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Mountain East Shopping Center 5295 Highway 78 83,291 SF 90% Leased Retail Building Stone Mountain, GA 30087 For Sale 8% Cap Rate
Investment Highlights
- Anchored by prominent tenant
- High traffic area
Executive Summary
TSCG, acting as exclusive agent on behalf of the Owner, is pleased to offer for sale a 100% fee simple interest in Mountain East Shopping Center in Stone Mountain (Atlanta MSA), Georgia. Mountain East totals 83,921 square feet of gross leasable area and is anchored by a thriving LA Fitness health club, which occupies 45,000 SF and received 300,000 visitors in the past twelve months. Additional national/regional tenants include Total by Verizon (new lease), Hair Clippers, Republic Finance and Athlete’s Foot. Mountain East was constructed in 1983 and renovated in 2012 (when LA Fitness replaced a Kroger store), is currently 89% leased and is being offered free of existing financing.
Mountain East Shopping Center is situated at the signalized intersection of Stone Mountain Highway (GA 78) – the primary retail corridor of the trade area – and East Park Place Boulevard. The Property is located 8 miles east of Interstate 285 and 2 miles from Stone Mountain Park, which receives over 4 million visitors annually.
Mountain East Shopping Center is situated at the signalized intersection of Stone Mountain Highway (GA 78) – the primary retail corridor of the trade area – and East Park Place Boulevard. The Property is located 8 miles east of Interstate 285 and 2 miles from Stone Mountain Park, which receives over 4 million visitors annually.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Storefront
Building Size
83,291 SF
Building Class
C
Year Built/Renovated
1983/2012
Cap Rate
8%
Percent Leased
90%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.18
Lot Size
10.82 AC
Zoning
C2, County - Commercial
Parking
300 Spaces (3.6 Spaces per 1,000 SF Leased)
Amenities
- Pylon Sign
Nearby Major Retailers
Property Taxes
| Parcel Number | 6-061-009 | Improvements Assessment | $1,913,720 |
| Land Assessment | $1,183,160 | Total Assessment | $3,096,880 |
Property Taxes
Parcel Number
6-061-009
Land Assessment
$1,183,160
Improvements Assessment
$1,913,720
Total Assessment
$3,096,880
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Mountain East Shopping Center | 5295 Highway 78
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