308 Mary St, Waycross, GA 31501-3721
This exceptional Waycross commercial property at 308 Mary Street offers a compelling investment opportunity. The 24,500 square foot building currently houses two established tenants, The Crest Cafe and Wiley's Top Shelf, generating a substantial monthly rental income of $6,000. This income stream is complemented by an additional 12,000 square feet of readily available space upstairs, presenting significant potential for future lease agreements and increased revenue. The property sits on a 0.31-acre lot and boasts convenient access via three street entrances on Mary Street, Lott Street, and Alice Street. A spacious courtyard adds to the property's appeal and functionality. The building's size and location in the heart of Waycross make it an ideal investment for those seeking a strong return on investment in a thriving commercial area. The existing tenants provide a stable income base, while the substantial vacant space offers considerable upside potential for growth and expansion. This property presents a rare opportunity to acquire a well-situated, income-producing commercial building with significant room for future development. The combination of existing rental income and the potential for increased occupancy makes this a highly attractive investment prospect.
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Heritage Residential Realty Real Estate Agency
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The Crest Cafe & Shoppe Department Store
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kress Real Estate Real Estate Agency
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendProperty tax & assessments
Tax year 2023Comparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Property description
Physical attributes from public recordsZoning & alternative use
UNZONED URBAN · Waycross, GAWaycross. Always verify with local authorities before improvements.
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.