845 Flat Shoals Ave Atlanta, GA 30316
- Lifestyle centers
- 2,615 SF
- 0.21 lot acres
Current Use by Public Records
- Mercer Street Meals / Mobile Caterer
Property Details for 845 Flat Shoals Ave
- Year built
- 1920
- Lot size
- 0.21 lot acres
- Property size
- 2,615 SF
- Property type
- Lifestyle centers
- Property subtype
- Power centers
Description
This exceptional 2,615 square foot retail property, located at 845 Flat Shoals Ave SE in Atlanta, Georgia, presents a compelling investment opportunity. The completely renovated building, originally constructed in 1920 and extensively updated in 2022, boasts a new TPO roof, insulated storefront, and modernized mechanical, electrical, and plumbing (MEP) systems. Currently operating at 100% occupancy with two tenants, this multi-tenant property offers a strong net operating income (NOI) of $83,700, translating to a 6.00% capitalization rate. The property features nine parking spaces and sits on a 0.213-acre lot zoned C-1. Lease terms are NNN, with a remaining lease term of approximately 2.4 years until March 31, 2027. Rent bumps of 3% and 5% are built into the leases. One tenant, Mercer Street Meals, is currently open and operating. The second tenant, The Brunch at East Atlanta, is under construction, with a projected opening in Summer 2024. This prime location in East Atlanta benefits from a rising income demographic, making it an attractive investment for discerning buyers. The asking price is $1,395,000, representing a price per square foot of $533.46. The property consists of one single-story building.
Value Estimation
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Atlanta
- County
- DeKalb
- State
- Georgia
- Longitude
- -84.3368
- Latitude
- 33.731
