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560 Thornton Road - The Pointe at Lithia Springs - The Pointe at Lithia Springs, Lithia Springs, GA

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560 Thornton Road - The Pointe at Lithia Springs - The Pointe at Lithia Springs

Between Applebees and Walgreens
Lithia Springs, GA 30122 - Villa Rica/W Outlying Ret Submarket

(393.4 KB)

Property Type:Retail Sub Type:- Status:Existing Year Built:2004
Building Size:44,023 SF Land Area:5.45 AC (237,402 SF)
For Sale Price:$3,600,000 Price/SF:$81.78
Cap Rate:7.89 %
Parking:Free Surface spaces are available; Ratio of 5.33/1,000 SF
Features:Dedicated Turn Lane, Hotel, Out Parcel, Pylon Sign, Signage



Sale Notes:
11.5 CAP UPON LEASE-UP. By signing one 3,600sf lease (former dental office in move-in condition), cap rate becomes a 9+ cap....Stable Tenancy, Below-Market Rents + Upside Potential in a highly-occupied submarket...Two story shopping center with uses that includes orthodontic, chiropractic, psychology, beauty school, staffing, financial services, and hair and nail salons. Most of the current tenants have been onsite for 4+ years. Rents are $3-6psf less than competing centers along Thornton Road. Immediate upside through lease-up of a 3,675sf bay now occupied by Children's Dental, as this tenant will be constructing its own building and not renewing its lease.

HIGHEST TRAFFIC COUNT INTERSECTION IN DOUGLAS COUNTY. Located on the going home side of Thornton Road @ Maxham Road: 72,000+ vpd, 15 miles due west of downtown Atlanta and two miles north of I-20. Fronted by Walgreens, Sonic, AT&T, Church's Chicken. Located directly across from Kroger, Wendy's, QT, and Applebee's. Other area uses include auto dealers and industrial parks. Similar quality shopping centers (excluding subject property) along Thornton Road exceeds 97% occupancy, has not dropped below 91% in prior 10 years.


CBRE
Craig Taylor
(404) 923-1454




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