Unanchored Retail Strip
For Sale
$8,285,000
5157 Jimmy Lee Smith Pkwy, Hiram, GA 30141
Fully occupied center with restaurant, fitness, beauty, wireless, and service-oriented tenants.
Property Size28,270 SF
Price / SF$293.07
Days on Market91
Property Features for 5157 Jimmy Lee Smith Pkwy
General Information
Standard status
Active
Size
28,270 SF
Property subtype
Shopping Strip
Occupancy
100%
Additional Details
Cap Rate
6.5%
Traffic Count
40,000 vehicles/day
Amenities
HIRAM SQUARE | ATLANTA MSA
DAILY NEEDS TENANT MIX | LEASING MOMENTUM
RENT GROWTH
HIGH-TRAFFIC RETAIL CORRIDOR | JIMME LEE SMITH PKWY (40K VPD)
GROWING ATLANTA SUBURB
Building Details
Building Size
28,270 SF
Year Built
2006
Tenancy
Multi
Listing Agency:
Atlanta Office
Listed By:
Eric Abbott · License #License(s): GA: 407938
(678) 808-2746
Source:
Marcusmillichap
Added: Jul 18
Changed: Sep 24
Last Checked: Oct 16 at 5:49AM
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 Atlanta Office
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Investment Insights
Based on property information with market context.
Hiram Square is a 28,270-square-foot unanchored retail strip center built in 2006. The property is fully occupied and includes a tenant mix spanning restaurants, fitness, beauty, wireless, and service businesses, with current occupants including American Deli, Green Tomato Buffet, and Shwarma King. Contractual rent increases apply to 70% of the center during initial terms and option periods.
The center is positioned along Jimmy Lee Smith Parkway in Hiram, Georgia, a primary retail corridor with reported traffic of 40K VPD. The surrounding area contains more than 2.1M SF of retail inventory, while the corridor records over 14M visits annually. National retailers in the broader trade area include Target, Walmart, Sam’s Club, Home Depot, Aldi, Kohl’s, Ross, Marshalls, Ulta, and Academy Sports.
The property serves a five-mile population of 92K with an average household income of $114K and is located 25 miles from Atlanta. Hiram Square’s reported visitation ranks it 9/333 among strip centers within a 30-mile radius.
The center is positioned along Jimmy Lee Smith Parkway in Hiram, Georgia, a primary retail corridor with reported traffic of 40K VPD. The surrounding area contains more than 2.1M SF of retail inventory, while the corridor records over 14M visits annually. National retailers in the broader trade area include Target, Walmart, Sam’s Club, Home Depot, Aldi, Kohl’s, Ross, Marshalls, Ulta, and Academy Sports.
The property serves a five-mile population of 92K with an average household income of $114K and is located 25 miles from Atlanta. Hiram Square’s reported visitation ranks it 9/333 among strip centers within a 30-mile radius.
Key Highlights
- 28,270 SF unanchored retail strip center built in 2006
- Fully occupied with restaurant, fitness, beauty, wireless, and service tenants
- 70% of the center includes contractual rent bumps in initial terms and options
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$397,628
Cap Rate
4.80%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$7,952,560
$8.0M
Cap Rate 7%
$5,680,400
$5.7M
Cap Rate 9%
$4,418,089
$4.4M
Market Conditions
NOI Build-Up for 28,270 SF
Gross rent
$620.8K $21.96/SF
− Vacancy
−$52.8K −$1.87/SF
EGI
$568.0K $20.09/SF
− OpEx
−$170.4K −$6.03/SF
NOI
$397.6K $14.07/SF
Area
Paulding 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 Rate 5%
$7,952,560
Cap Rate 7%
$5,680,400
Cap Rate 9%
$4,418,089
Alternative Uses
Best Use
Retail
$5.68M
$4.97M – $6.63M
NOI $397,628 @ 7.0% cap · market cap 4.80%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$7.94M
$6.95M – $9.26M
NOI $555,675 @ 7.0% cap · market cap 6.71%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Lease Details
40,000 VPD
Traffic count
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
595
Businesses Nearby
820k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Apparel 24%
Shops & Services 23%
Dining 19%
Superstores 14%
Target
Superstores
115,227 visits/mo
0.4 miles
Chick-fil-A
Dining
61,685 visits/mo
0.1 miles
Kohl's
Apparel
55,955 visits/mo
0.3 miles
Five Below
Shops & Services
48,202 visits/mo
0.5 miles
Marshalls
Apparel
47,161 visits/mo
0.4 miles
Demographics for 30141, GA
23,616
Population
9,151
Households
2.6
Avg Household Size
38
Median Age
32%
College-Educated
91%
High-School Grad
27.6 sq mi
ZIP Area
856
Density / Sq Mi
$84,724
Median Household Income
$47,704
Median Earnings
$1,706
Median Rent
$254,800
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in South region
Frequently Asked Questions
What type of property is this?
Strip mall - Fully occupied center with restaurant, fitness, beauty, wireless, and service-oriented tenants.
Where is this strip mall located?
The property is located at 5157 Jimmy Lee Smith Pkwy Hiram, GA.
What is the asking price?
The asking price for this property is $8,285,000.
What are key features of this property?
This property features: 28,270 SF unanchored retail strip center built in 2006; Fully occupied with restaurant, fitness, beauty, wireless, and service tenants; 70% of the center includes contractual rent bumps in initial terms and options
