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Browse More Listings in Shopping Center For Sale, Marietta, GA or Georgia

Shopping Center For Sale

Cobb Marketfair - Foreclosure

3565 Austell Road, Marietta, GA 30008

Price:
$4,500,000
Gross Leasable Area:
120,841 SF
Price/SF:
$37.24
Property Type:
Shopping Center
Property Sub-type:
Neighborhood Center
Additional Sub-types:
Community Center
Power Center
Property Use Type:
Investment
Distressed:
Yes
Cap Rate:
13.14%
Occupancy:
17%
No. Stories:
1
Tenancy:
Multiple
Year Built:
1985
Lot Size:
13.95 AC
Find Out More...

Last Verified 10/30/2009 Listing ID 16263112

Highlights

Value Add Investment at Wholesale Cost
Potential Value of $6,000,000+
Below Replacement Cost: $37/Sq.Ft.

Thriving Area: Hospital & Heavy Retail Nearby
Cobb County Redevelopment District

Description

Cobb Marketfair is a 120,841 square foot neighborhood anchored shopping center. It is 17% leased and will be sold below replacement cost. There is significant upside to an owner who can lease the premises. The property is in leasable condition.

The opportunity is to acquire a neighborhood retail shopping center at wholesale cost. By leasing out the property at the lowest rents in the market, a value increase to $6,000,000 (valued at 9.8% cap rate) is possible; a potential profit of $1,500,000.

The property fronts Austell Road, approximately one mile north of East West Connector, West Cobb's premier retail corridor. The immediate area is home to a 386 room Wellstar Hospital, as well as a thriving population of medical office buildings. The following retailers make this busy area their home:

Financial Summary

Major Tenant Information

Proforma
Net Operating Income
$591,300

Tenant	SF Occupied	Lease Expired
Vacant Anchor Space	57,903
Merle Norman	1,013
Sally Beauty	2,017
Esquire Insurance	1,540
MACO Educators Credit Union	3,017

Map of 3565 Austell Road, Marietta, GA 30008 (Cobb County)

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Created 6/3/2009

Additional Information for 3565 Austell Road Sw, Marietta, GA 30008

Active For Sale - 1 Listing
Active For Lease - 0 Listing
Previously Listed - 0 Historic Listing
Sales Comparables Available - 0 RecentSales Record

View additional information for the property view other currently active listings, previous listings, sales comparables, public records, and county records data for this address.

The information above has been obtained from sources believed reliable. While we do not doubt its accuracy we have not verified it and make no guarantee, warranty or representation about it. It is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions, or estimates used are for example only and do not represent the current or future performance of the property. The value of this transaction to you depends on tax and other factors which should be evaluated by your tax, financial, and legal advisors. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs.

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Shopping Center Property For Sale - Cobb Marketfair - Foreclosure

3565 Austell Road, Marietta, GA, 30008