Freestanding Two-Tenant Retail
For Sale
Contact for pricing
Pending
1889 Jonesboro Road, McDonough, GA 30253
Newly constructed 2024 building with two suites leased on new 10-year NNN terms to That Burger Spot and HOTWORX.
Property Size4,000 SF
Lot Size1.39 Acres
Days on Market53
Property Features for 1889 Jonesboro Road
General Information
Standard status
Pending
Size
4,000 SF
Lot size
1.39 Acres
Property subtype
Retail
Occupancy
100%
Lease Type
NNN
Net Operating Income
$119,250
Additional Details
Highway Access
Yes
Building Details
Year Built
2024
Tenancy
Multi
Construction
concrete block and steel-frame
Listing Agency:
Marcus & Millichap - Atlanta
Listed By:
Marc Irvin · License #GA: 348971
Source:
Crexi
Added: Jul 21
Changed: Sep 6
Last Checked: Sep 10 at 7:41AM
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 Marcus & Millichap - Atlanta
Investment Insights
Based on property information with market context.
Newly constructed in 2024, this freestanding retail property is a two-tenant building totaling 4,000 SF on 1.39 acres. The concrete block and steel-frame construction includes an accent brick veneer. The space is offered under new 10-year NNN leases to That Burger Spot and HOTWORX, with $1.00/SF annual rent increases, tenant-funded interior buildouts, and multiple personal guarantees. The units are subdividable, supporting future flexibility.
The property is located within Henry Marketplace, a 200,000+ SF collection of freestanding and inline retail. It is adjacent to retailers including Floor & Decor, Dick’s Sporting Goods, Best Buy, and Sam’s Club, and is positioned across from Henry Town Center. The asset is reported to be one block west of I-75 and just south of Atlanta, with a reported 2.0% submarket vacancy rate per CoStar and strong population and employment growth based on the property’s marketing materials.
The property is located within Henry Marketplace, a 200,000+ SF collection of freestanding and inline retail. It is adjacent to retailers including Floor & Decor, Dick’s Sporting Goods, Best Buy, and Sam’s Club, and is positioned across from Henry Town Center. The asset is reported to be one block west of I-75 and just south of Atlanta, with a reported 2.0% submarket vacancy rate per CoStar and strong population and employment growth based on the property’s marketing materials.
Key Highlights
- 2024 freestanding retail building with 2,000 SF per suite (4,000 SF total) on 1.39 acres in Henry Marketplace
- Fully leased to That Burger Spot and HOTWORX under new 10‑year NNN leases with multiple personal guarantees
- NNN leases include $1.00/SF annual rent increases
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$56,262
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
2.96%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,125,240
$1.1M
Cap Rate 7%
$803,743
$803.7K
Cap Rate 9%
$625,133
$625.1K
Market Conditions
NOI Build-Up for 4,000 SF
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.
Gross rent
$87.8K $21.96/SF
− Vacancy
−$7.5K −$1.87/SF
EGI
$80.4K $20.09/SF
− OpEx
−$24.1K −$6.03/SF
NOI
$56.3K $14.07/SF
Area
Henry County, GA
Vacancy
8.50%
Lease Rate
$21.96 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,125,240
Cap Rate 7%
$803,743
Cap Rate 9%
$625,133
Alternative Uses
Best Use
Retail
$803.7K
$703.3K – $937.7K
NOI $56,262 @ 7.0% cap · market cap 2.96%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.12M
$978.4K – $1.30M
NOI $78,271 @ 7.0% cap · market cap 4.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
440
Businesses Nearby
211k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Apparel 60%
Shops & Services 32%
Home Improvements & Furnishings 3%
Electronics 3%
Ross Dress for Less
Apparel
46,314 visits/mo
0.4 miles
Michaels
Shops & Services
44,707 visits/mo
0.3 miles
Marshalls
Apparel
40,280 visits/mo
0.3 miles
PetSmart
Shops & Services
22,839 visits/mo
0.2 miles
Sierra
Apparel
18,606 visits/mo
0.4 miles
Demographics for 30253, GA
62,025
Population
22,889
Households
2.7
Avg Household Size
36
Median Age
30%
College-Educated
93%
High-School Grad
46.9 sq mi
ZIP Area
1,322
Density / Sq Mi
$81,601
Median Household Income
$43,433
Median Earnings
$1,627
Median Rent
$281,000
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- D.C.J. Flowers And Gift Shop — Located inside Peachtree Peddle, 155 Mill Rd, McDonough, GA 30253
- Sam's Club Floral — 1765 Jonesboro Rd, McDonough, GA 30253
Frequently Asked Questions
What type of property is this?
Storefront property - Newly constructed 2024 building with two suites leased on new 10-year NNN terms to That Burger Spot and HOTWORX.
Where is this storefront property located?
The property is located at 1889 Jonesboro Road McDonough, GA.
What is the asking price?
The asking price for this property is $1,900,000.
What are key features of this property?
This property features: 2024 freestanding retail building with 2,000 SF per suite (4,000 SF total) on 1.39 acres in Henry Marketplace; Fully leased to That Burger Spot and HOTWORX under new 10‑year NNN leases with multiple personal guarantees; NNN leases include $1.00/SF annual rent increases
