2526 Dawson Rd Albany, GA 31707-1358
- Community centers
- 18,380 SF
- 1.62 lot acres
Current Use by Public Records
- House of China Restaurant II / Chinese Restaurant
Property Details for 2526 Dawson Rd
- Year built
- 1982
- Construction
- CONCRETE
- Lot size
- 1.62 lot acres
- Property size
- 18,380 SF
- Zone code
- C1
- Property type
- Community centers
- APN
- 040-2/00000/029
- APU
- 40200000029
Description
Barclay Square, a 20,200-square-foot Class B retail center in Albany, Georgia, presents a compelling investment opportunity. This multi-tenant property, situated on a 1.62-acre lot at 2526 Dawson Rd (APN 040-2/00000/029), boasts a 100% occupancy rate with three tenants. The center, built in 1982 and extensively renovated in 2024, features a single-story building and offers significant upside potential. The current Net Operating Income (NOI) stands at $245,016, yielding a 9.00% capitalization rate at an asking price of $2,725,000. Recent lease extensions with long-term tenants, House of China (40 years at this location) and Shoe Box (36 years at this location), along with a new lease with Bin Palace (opened March 2024), demonstrate strong tenant history and stability. The average rent is currently $12 per square foot, significantly below the market rate of $16 per square foot (according to Costar). 67% of leases are gross leases with two years remaining, offering a future opportunity to convert to NNN leases. Recent capital expenditures include major roof repairs, HVAC upgrades, gutter repairs, façade improvements (including reglazing storefront windows and soffit repair), and parking lot resealing, all completed in 2023. This property offers a blend of established tenancy, recent improvements, and significant rental growth potential.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $1,655,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $1,525,000
- 6.5%
- $1,640,000
- 7%
- $1,655,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $1,330,000
- Geo Method
- $1,570,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $1,370,000
- Retail
- $1,670,000
- Mixed-Use
- $1,855,000
- Hospitality
- $1,710,000
- Educational
- $1,490,000
- Residential Income
- $1,410,000
- Energy
- $1,540,000
- Income-Based Land
- $1,890,000
- Food Service
- $1,645,000
Location Insight
- Map
- Local Demand
- City
- Albany
- County
- Dougherty
- State
- Georgia
- Longitude
- -84.2137
- Latitude
- 31.6112
- CBSA code
- 10500
- CBSA name
- ALBANY, GA METROPOLITAN STATISTICAL AREA
