2457 M.l.k. Jr Dr Atlanta, GA 30311
- Lifestyle centers
- 15,600 SF
- 2.00 lot acres
Current Use by Public Records
- Lifestyle centers
Property Details for 2457 M.l.k. Jr Dr
- Year built
- 2005
- Lot size
- 2.00 lot acres
- Property size
- 15,600 SF
- Property type
- Lifestyle centers
- Property subtype
- Power centers
Description
Holmes Plaza, a 15,600-square-foot shopping center in Atlanta, Georgia, presents a compelling investment opportunity. This fully occupied, single-story building, constructed in 2005, boasts seven retail suites and a substantial 76-space parking lot (4.87 spaces per 1,000 square feet). The property sits on a two-acre lot, zoned C3, and enjoys a prime location at 2457 M.L.K. Jr Dr SW, Atlanta, GA 30311, in Fulton County. Its strategic position offers high visibility and easy access, benefiting from a daily traffic count of 31,000 vehicles and proximity to the I-20/Holmes Drive interchange, just six miles west of downtown Atlanta. Furthermore, the Hamilton E Holmes MARTA station is conveniently located approximately 400 feet away, enhancing pedestrian access. The current Net Operating Income (NOI) stands at $307,549, with a pro-forma NOI projected at $313,052, yielding a 7.79% cap rate. The asking price for this fee-simple ownership is $3,950,000. This stabilized investment offers potential for value enhancement through lease upgrades with national tenants, capitalizing on the existing strong tenant base and high traffic counts.
Value Estimation
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Atlanta
- County
- Fulton
- State
- Georgia
- Longitude
- -84.4684
- Latitude
- 33.7526
