Current Use by Public Records
- Lifestyle centers
Property Details for 6459 Ga-42
- Year built
- 1990
- Lot size
- 9.20 lot acres
- Property type
- Lifestyle centers
- Property subtype
- Power centers
Description
Creekwood Village Shopping Center, a 69,778-square-foot, single-story retail center in Rex, Georgia (Atlanta MSA), presents a compelling value-add opportunity. This 100% occupied, 15-tenant property boasts a strong anchor tenant, Food Depot, a regional grocer with a long-term lease (extending to May 2030 with two 5-year options) and a significant presence (46,328 sq ft). The diverse tenant mix includes e-commerce resistant businesses like Metro PCS, Beauty Town, and Urban Pub & Grill. Situated on a 9.2-acre lot at a high-traffic intersection (Macon Hwy and Dale Rd, with 29,390 vehicles per day and I-675 proximity boasting 74,100 VPD), the center offers excellent visibility and accessibility. The property features 409 parking spaces and three points of ingress/egress. With a Class B rating, NNN lease type, and corporate guarantees on over 50% of the income, this investment offers a stable cash flow. The asking price is $9,345,200 ($133.93/sq ft), representing a 7.75% cap rate and a $724,253 NOI. Strong demographics (141,490 people within a 5-mile radius, average household income exceeding $80,000) further enhance the investment potential. Value-add potential includes raising below-market rents, developing an existing inline pad, and potentially creating a new outparcel. Built in 1990, the property is zoned C. This is a stabilized asset in a growing trade area with significant upside potential.
Value Estimations
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Rex
- County
- Clayton
- State
- Georgia
- Longitude
- -84.2809
- Latitude
- 33.576
