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.