10373 Industrial Blvd NE - Freestanding FOR SALE


Covington, GA 30014
$3,745,000 USD
949-221-1807
10373 Industrial Blvd NE, Covington, GA for Sale
$3,745,000 USD
Freestanding - FOR SALE
1/21
null | 6.3% Cap Rate

10373 Industrial Blvd NE
Covington, GA 30014


HIGHLIGHTS

  • MATTRESS FIRM (NYSE: SGI) | 2,300+ LOCATIONS | NATIONAL BRAND
  • 100% LEASED 3 TENANT PAD BUILDING | PART OF THE DOMINANT TRADE CENTER IN AREA
  • STRONG CONSUMER DRAW FROM ADJACENT WALMART SUPERCENTER AND HOME DEPOT
  • KNOWN AS “HOLLYWOOD OF THE SOUTH” | HOME TO MAJOR ENTERTAINMENT STUDIOS
  • ORIGINAL TENANTS | RECENT LEASE RENEWALS | 10 YEAR HISTORICAL OCCUPANCY
  • TOP 6 AND 15 PERCENTILE STORE VISITS FOR WALMART AND HOME DEPOT RESPECTIVELY

OVERVIEW

BROKER OF RECORD.... NOVAK & ASSOCIATES, INC....License No. 6506 6.65% Cap in Sept 2028 | Annual Rent Increases in 2 of 3 leases | 3 Tenant Pad | All Original Tenants Having Recent Lease Renewals Faris Lee Investments is pleased to present the opportunity to acquire the fee simple interest (land & building) in a multi-tenant pad building in Covington, GA, a growing suburb 35 miles east of Atlanta. The offering is anchored by Mattress Firm (NYSE:SGI) (2,300+ locations in 49 states). All tenants are original, have occupied the property for 10 years, and have recently renewed their lease. The Property boasts minimal maintenance and expenses obligations with the tenants operating under NNN leases, providing an investor ease of management with the tenants being responsible for taxes, insurance and common area maintenance expenses. More than one-half of the leasable square footage contains annual rent increases while Mattress Firm has their next rent increase in February 2028. The offering is strategically positioned as an outparcel pad to a successful Walmart Supercenter which per Placer.ai ranks in the top 6 percentile for customer visits of all Walmart stores in Georgia. The drawing power of the Walmart Supercenter combined with visibility and convenient access to Interstate 20 enables the Property to out-position and outperform other multi-tenant properties in the under-supplied Covington retail market. As with most suburbs of Atlanta, Covington is anticipated to continue its strong population growth over the next 10 years. In addition to being home to Cinelease Studios, one of the largest film studios in the country, other major employers include General Mills, Bridgestone Golf, and Bard Medical. This offering checks all the major boxes for an investor by having long term historical occupancies and a stabilized income stream. The location is strategically positioned to benefit from cross over shopping opportunities created by the adjacent top tier performing Walmart Supercenter while the growing population base will continue to support the tenants and help create appreciating real estate values in the immediate area.

FOR SALE DETAILS

PRICE

$3,745,000 USD

PRICE/SF

$441 USD /SF

CAP RATE

6.3%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Covington Pad to Walmart SuperCenter

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

ADD'L SUBTYPES

Fast Food, Storefront, Storefront Retail/Office

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2014

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.92 AC

LAND SF

40,075 SF

ZONING

-

APN/PARCEL ID

C081000000088000

ASK ABOUT THIS PROPERTY

Shaun RileyFaris Lee InvestmentsMore Info
949-221-1807

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Shaun RileyFaris Lee InvestmentsMore Info
949-221-1807

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.