2418 Devonian Dr Villa Rica, GA 30180
- Lifestyle centers
- 18,014 SF
- 1.88 lot acres
Current Use by Public Records
- Lifestyle centers
Property Details for 2418 Devonian Dr
- Year built
- 2006
- Lot size
- 1.88 lot acres
- Property size
- 18,014 SF
- Property type
- Lifestyle centers
- Property subtype
- Power centers
Description
This exceptional 18,014-square-foot retail center in Villa Rica, Georgia, presents a compelling investment opportunity. The property boasts a 100% occupancy rate, anchored by a Dollar General store since 2005, and complemented by two additional tenants, all operating under triple-net (NNN) leases. Built in 2006, this shopping center sits on a 1.88-acre lot and benefits from built-in rent bumps. The property generates a strong net operating income (NOI) of $181,080, resulting in an attractive 8.00% capitalization rate. Priced at $2,263,500 ($125.65/sq ft), this investment offers ease of management and significant upside potential. Its prime location on Devonian Drive provides easy access via Interstate-20, experiencing a high daily traffic volume of 78,000 vehicles. The center is strategically situated within the thriving Mirror Lake community, a rapidly growing area with over 1,300 homes and a substantial population base of 38,000+ within a 5-mile radius. The property's proximity to Atlanta (approximately 30 minutes) further enhances its appeal. Nearby established businesses include Publix, Wendy's, McDonald's, Taco Bell, Dunkin', and Wells Fargo, creating a strong retail synergy. This is a rare opportunity to acquire a well-performing, stable retail investment in a high-growth market.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Villa Rica
- County
- Douglas
- State
- Georgia
- Longitude
- -84.8944
- Latitude
- 33.7319
