Property Highlights:

  • Address: 100 Redfern Village, Unit 4, St. Simons Island, GA 31522
  • Leased to Engel and Volkers, a national real estate company
  • Five-year, three month lease with initial rental rate of $4,200 per month, increasing to $4,305 on November 1, 2019.  Five year option starting at $4,412 per month in November of 2022.
  •  Expenses to the landlord include $300 per month condo association fee and real estate taxes, which were $3,840 last year.  

  • 5.93% cap rate based on Initial NOI of $42,960
  • Two-story retail building in Redfern Village on St. Simons Island
  • 1,700± SF downstairs & 1,000± SF upstairs
  • Asking Price: $725,000

 

Contact: Russell Sweat
Office: 912-634-5900 x 102
Cell: 912-269-4695
rsweat@driggerscommercial.com