located at 262 Ocilla Hwy Fitzgerald, GA.
    What is the asking price?
    The asking price for this property is $7.
    What are key features of this property?
    This property features: - Anchored by newly expanded Dollar Tree, Hibbett Sports, and It's Fashion Metro.; - Strategically located on the main retail thoroughfare (Ocilla Highway) in Fitzgerald.; - High visibility and easy access.
    (404) 606-3285
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    262 Ocilla Hwy Fitzgerald, GA 31750
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    262 Ocilla Hwy Fitzgerald, GA 31750
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    We can help!
    Listing Contact
    Louise Jennings-McCullar
    Real Estate License ID: GA #166727
    (404) 606-3285
    Learn more
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