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    Highway 42 & Tanger Blvd Locust Grove, GA

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    For Lease
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    Retail and restaurant space for lease near Tanger Outlets.

    Type:RETAIL
    Property size:
    2,000 SF
    Lot size:
    14.21 Acres
    Added:
    Oct 13, 2023
    Days on Market:
    923
    Last Refresh:
    Apr 5 at 10:04 pm

    Property Features for Highway 42 & Tanger Blvd

    General Information

    Standard status
    Active
    Size
    2,000 SF
    Lot size
    14.21 Acres
    Property subtype
    RETAIL

    Spaces For Lease

    at Highway 42 & Tanger Blvd Contact us

    We can help!

    Listing Contact
    Kim Dart

    Listing agent Kim Dart

    Listing office Dart Retail Advisors

    Listing date Oct 13, 2023

    Source Moodyscre

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    All listing content including descriptions, pricing, images are the copyrighted material of Dart Retail Advisors

    Overview

    Retail Space Near Tanger Outlets

    This property features outparcel, restaurant, and retail space available for lease in a new Publix-anchored shopping center, slated for delivery in Q4 2025. Signage options are available. The location benefits from a recently approved new traffic light at the intersection of GA 42 and Tanger Blvd, which sees 12,900 vehicles per day. Situated minutes from City Hall and downtown Locust Grove, the property is also approximately 2.5 miles from the Tanger Outlets Locust Grove, a major draw with over 4 million annual visitors. Locust Grove, Georgia, is positioned midway between Atlanta and Macon along Interstate 75, and is less than 30 miles from Hartsfield-Jackson International Airport. Henry County, where the property is located, is recognized as the second-fastest-growing county in Metro Atlanta. The property offers approximately 2,000 square feet of retail space.
    Location Intelligence

    Current Use by Public Records

    Shopping centers

    Similar Places Nearby

    • Tanger Outlets — locust grove, ga 30248
    • Desire — 1000 Tanger Dr Suite 217A, Locust Grove, GA 30248
    • Locust Grove Village — 4920 Bill Gardner Pkwy, Locust Grove, GA 30248
    • Sunglass Hut — 1000 Tanger Dr Spc 620, Locust Grove, GA 30248
    • Coinstar Kiosk | Bitcoin ATM — Ingles Supermarkets, 4920 Bill Gardner Pkwy, Locust Grove, GA 30248

    Map

    City
    Locust Grove
    County
    Henry
    State
    Georgia
    Longitude
    -84.1091
    Latitude
    33.346

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    FAQs

    What type of property is this?
    Shopping center - Retail and restaurant space for lease near Tanger Outlets.
    Where is this shopping center located?
    The property is located at Highway 42 & Tanger Blvd Locust Grove, GA.
    What are key features of this property?
    This property features: New Publix‑anchored shopping center delivering Q4 2025.; Located 2.5 miles from Tanger Outlets Locust Grove, drawing 4 million annual visitors.; New traffic light approved for the intersection of GA 42 and Tanger Blvd (12,900 VPD).
    (770) 356-1976 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Kim Dart
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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