1050 Richard D. Sailors Pky - Freestanding FOR SALE


Powder Springs, GA 30127
$4,400,000 USD
404-832-1251
1050 Richard D. Sailors Pky, Powder Springs, GA for Sale
$4,400,000 USD
Freestanding - FOR SALE
1/6
null | 6.47% Cap Rate

1050 Richard D. Sailors Pky
Powder Springs, GA 30127


HIGHLIGHTS

  • Excellent Visibility on Richard D Sailors Pkwy: 31,000 VPD
  • Significant Mark to Market Opportunity for Expiring Leases: 4.81% 10 Year CAGR
  • Densely Populated Suburb: 119,000+ residents within 5 mile radius
  • Replaceable Rents: $20.42 average rent per square foot across the rent roll
  • Affluent Bedroom Community to Atlanta: $134,000+ household incomes

OVERVIEW

Franklin Street is pleased to present Powder Springs Center in Powder Springs, Georgia. Powder Springs is a northwest suburb in the Atlanta MSA, 20 miles from the core of Atlanta. The Atlanta MSA has grown to the 6th largest in the country with over 6.5 million residents and growing. The center is 15,050 SF and offers the upside of a 1,400 SF vacant unit. The center sits on an outparcel to Home Depot and Extra Space Storage, and adjacent to a Publix anchored shopping center all driving traffic to this location. The newer leases on the rent roll have all been executed at a $5-7 PSF premium to the historical tenants that have been in the center 5+ years, offering significant mark to market opportunities for a new investor as leases roll over. The tenancy is a mixture of service based tenants include medical, hair, nail, spa, and tutoring bringing constant traffic to the center. The Powder Springs submarket is made up of customers with strong household incomes ($134k) and household net worth ($1.3M), allowing for disposable incomes for the retailers.

FOR SALE DETAILS

PRICE

$4,400,000 USD

PRICE/SF

$292 USD /SF

CAP RATE

6.47%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Powder Springs Center - Home Depot Outparcel

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2008

SPRINKLERS

-

PARKING SPACES

94

LAND DETAILS

LAND ACRES

1.65 AC

LAND SF

71,874 SF

ZONING

CRC

APN/PARCEL ID

19-0829-0-001-0

ASK ABOUT THIS PROPERTY

Bryan BelkFranklin StreetMore Info
404-832-1251

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Bryan BelkFranklin StreetMore Info
404-832-1251

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