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Covington Center 6157-6267 Highway 278 NE 53,923 SF 74% Leased Retail Building Covington, GA 30014 $3,625,000 ($67.23/SF) 7% Cap Rate

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INVESTMENT HIGHLIGHTS

The property comprises 11 units, of which 3 are currently vacant, presenting significant potential for rental income growth.
The center is conveniently close to other shopping destinations and local services, boosting customer traffic. Its location along a busy corridor make
Household incomes are strong and growing, from $73K–$87K in 2024 to a projected $85K–$101K in five years, signaling rising consumer spending power.

Prime location on Highway 278, Covington’s busiest commercial corridor, offering high visibility and strong tenant demand potential.
Covington diverse population with relatively young median age suggests potential consumer demand across multiple demographic groups.

EXECUTIVE SUMMARY

Covington Center is a neighborhood retail shopping center strategically positioned along a major corridor with consistent daily traffic, established nearby amenities, and convenient access to regional routes, giving it strong long-term value in a growing market. The center presents a compelling investment opportunity with significant potential for rental income growth and long-term appreciation.
Covington Center at 6135–6265 Highway 278 is a prime retail location with excellent visibility and convenient access via I-20. This 53,923?SF center features ample parking, strong frontage, and is surrounded by complementary retail and services, creating a high-traffic, attractive destination for shoppers.

Covington Center_Offering Memorandum _L_ - REBRAND

PROPERTY FACTS

Sale Type

Investment

Property Type

Retail

Property Subtype

Freestanding

Building Size

53,923 SF

Building Class

Year Built

1973

Price

$3,625,000

Price Per SF

$67.23

Cap Rate

NOI

$253,595

Percent Leased

74%

Tenancy

Multiple

Building Height

1 Story

Building FAR

0.30

Lot Size

4.13 AC

Zoning

C1 - Retail

Parking

100 Spaces (0.94 Spaces per 1,000 SF Leased)

Frontage

368’ on Us-278 Hwy

Freeway Visibility
Pylon Sign

Signage

Wheelchair Accessible

Air Conditioning

1st Franklin Financial
Finance and Insurance
99,999 SF
$9.99
Jan 0000

A&A's Outlet
Services
99,999 SF
$9.99
Jan 0000

Boost Trampoline Park
Services
99,999 SF
$9.99
Jan 0000

Butcher Block Deli
Accommodation and Food Services
99,999 SF
$9.99
Jan 0000

Elea J's Southern Table
Services
99,999 SF
$9.99
Jan 0000

Petals & Smoke Flower Farm
Services
99,999 SF
$9.99
Jan 0000

Pocket Billiards
Services
99,999 SF
$9.99
Jan 0000

Sunset Finance of Augusta
Services
99,999 SF
$9.99
Jan 0000

TENANT	INDUSTRY	SF OCCUPIED	RENT/SF	LEASE END
1st Franklin Financial	Finance and Insurance	99,999 SF	$9.99	Jan 0000
A&A's Outlet	Services	99,999 SF	$9.99	Jan 0000
Boost Trampoline Park	Services	99,999 SF	$9.99	Jan 0000
Butcher Block Deli	Accommodation and Food Services	99,999 SF	$9.99	Jan 0000
Elea J's Southern Table	Services	99,999 SF	$9.99	Jan 0000
Petals & Smoke Flower Farm	Services	99,999 SF	$9.99	Jan 0000
Pocket Billiards	Services	99,999 SF	$9.99	Jan 0000
Sunset Finance of Augusta	Services	99,999 SF	$9.99	Jan 0000