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    Tanger Blvd & Hwy 42 Locust Grove, GA

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    For Lease
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    Retail and restaurant space for lease near Tanger Outlets.

    Type:LAND
    Lot size:
    1.00 Acre
    Added:
    Oct 13, 2023
    Days on Market:
    926
    Last Refresh:
    Apr 5 at 10:57 pm

    Property Features for Tanger Blvd & Hwy 42

    General Information

    Standard status
    Active
    Lot size
    1.00 Acre
    Property subtype
    LAND

    Spaces For Lease

    at Tanger Blvd & Hwy 42 Contact us

    We can help!

    Listing Contact
    Kim Dart

    Listing agent Kim Dart

    Listing office Dart Retail Advisors

    Listing date Oct 13, 2023

    Source Moodyscre

    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 Dart Retail Advisors

    Overview

    Locust Grove Retail Opportunity

    This commercial land is located at the intersection of Tanger Boulevard and Highway 42 in Locust Grove, Georgia. It is part of a new Publix-anchored shopping center scheduled for delivery in Q4 2025. Available for lease are outparcel, restaurant, and retail spaces. A newly approved traffic light will be installed at the intersection of GA 42 and Tanger Boulevard, which sees 12,900 vehicles per day. The property is located minutes from City Hall and downtown Locust Grove, and 2.5 miles from the Tanger Outlets Locust Grove, one of three Tanger Centers in Georgia, which attracts over 4 million visitors annually. Locust Grove is situated midway between Atlanta and Macon along Interstate 75, less than 30 miles from Hartsfield-Jackson International Airport. Henry County, where the property is located, is the second-fastest-growing county in Metro Atlanta. Signage options are available.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Map

    City
    Locust Grove
    County
    Henry
    State
    Georgia
    Longitude
    -84.1091
    Latitude
    33.346

    Nearby Similar for Lease

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      New Class A Warehouses Available

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      Retail Spaces and Commercial Land

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      Locust Grove Retail Opportunity

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      Retail Space Near Tanger Outlets

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      New Publix-Anchored Shopping Center Space

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    FAQs

    What type of property is this?
    Commercial land - Retail and restaurant space for lease near Tanger Outlets.
    Where is this commercial land located?
    The property is located at Tanger Blvd & Hwy 42 Locust Grove, GA.
    What are key features of this property?
    This property features: New Publix‑anchored shopping center delivering Q4 2025.; Located 2.5 miles from Tanger Outlets Locust Grove (4 million annual visitors).; New traffic light approved for GA 42 and Tanger Blvd intersection (12,900 VPD).
    (770) 356-1976 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Kim Dart
    Learn More
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    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
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