5561 Memorial Dr Stone Mountain, GA 30083-3237

Property Details for 5561 Memorial Dr

Year built

1975

Lot size

12.80 lot acres

Property size

58,513 SF

Zone code

C1

Property type

Community centers

APN

18 070 03 008

APU

1807003008

Description

Village Square, a 117,094 square foot shopping center in Stone Mountain, GA, is available for sale at $5,500,000 ($46.97/sq ft). This fee simple property, situated on 13.172 acres, features three buildings with two stories, built in 1978 and renovated in 1988 and 2014. Currently boasting 46.1% occupancy with a Net Operating Income (NOI) of $148,968, this value-add opportunity presents significant upside potential through lease-up of vacant spaces and potential out-parcel development. The property includes 23 units, is zoned commercial, and benefits from a high-traffic location on Memorial Drive (64,000+ cars daily), offering excellent visibility and accessibility. The existing leases are NNN, with a single tenant and expiration date of February 28, 2026 (1.3 years remaining). The property is being offered for a quick sale at a significant discount to replacement cost and is not subject to financing contingencies. The sale is a direct sale by the owner, and the buyer is responsible for any necessary zoning approvals for redevelopment. Located 15 miles east of Atlanta, this property offers investors and developers a unique chance to capitalize on the area's growth potential. The property's location across from a Chick-fil-A and its easy ingress/egress from Memorial Drive and Village Square Drive further enhance its appeal. Two lease options are available.

Location Insight

City

Stone Mountain

County

Dekalb

State

Georgia

Longitude

-84.2107

Latitude

33.7994

CBSA code

12060

CBSA name

ATLANTA-SANDY SPRINGS-MARIETTA, GA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments