Current Use by Public Records
- Retail properties & Spaces
Property Details for 2601 Ga-138
- Year built
- 2016
- Lot size
- 2.18 lot acres
- Property type
- Retail properties & Spaces
- Property subtype
- Grocery and convenience stores
Description
This exceptional investment opportunity presents a fee-simple, Class A, single-tenant, absolute NNN leased convenience store and grocery store. The 8,433 square foot Family Dollar store, built in 2016, is located on a 2.18-acre lot at a heavily trafficked intersection in Conyers, Georgia (30013), boasting over 18,000 vehicles daily. The property features 35 parking spaces and enjoys 100% occupancy since its lease commencement on September 1, 2016. The current lease has 6.6 years remaining on the initial 15-year term, with built-in rent bumps of 9.10% in year 11 and 10% in each of the six, five-year options. The property generates a substantial net operating income (NOI) of $122,272, resulting in a 7.85% cap rate and a price per square foot of $184.70. The property benefits from its location as the only dollar store within a 3-mile radius, situated across from Hightower Trail Elementary School, and is conveniently located 32 miles from Hartsfield-Jackson Atlanta International Airport. This prime location within the Atlanta MSA, the sixth most populous area in the U.S., offers significant potential for long-term growth and passive income. The property's strong performance and favorable lease terms make it an attractive investment for discerning buyers seeking a high-yield, low-maintenance asset in a thriving market.
Value Estimations
-
AI approach
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Conyers
- County
- Rockdale
- State
- Georgia
- Longitude
- -83.9602
- Latitude
- 33.6937
