Community Shopping Center Anchored by Planet
For Sale
Contact for pricing
Pending
6150 Covington Hwy, Lithonia, GA 30058
Anchored community shopping center with Planet Fitness and Rainbow Shops, located at a signalized intersection.
Property Size144,585 SF
Lot Size21.00 Acres
Days on Market142
Property Features for 6150 Covington Hwy
General Information
Standard status
Pending
Size
144,585 SF
Lot size
21.00 Acres
Property subtype
Retail
Occupancy
85%
Site & Location
Traffic Count
62,000 vehicles/day
Highway Access
Yes
Additional Details
Cap Rate
7.75%
Building Details
Year Built
1989
Year Renovated
2021
Tenancy
Multi
Listing Agency:
CBRE - Atlanta
Listed By:
Craig Taylor · License #GA 172747
Source:
Crexi
Added: Apr 11
Changed: Aug 23
Last Checked: Aug 29 at 4:00PM
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 CBRE - Atlanta
Investment Insights
Based on property information with market context.
Covington Square is an 85% occupied, 144,585-square-foot community shopping center developed in 1989 and renovated in 2021 on 21 acres in Lithonia, Georgia. The tenant mix is anchored by a newly opened Planet Fitness, with additional notable tenants including Rainbow Shops, City Gear (Hibbett), Beauty and More, Las Colinas Restaurant, and 3D Church in a former cinema space. The center includes a vacant 21,150-square-foot bay adjacent to Planet Fitness, which is expected to increase In-Place NOI by approximately $250,000 upon lease-up.
Located at the signalized intersection of Covington Hwy (US 278) and Panola Road, the property is directly across from newly constructed LIDL Grocery and LA Fitness. Covington Square is about 1.5 miles north of I-20 and roughly 3 miles east of I-285.
The shopping center serves an estimated 81,000+ residents with $64,000+ average household income and 43,000+ daytime employment within a 3-mile trade area. Tenant retention is supported by the fact that 80% of tenants have been on-site for 5+ years, providing stability for an owner-operator or investor considering a for-sale acquisition.
Located at the signalized intersection of Covington Hwy (US 278) and Panola Road, the property is directly across from newly constructed LIDL Grocery and LA Fitness. Covington Square is about 1.5 miles north of I-20 and roughly 3 miles east of I-285.
The shopping center serves an estimated 81,000+ residents with $64,000+ average household income and 43,000+ daytime employment within a 3-mile trade area. Tenant retention is supported by the fact that 80% of tenants have been on-site for 5+ years, providing stability for an owner-operator or investor considering a for-sale acquisition.
Key Highlights
- 144,585 SF community shopping center (developed 1989) on 21 acres in Lithonia, GA
- Currently 85% occupied; 80% of tenants have been on‑site for 5+ years
- Anchored by newly opened Planet Fitness plus Rainbow Shops, City Gear (Hibbett), Beauty and More, Las Colinas Restaurant, and 3D Church
Property Analytics
Current Use
Lease Details
62,000 VPD
Traffic count
85%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
498
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 30058, GA
59,445
Population
23,671
Households
2.5
Avg Household Size
36
Median Age
30%
College-Educated
90%
High-School Grad
30.5 sq mi
ZIP Area
1,949
Density / Sq Mi
$62,633
Median Household Income
$36,992
Median Earnings
$1,478
Median Rent
$221,200
Median Home Value
Market
Vacancy Rate% for Retail in South region
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Similar Off Market Nearby
- Covington Square — 6150b Covington Hwy, Lithonia, GA 30058
Frequently Asked Questions
What type of property is this?
Shopping center - Anchored community shopping center with Planet Fitness and Rainbow Shops, located at a signalized intersection.
Where is this shopping center located?
The property is located at 6150 Covington Hwy Lithonia, GA.
What are key features of this property?
This property features: 144,585 SF community shopping center (developed 1989) on 21 acres in Lithonia, GA; Currently 85% occupied; 80% of tenants have been on‑site for 5+ years; Anchored by newly opened Planet Fitness plus Rainbow Shops, City Gear (Hibbett), Beauty and More, Las Colinas Restaurant, and 3D Church
