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Powers Ferry Center 2000 Powers Ferry Rd SE 215,000 SF 100% Leased Office Building Marietta, GA 30067 $19,500,000 ($90.70/SF) 1.25% Cap Rate
INVESTMENT HIGHLIGHTS
- Huge upside value add opportunity with a mix of retail and office.
- The office portion of the property totals approx. 130,000 SF and is 14% leased.
- Over 216,000 people living within a 5-mile radius with an average household income of $138,602, which is expected to grow by 12% over the next 5 years
- The retail portion of the property totals approx. 90,000 SF and is 95% leased.
- Excellent visibility and centrally located at the corner of high-traffic Windy Hill Rd. (27,600 AADT) and Powers Ferry Rd. (35,188 AADT) with signage.
- Many national retailers in the area including Bank of America, Three Dollar Cafe, Dunkin', Starbucks, McDonald's, Chick-fil-A and many more.
EXECUTIVE SUMMARY
The Powers Ferry Center is one of the first mixed use developments in Atlanta, well located in northwest Atlanta near the intersection of I-75 and I-285 and across from Wildwood. The immediate area is well established but has seen a resurgence due to the relocation of the Atlanta Braves baseball stadium and surrounding Battery Park, bringing many more people to the area to live and visit. There are over 216,000 people living within 5 miles of the property.
The subject property provides for immediate upside with leasing efforts on the office component being currently 14% occupied. There is also an additional building attached to the rear of the office built out at as event space and a fitness center, but neither are currently occupied. While the retail is 100% occupied, there is more upside with increasing the rents or replacing some of the current tenants over time to increase the rental income. There is also the potential to covert the office building to residential or more of a medical use.
The subject property provides for immediate upside with leasing efforts on the office component being currently 14% occupied. There is also an additional building attached to the rear of the office built out at as event space and a fitness center, but neither are currently occupied. While the retail is 100% occupied, there is more upside with increasing the rents or replacing some of the current tenants over time to increase the rental income. There is also the potential to covert the office building to residential or more of a medical use.
PROPERTY FACTS
Sale Type
Investment
Property Type
Building Size
215,000 SF
Building Class
B
Year Built
1988
Price
$19,500,000
Price Per SF
$90.70
Cap Rate
1.25%
NOI
$243,154
Percent Leased
100%
Tenancy
Multiple
Building Height
6 Stories
Typical Floor Size
20,000 SF
Slab To Slab
12’
Building FAR
0.63
Lot Size
7.89 AC
Zoning
OHR - Office, Retail
Parking
800 Spaces (3.72 Spaces per 1,000 SF Leased)
AMENITIES
- Banking
- Bus Line
- Conferencing Facility
- Convenience Store
- Dry Cleaner
- Fitness Center
- Food Service
- Restaurant
- Signage
PROPERTY TAXES
| Parcel Number | 17-0941-0-002-0 | Improvements Assessment | $36,612 |
| Land Assessment | $2,671,508 | Total Assessment | $2,708,120 |
PROPERTY TAXES
Parcel Number
17-0941-0-002-0
Land Assessment
$2,671,508
Improvements Assessment
$36,612
Total Assessment
$2,708,120
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Powers Ferry Center | 2000 Powers Ferry Rd SE
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