Historical Retail Sale Listing - College Village (12.5% CAP Current)

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College Village (12.5% CAP Current)

5045 Memorial Drive, Stone Mountain, GA 30083

N/A

19,306 SF | Retail

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Retail Property - Off Market

Price:
N/A
Gross Leasable Area:
19,306 SF
Property Type:
Retail
Property Sub-type:
Strip Center
Additional Sub-types:
Economy/ Limited Service
Garden/Low-Rise
Retail (Other)
Property Use Type:
Investment
Commission Split:
6%
Cap Rate:
12.55%
Occupancy:
100%
No. Stories:
1
Tenancy:
Multiple
Year Built:
1973
Lot Size:
2.27 AC
Listing ID
17193053
Last Updated
over 1 year ago

Highlights

  • 100% Leased with Below Market Rents
  • Priced to Sell at 12.55% CAP ($50 per square foot)
  • Property in Excellent Condition (New Roof & HVAC)
  • Surrounding retailers include: Publix, Office Depot, Save a Lot, Auto Zone, IHOP, Family Dollar, & Taco Bell
  • 2009 Average Daily Traffic Count of 45,000
  • 5-Mile Average household Income is $65,000

Description

Marcus & Millichap is pleased to exclusively present for sale College Village, a 19,306+/- square foot 100% leased Retail Strip Center located less than 10 miles east of downtown Atlanta on busy Memorial Drive in Stone Mountain (DeKalb County), GA.
The previous owner of College Village had his loan of $1,800,000 foreclosed on in March 2011. The property is now fully stabilized by a mix of complimentary local tenants who have recently executed leases at below market rates. The property is in excellent condition and recently received several upgrades including a new roof and new HVAC.
College Village offers an investor the opportunity to acquire a well located, attractively priced, fully stabilized,retail center in excellent condition in a core market for an attractive 12.55% CAP or $54 psf.

College Village is situated on a primary east-west thoroughfare for DeKalb and Gwinnett County that carries over 45,000 vehicles a day. The 5-Mile average household income is $65,000 and population is over 260,000. The property is located in a strong retail corridor that includes: Publix, Office Depot, Save a Lot, Dollar Tree, Auto Zone, IHOP, Family Dollar, & Taco Bell.

Map of 5045 Memorial Drive, Stone Mountain, GA 30083 (Dekalb County)

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