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2978 - 2980 Rainbow Drive, Decatur, GA

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2978 - 2980 Rainbow Drive

Decatur, GA 30034 - SE Atlanta Ret Submarket


Property Type:Retail Sub Type:Auto Repair Status:Existing Year Built:1979
Building Size:5,300 SF Land Area:.8 AC (34,848 SF)
For Sale Price:$479,000 Price/SF:$90.38
Cap Rate:9.00 %
Parking:27 Surface spaces are available; Ratio of 3.6/1,000 SF
Features:Pylon Sign, Signage


This highly visible location is just minutes east of the I-20 and I-285 intersection in Decatur. It is situated in front of a major Kroger Shopping Center and is neighbored by South Dekalb Mall and Big Lots Super Center. Other national retailers in the area include Burger King, Dairy Queen, Subway, CVS Pharmacy, Citgo, Shell, Chevron and more. This property is a wise purchase for an investor requiring a strong return and good tenants in a growing area.

Sale Notes:
This 100% leased 3 tenant retail investment is on Rainbow Drive in south Dekalb County. The property benefits from a location in a heavily retailed area: the South Dekalb Mall anchored by Macy' s is located at Rainbow Drive and Candler Road. Other national retailers are Big Lots, CVS Pharmacy and Dollar Tree with fast food chains including Burger King, Dunkin Donuts, Dairy Queen, Subway and Checkers. Supporting this retail is a 3 mile population of 77,000+ with an average household income of $49,000+.

Under each lease the tenant pays rent and the landlord pays operating expenses. All utilities are paid by tenants. Over 60% of the building' s roof has been replaced and all HVAC systems have been replaced.

The location on Rainbow Drive is near the I-20 exit at Candler Road. Candler Road recently completed over three miles of new street, landscape, sidewalk and traffic light intersection upgrades.


SVN
Matthew J Levin
(770) 209-1700 x3




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