4615 Stone Mountain Hwy - Freestanding FOR SALE


Lilburn, GA 30047
$1,025,000 USD
404-272-3880
4615 Stone Mountain Hwy, Lilburn, GA for Sale
$1,025,000 USD
Freestanding - FOR SALE
1/19
null | 7.35% Cap Rate

4615 Stone Mountain Hwy
Lilburn, GA 30047


HIGHLIGHTS

  • Unmatched High Visibility
  • Multi-Tenant Retail Center- 7.35% CAP RATE
  • Irreplaceable Landmark Location
  • Value Add Potential

OVERVIEW

One-of-a-kind Lucerne Lake-front freestanding +/- 4,456/sf retail building with three suites including long-term tenants, Alcove Coffee-Cafe, Gwinnett Music School space and a private office, leased by Alcove. Directly on a 40-acre private lake, on one of the busiest streets in Metro-Atlanta with 72,600 cars per day, between booming Snellville(3 miles) and Atlanta(12 miles), this unmatched, high visibility property is a destination, impulse stop site and local treasure. The building, formerly a house built in 1938, has been renovated several times as needed throughout the years and has been upgraded to a C-2 zoned property. The Owner acquired the property in 1996 and renovated the 1st floor to be a Music School; including a reception area, 9 offices, 2 restrooms (with plumbing for another.) Renovated for Starbucks in 2000. The rear part of the building was remodeled as a separate full suite overlooking the lake, with kitchen, full restroom, and separate entrance(part of the music school's space currently.) Starbucks renovated the coffee shop in 2001 prior to moving in, and minimal renovations were done in 2010 before Alcove Coffee Cafe moved in. Cap Rate increases to 7.35% on 7/1/2025 and Value-Add potential here, including: Opportunity to increase the Coffee space rent at lease renewal, add back the restroom for the single office suite, bring a new Café tenant open evenings with “Happy Hour,” serving beer, wine, appetizers/charcueterie and evening desserts and coffee, or a Owner/Coffee/cafe Operator opening and taking full advantage of the exposure, extended hours, Beer & Wine and gorgeous sunsets/wildlife.

FOR SALE DETAILS

PRICE

$1,025,000 USD

PRICE/SF

$230 USD /SF

CAP RATE

7.35%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Lake Lucerne Waterfront Retail Center

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

ADD'L SUBTYPES

Storefront Retail/Residential, Office/Residential

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1938

SPRINKLERS

-

PARKING SPACES

35

LAND DETAILS

LAND ACRES

2.07 AC

LAND SF

90,169 SF

ZONING

C2, Gwinnett County

APN/PARCEL ID

6-063B-212

ASK ABOUT THIS PROPERTY

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404-272-3880

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Roxanne HazenPHP CommercialMore Info
404-272-3880

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