2460 M.l.k. Jr Dr Atlanta, GA 30311
- Lifestyle centers
- 20,008 SF
Current Use by Public Records
- Lifestyle centers
Property Details for 2460 M.l.k. Jr Dr
- Year built
- 1967
- Property size
- 20,008 SF
- Property type
- Lifestyle centers
- Property subtype
- Power centers
Description
Gordon Plaza, a 20,008-square-foot shopping center in Atlanta, GA, presents a compelling investment opportunity. This Class B, multi-tenant property boasts 100% occupancy with 13 tenants, many of whom have operated there for over a decade, generating a strong NOI of $287,971 and an 8.23% cap rate. The property features 50 parking spaces and is situated on 1.54 acres at 2460 M.L.K. Jr Dr SW, offering high visibility with 25,640 vehicles passing daily. Its prime location provides convenient access to I-20 and I-285, and is directly across from the Hamilton E. Holmes MARTA station, benefiting from nearby new developments and a growing population. The property, built in 1967, has recently undergone improvements including repainting and parking lot resurfacing. The asking price is $3,500,000 ($174.93/sq ft), representing a net lease investment with a remaining lease term of 5 years. The property is located in a designated Qualified Opportunity Zone and benefits from significant nearby development, including a major Microsoft campus expansion. The area shows strong growth potential, with over 375,000 people within a 5-mile radius and an average household income of $61,344, projected to increase by 22.40% in the next five years. Additional income is generated from leased billboards. This is a rare opportunity to acquire a well-maintained, fully leased retail property in a rapidly developing area of Atlanta.
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
- Atlanta
- County
- Fulton
- State
- Georgia
- Longitude
- -84.4687
- Latitude
- 33.7516
