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The Mall At Waycross 2215 Memorial Dr 257,252 SF 77% Leased Retail Building Waycross, GA 31501 $12,579,183 CAD ($48.90 CAD/SF) 9% Cap Rate

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Investment Highlights

  • RARE Value-Add Retail for Sale with 23% Vacancy Upside
  • National Anchors Belk, TJ Maxx, Rural King, Planet Fitness, and Dunham’s Account for Thousands of Daily Shoppers
  • Ideal Central Retail Location Across the Street from Walmart and Lowe’s
  • Offering Price Based on In-Place NOI Only - NO PROFORMA RENT
  • Tremendous Cash-On-Cash Potential with Lease Up of Vacant Space
  • Large Parking Field Allows for Future Expansion or Future Outlot Opportunities

Executive Summary

For sale is the 100% fee-simple interest in The Mall at Waycross, a 338,181 square foot mall in the center of the Waycross, Georgia, retail trade area. The majority of the property’s square footage is devoted to national anchor retailers as opposed to interior mall space. Anchor tenants Belk, TJ Maxx, Planet Fitness, Dunham’s, and Rural King (shadow anchor), account for over 80% of total gross leasable area, leaving a manageable 84,782 square feet of interior space, of which 58,994 square feet is available to be leased or combined to add more anchors. Many of the vacant spaces are located on the front center of the mall, which lends them to be redesigned as junior box spaces with exterior signage and entrances. Tenants currently comprising the interior square footage include Hibbett Sports, Rack Room Shoes, Metro Fashions, Claire’s Boutique, and others. National tenants not yet in the market have expressed interest in combining vacancies to create junior box positions in line with Belk, providing immediate upside to an investor. The property is situated in the center of the Waycross retail trade area with neighbors Walmart Supercenter, Lowe’s, Hobby Lobby, Ross Dress for Less, Bealls, Chick-fil-A, Fairfield Inn & Suites, and many more.
Georgia Broker of Record: Interstate
James Nidiffer
mike@ira-realty.com
888.683.7788 Ext 7716

Property Facts

Sale Type
Investment
Property Type
Retail
Building Size
257,252 SF
Building Class
B
Year Built/Renovated
1974/1996
Price
$12,579,183 CAD
Price Per SF
$48.90 CAD
Cap Rate
9%
NOI
$1,132,117 CAD
Percent Leased
77%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.25
Lot Size
23.68 AC
Opportunity Zone
Yes
Zoning
02
Parking
1,943 Spaces (7.55 Spaces per 1,000 SF Leased)
Frontage
1,437’ on Hatcher Point Rd

Amenities

  • Kiosk/Cart Space
  • Enclosed Mall

Major Tenants

  • Tenant
  • Industry
  • SF Occupied
  • Rent/SF
  • Lease End
  • Retailer
  • -
  • -
  • Aug 2011

Charlotte-based Belk, Inc., a department store providing a variety of clothing, accessories, decor, and furnishings, began when William Henry Belk opened his first store in 1888 with his brother, Dr. John Belk, joining as a partner. What started as two brothers in business has now grown into a legacy of selling great products at great prices, treating customers like family, and giving back to the community. Belk offers a broad assortment of merchandise including apparel, footwear, cosmetics, accessories, home furnishings, and private-label brands through physical stores and e-commerce channels.

  • Retailer
  • -
  • -
  • -

Dunham’s Sports is the Midwest’s largest sporting goods chain! Their roots go back to 1937 in West Bloomfield, MI, when a small shop called Dunham’s Bait & Tackle opened. Over the years with hard work, great customer service and attention to detail they have grown into a full line sporting goods chain serving customers in states, from Wyoming to Maryland. Every one of their stores nationally offers a full line of traditional sporting goods and athletic equipment as well as a wide variety of active and casual sports apparel and footwear. Their motto at Dunham’s Sports is Big Names…Low Prices. That is what they do everyday, gives their customers the choice of the name brands that they want at the lowest prices possible. Customers will notice this in every Dunham’s Sports store they go into where they will find Hot Deals and Sport Values at prices that may be too low to advertise.

  • Arts, Entertainment, and Recreation
  • -
  • -
  • -

Planet Fitness is a public fitness center franchisor and operator headquartered in Hampton, New Hampshire. The company was founded in 1992 and operates within the health and fitness industry, focusing on affordable gym memberships and standardized club formats. Planet Fitness develops, franchises, and operates branded fitness centers that provide cardio, circuit training, and strength equipment, as well as limited in-club instruction. The company’s business model is centered on franchising, with most locations operated by independent franchisees rather than corporate ownership. Planet Fitness supports franchise operations through centralized brand management, equipment sourcing, marketing, and operational systems. Over time, the brand has expanded its footprint beyond the United States into select international markets. Planet Fitness became a publicly traded company in 2015 and is listed on the New York Stock Exchange under the ticker symbol PLNT. In 2024, the company experienced a leadership transition with the appointment of a new chief executive officer. Planet Fitness has also continued to refine its club formats and equipment offerings to support a broader range of fitness preferences. From a real estate perspective, Planet Fitness locations typically occupy large-format retail, power center, or freestanding spaces, with an emphasis on visibility, parking availability, and flexible interior layouts suited to fitness equipment and member circulation.

  • Retailer
  • -
  • -
  • -

The TJX Companies, Inc., a Fortune 100 company, is a off-price retailer of apparel and home fashions in the U.S. and worldwide. Their mission is to deliver great value to customers every day. They do this by offering a rapidly changing assortment of quality, fashionable, brand name, and designer merchandise at prices percentages below full-price retailers’ regular prices on comparable merchandise. They operate stores across nine countries, including TJ Maxx, Marshalls, HomeGoods, Homesense, and Sierra, in the U.S.; Winners, HomeSense, and Marshalls in Canada; TK Maxx and Homesense in Europe, and TK Maxx in Australia. They also operate e-commerce sites for TJ Maxx, Marshalls, and Sierra in the U.S. and sites for TK Maxx in Europe. Their value mission extends to corporate responsibility efforts, which are focused on supporting associates, giving back in the communities they serve, the environment, and operating ethically.

Tenant Industry SF Occupied Rent/SF Lease End
Retailer - - Aug 2011
Retailer - - -
Arts, Entertainment, and Recreation - - -
Retailer - - -

Space Availability

  • Space
  • Size
  • Space Use
  • Position
  • Available
  • 10
  • 4,950 SF
  • Retail
  • In-Line
  • Now
  • 11
  • 1,184 SF
  • Retail
  • In-Line
  • Now
  • 12
  • 1,998 SF
  • Retail
  • In-Line
  • Now
  • 13
  • 2,060 SF
  • Retail
  • In-Line
  • Now
  • 15
  • 660 SF
  • Retail
  • In-Line
  • Now
  • 21
  • 900 SF
  • Retail
  • -
  • Now
  • 22
  • 430 SF
  • Retail
  • In-Line
  • Now
  • 24
  • 430 SF
  • Retail
  • In-Line
  • Now
  • 25
  • 1,600 SF
  • Retail
  • -
  • Now
  • 26
  • 13,890 SF
  • Retail
  • -
  • Now
  • 28
  • 1,564 SF
  • Retail
  • -
  • Now
  • 29
  • 2,392 SF
  • Retail
  • -
  • Now
  • 3
  • 2,500 SF
  • Retail
  • In-Line
  • Now
  • 30
  • 3,036 SF
  • Retail
  • In-Line
  • Now
  • 32
  • 2,990 SF
  • Retail
  • In-Line
  • Now
  • 33
  • 4,950 SF
  • Retail
  • In-Line
  • Now
  • 34
  • 1,132 SF
  • Retail
  • In-Line
  • Now
  • 35
  • 5,125 SF
  • Retail
  • -
  • Now
  • 4
  • 1,188 SF
  • Retail
  • End Cap
  • Now
  • 5
  • 4,259 SF
  • Retail
  • In-Line
  • Now
  • 7
  • 950 SF
  • Retail
  • -
  • Now
  • 8
  • 1,540 SF
  • Retail
  • In-Line
  • Now
Space Size Space Use Position Available
10 4,950 SF Retail In-Line Now
11 1,184 SF Retail In-Line Now
12 1,998 SF Retail In-Line Now
13 2,060 SF Retail In-Line Now
15 660 SF Retail In-Line Now
21 900 SF Retail - Now
22 430 SF Retail In-Line Now
24 430 SF Retail In-Line Now
25 1,600 SF Retail - Now
26 13,890 SF Retail - Now
28 1,564 SF Retail - Now
29 2,392 SF Retail - Now
3 2,500 SF Retail In-Line Now
30 3,036 SF Retail In-Line Now
32 2,990 SF Retail In-Line Now
33 4,950 SF Retail In-Line Now
34 1,132 SF Retail In-Line Now
35 5,125 SF Retail - Now
4 1,188 SF Retail End Cap Now
5 4,259 SF Retail In-Line Now
7 950 SF Retail - Now
8 1,540 SF Retail In-Line Now

10

Size
4,950 SF
Space Use
Retail
Position
In-Line
Available
Now

11

Size
1,184 SF
Space Use
Retail
Position
In-Line
Available
Now

12

Size
1,998 SF
Space Use
Retail
Position
In-Line
Available
Now

13

Size
2,060 SF
Space Use
Retail
Position
In-Line
Available
Now

15

Size
660 SF
Space Use
Retail
Position
In-Line
Available
Now

21

Size
900 SF
Space Use
Retail
Position
-
Available
Now

22

Size
430 SF
Space Use
Retail
Position
In-Line
Available
Now

24

Size
430 SF
Space Use
Retail
Position
In-Line
Available
Now

25

Size
1,600 SF
Space Use
Retail
Position
-
Available
Now

26

Size
13,890 SF
Space Use
Retail
Position
-
Available
Now

28

Size
1,564 SF
Space Use
Retail
Position
-
Available
Now

29

Size
2,392 SF
Space Use
Retail
Position
-
Available
Now

3

Size
2,500 SF
Space Use
Retail
Position
In-Line
Available
Now

30

Size
3,036 SF
Space Use
Retail
Position
In-Line
Available
Now

32

Size
2,990 SF
Space Use
Retail
Position
In-Line
Available
Now

33

Size
4,950 SF
Space Use
Retail
Position
In-Line
Available
Now

34

Size
1,132 SF
Space Use
Retail
Position
In-Line
Available
Now

35

Size
5,125 SF
Space Use
Retail
Position
-
Available
Now

4

Size
1,188 SF
Space Use
Retail
Position
End Cap
Available
Now

5

Size
4,259 SF
Space Use
Retail
Position
In-Line
Available
Now

7

Size
950 SF
Space Use
Retail
Position
-
Available
Now

8

Size
1,540 SF
Space Use
Retail
Position
In-Line
Available
Now

Nearby Major Retailers

Olive Garden
Zaxby's
Ruby Tuesday
Cracker Barrel Old Country Store
Toyota
Ameris Bank
Starbucks
Checkers
Truist
Ellianos Coffee

Property Taxes

Property Taxes

Parcel Number
WA2404-006
Land Assessment
$1,789,240 CAD
Improvements Assessment
$2,235,810 CAD
Total Assessment
$4,025,050 CAD
  • Listing ID: 38669366

  • Date on Market: 2025-12-05

  • Last Updated:

  • Address: 2215 Memorial Dr, Waycross, GA 31501

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