Strip Mall with On-Site
For Sale
Contact for pricing
7173 Covington Hwy, Lithonia, GA 30058
A 100% occupied mini mall with 16 stores, three booths, and on-site parking on Covington Highway.
Property Size20,000 SF
Price / SF$165
Days on Market601
Property Features for 7173 Covington Hwy
General Information
Standard status
Active
Size
20,000 SF
Total Parking Spaces
160
Property subtype
RETAIL
Occupancy
100%
Amenities
large signage
Building Details
Tenancy
Multi
Listing Agency:
Sands Investment Group (SIG) - Corporate
(404) 207-1171
Listed By:
Andrew Ackerman · License #391027
(770) 626-0445
Source:
Moodyscre
Added: Dec 6, 2024
Changed: Jul 30
Last Checked: Jul 30 at 4:18AM
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 Sands Investment Group (SIG) - Corporate
Investment Insights
Based on property information with market context.
This strip mall mini mall offers 20,000 SF of industrial flex space configured for retail tenants, with 16 stores and three booths. The property is 100% occupied with well established tenants and includes 160 parking spaces for customer convenience.
Located at 7173 Covington Hwy in Lithonia, Georgia, the mini mall sits between Donna Lisa Dr and Lithonia Industrial Blvd, right on Covington Highway. The site is positioned for strong visibility, with large signage intended to ensure the property and tenants are readily seen from multiple directions.
With a tenant mix designed around multiple store and booth spaces and parking capacity on site, the property is built to support day-to-day retail traffic and tenant operations along a high-visibility corridor.
Located at 7173 Covington Hwy in Lithonia, Georgia, the mini mall sits between Donna Lisa Dr and Lithonia Industrial Blvd, right on Covington Highway. The site is positioned for strong visibility, with large signage intended to ensure the property and tenants are readily seen from multiple directions.
With a tenant mix designed around multiple store and booth spaces and parking capacity on site, the property is built to support day-to-day retail traffic and tenant operations along a high-visibility corridor.
Key Highlights
- 20,000 SF mini mall with 16 stores and 3 booths
- 100% occupied with well established tenants
- 160 parking spaces on site
Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $439.2k | $21.96 |
| − Vacancy | −$37.3k | −$1.87 |
| EGI | $401.9k | $20.09 |
| − OpEx | −$120.6k | −$6.03 |
| NOI | $281.3k | $14.07 |
20,000 SF · lease $21.96/SF/yr · vacancy 8.50% · expense 30.00%
Alternative Uses
Best Use
Retail
$4.02M
$3.52M – $4.69M
NOI $281,308 @ 7.0% cap · market cap 8.52%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.59M
$4.89M – $6.52M
NOI $391,354 @ 7.0% cap · market cap 11.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
747
Businesses Nearby
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Strip mall - A 100% occupied mini mall with 16 stores, three booths, and on-site parking on Covington Highway.
Where is this strip mall located?
The property is located at 7173 Covington Hwy Lithonia, GA.
What is the asking price?
The asking price for this property is $3,300,000.
What are key features of this property?
This property features: 20,000 SF mini mall with 16 stores and 3 booths; 100% occupied with well established tenants; 160 parking spaces on site
