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    8500 Dr M L King Jr Ave Covington, GA 30014

    Sponsored
    For Sale
    $3,677,000

    Georgia Retail Property: Strong ROI

    Property size:
    15,000 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional investment opportunity presents a 15,000-square-foot, free-standing Harbor Freight Tools store in Covington, Georgia. The property sits on a 3.86-acre lot and boasts a strong 6.65% cap rate, generating a substantial net operating income (NOI) of $244,500. Secured by a corporate guarantee, the 10-year net lease (NN+) commenced April 10, 2024, and includes five 5-year renewal options with scheduled 10% rental increases. Built in 2024, this high-visibility location enjoys exceptional accessibility at the signalized intersection of State Route 36 and U.S. Route 278, experiencing a combined 56,000 AADT. Its proximity to Interstate 20, Covington Town Center (a major mixed-use development), and Piedmont Newton Hospital ensures high traffic and a large customer base. The thriving area boasts a strong average household income of $98,908 within a 15-mile radius and a population of 273,956 within the same area, promising continued growth. This prime location offers a gateway to Downtown Atlanta and its extensive metro area, making this a compelling investment with significant long-term potential. The asking price is $3,677,000.

    Property Features for 8500 Dr M L King Jr Ave

    General Information

    Property type
    Individual retail properties
    Square Feet
    15,000 SF
    Lot Size
    168,142 SF

    Building Details

    Year Built
    2024

    HighLights

    • High‑visibility corner lot at the signalized intersection of SR 36 and US 278 (56,000 AADT).
    • Surrounded by mission‑critical industrial users.
    • Trophy location near I‑20 (80,000 AADT), offering excellent commuter access.
    • Two miles from Covington Town Center, a new 180‑acre mixed‑use development with retail, residential, and medical components.
    • Covington Town Center projected to draw 34,000 daily visitors.
    • One mile from Piedmont Newton Hospital (739 employees).
    Property Profile Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Covington
    County
    Newton
    State
    Georgia
    Longitude
    -83.834425
    Latitude
    33.5968639

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    FAQs

    What type of property is this?
    Individual retail property - Georgia Retail Property: Strong ROI
    Where is this individual retail property located?
    The property is located at 8500 Dr M L King Jr Ave Covington, GA.
    What is the asking price?
    The asking price for this property is $3,677,000.
    What are key features of this property?
    This property features: High-visibility corner lot at the signalized intersection of SR 36 and US 278 (56,000 AADT).; Surrounded by mission-critical industrial users.; Trophy location near I-20 (80,000 AADT), offering excellent commuter access.
    Request Owner's contact information
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    8500 Dr M L King Jr Ave Covington, GA 30014
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