2860 East-West Connector SW - Retail FOR SALE


Austell, GA 30106
$5,450,000 USD
404-832-1251
2860 East-West Connector SW, Austell, GA for Sale
$5,450,000 USD
Retail - FOR SALE
1/6
null | 6% Cap Rate

2860 East-West Connector SW
Austell, GA 30106


HIGHLIGHTS

  • 79% Occupied: 3 bays for lease up opportunity that caters to a variety of uses
  • Outstanding NOI Growth Opportunity: 6.29% 10 Year CAGR & 10.16% 5 Year CAGR
  • Stable Tenant History: 6 out of 9 tenants have been in their spaces for 10+ years
  • Mark to Market Opportunity For Many Expiring Leases With No Options
  • Excellent Visibility on the East West Connector: 39,000 VPD
  • Densely Populated Suburb: 172,000+ residents within 15 minutes of the property

OVERVIEW

Franklin Street is pleased to present Austell Promenade, a convenience retail strip in Austell, Georgia. Austell is a northwest suburb of Atlanta in Cobb County, the third most populous county in the state. The Atlanta MSA is the 6th largest in the country and home to 16 headquarters of Fortune 500 companies, while serving as the largest business hub of the South. Austell Promenade sits on the heavily trafficked East West Connector that connects residents from dense residential communities into the major business hubs of Atlanta. The site includes a 16,590 SF strip center and a 1,750 SF freestanding drive thru building. The freestanding QSR building is occupied by Firehouse Subs, at a significantly below market rent, providing valuable upside should they ever leave or when their options expire. There are 3 units to lease as upside including a 1,400 SF bay and two 1,190 SF units. The center sits in front of a recently re-tenanted shopping center anchored by Rural King & Slick City Action Park driving additional traffic to the property. The corridor is home to nearly every national big box retailers within 2 miles of the property. The property has been well maintained while being institutionally owned for the last decade.

FOR SALE DETAILS

PRICE

$5,450,000 USD

PRICE/SF

$296 USD /SF

CAP RATE

6%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Austell Promenade

PROPERTY TYPE

Retail

ADD'L SUBTYPES

Convenience Store, Restaurant, Storefront

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2007

SPRINKLERS

-

PARKING SPACES

116

LAND DETAILS

LAND ACRES

1.41 AC

LAND SF

61,314 SF

ZONING

CRC/WS

APN/PARCEL ID

19-0788-0-010-0,19-0788-0-011-0

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.