Current Use by Public Records
- Lifestyle centers
Property Details for 311 Columbia Ave
- Year built
- 2024
- Lot size
- 0.50 lot acres
- Property type
- Lifestyle centers
- Property subtype
- Power centers
Description
This exceptional investment opportunity presents a brand-new, 4,500-square-foot Sherwin-Williams store in Rincon, Georgia, within the Savannah MSA. Scheduled for completion in November 2024, this Class A retail property boasts a 10-year net lease with a corporate guarantee from Sherwin-Williams (S&P BBB rated). The lease features 5/5-year renewal options with 8% rent bumps, ensuring consistent income growth. Located on a 0.5-1 acre lot at 311 S Columbia Ave, Rincon, GA 31326, this strategically positioned property sits on a main retail thoroughfare, adjacent to a newly developed Zaxby's and near major retailers including Walmart, Lowe's, and Kroger. The site benefits from high traffic counts (over 33,000 cars daily) and excellent demographics, with an average household income exceeding $114,000 within a 3-mile radius and over 30,000 residents within 5 miles. Its proximity to Interstate 95, the Port of Savannah (the busiest container port on the East Coast), and Savannah/Hilton Head International Airport further enhances its appeal. The property offers a strong 6.00% cap rate and a Net Operating Income (NOI) of $168,795. The building features upgraded brick/stucco construction with architectural details. With no other Sherwin-Williams within a 13-mile radius, this location is primed for strong sales and represents a compelling investment opportunity. The asking price is $2,813,250.
Value Estimations
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Rincon
- County
- Effingham
- State
- Georgia
- Longitude
- -81.2329
- Latitude
- 32.2821
