Brick Shopping Center with
New
For Sale
$2,000,000
3737 Main Street, College Park, GA 30337
Commercial Sale, College Park, GA
Property Size6,580 SF
Lot Size0.09 Acres
Price / SF$303.95
Days on Market7
Property Features for 3737 Main Street
General Information
Property type
Commercial Sale
Property subtype
Other
Parking features
Parking Lot
Lot features
City Lot, Corner Lot, Near Public Transit
Directions
GPS
Standard status
Active
APN
14 016100060901
Size
6,580 SF
Lot size
0.09 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
10600
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
1920
Flooring type
Concrete
Building materials
Brick
Roof type
Composition
Listing Agency:
IBM Realty of Georgia, Inc.
(770) 469-1501
Listed By:
Byron Riggins
(770) 598-4984
Added: Aug 27
Changed: Sep 1
Last Checked: Sep 2 at 12:06PM
MLS# 10836385
Copyright © 2026 Georgia Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 6,580-square-foot brick shopping center, built in 1920, contains 15 leasable spaces serving a mix of restaurant, retail, salon suite, and boutique occupants. The property includes a 3,000-square-foot upper-level loft with a full kitchen and bathroom, along with seven restrooms throughout the building. Concrete flooring, central heating, central air, a composition roof, and a paved parking lot are part of the existing improvements.
Fourteen of the 15 spaces are leased. Building upgrades include new HVAC units throughout and new plumbing. Public water and public sewer serve the property, with cable available. The asset is located at 3737 Main Street in College Park, within a downtown retail setting surrounded by shops, eateries, cafes, and other pedestrian-oriented businesses.
Fourteen of the 15 spaces are leased. Building upgrades include new HVAC units throughout and new plumbing. Public water and public sewer serve the property, with cable available. The asset is located at 3737 Main Street in College Park, within a downtown retail setting surrounded by shops, eateries, cafes, and other pedestrian-oriented businesses.
Key Highlights
- 6,580‑square‑foot brick shopping center built in 1920
- 15 leasable spaces with 14 of 15 leased
- 3,000‑square‑foot upper‑level loft with full kitchen and bathroom
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
$84,456
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
4.22%
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%
$1,689,120
$1.7M
Cap Rate 7%
$1,206,514
$1.2M
Cap Rate 9%
$938,400
$938.4K
Market Conditions
NOI Build-Up for 6,580 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
$126.3K $19.20/SF
− Vacancy
−$5.7K −$0.86/SF
EGI
$120.7K $18.34/SF
− OpEx
−$36.2K −$5.50/SF
NOI
$84.5K $12.84/SF
Area
Fulton County, GA
Vacancy
4.50%
Lease Rate
$19.20 /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%
$1,689,120
Cap Rate 7%
$1,206,514
Cap Rate 9%
$938,400
Alternative Uses
Best Use
Retail
$1.21M
$1.06M – $1.41M
NOI $84,456 @ 7.0% cap · market cap 4.22%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.84M
$1.61M – $2.15M
NOI $128,755 @ 7.0% cap · market cap 6.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
93.3%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
804
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 30337, GA
11,810
Population
5,702
Households
2.1
Avg Household Size
38
Median Age
31%
College-Educated
92%
High-School Grad
12.2 sq mi
ZIP Area
968
Density / Sq Mi
$49,472
Median Household Income
$32,272
Median Earnings
$1,109
Median Rent
$311,900
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Similar Off Market Nearby
- Virginia Station Shopping Center — Adams St & Virginia Ave, College Park, GA 30337
Frequently Asked Questions
What type of property is this?
Shopping center - Multi-tenant retail property with renovated building systems, public utilities, and on-site paved parking.
Where is this shopping center located?
The property is located at 3737 Main Street College Park, GA.
What is the asking price?
The asking price for this property is $2,000,000.
What are key features of this property?
This property features: 6,580‑square‑foot brick shopping center built in 1920; 15 leasable spaces with 14 of 15 leased; 3,000‑square‑foot upper‑level loft with full kitchen and bathroom
