281 Upper Riverdale Rd Jonesboro, GA 30236
- Retail properties
- 112,562 SF
- 22.42 lot acres
Current Use by Public Records
- Fine Fabrics / Fabric Store / Fabric Wholesaler
- Shadow Barber Shop / Barber Shop
- Visual Sensations Ink Tattoos / Tattoo Shop
Property Details for 281 Upper Riverdale Rd
- Year built
- 1986
- Lot size
- 22.42 lot acres
- Property size
- 112,562 SF
- Property type
- Retail properties
- Property subtype
- Retail space
Description
This exceptional investment opportunity presents a 112,562 square foot, single-tenant, freestanding retail building located at 281 Upper Riverdale Road, Jonesboro, GA 30236. The property, built in 1986 and extensively renovated in 2021, boasts a 100% occupancy rate with a credit-rated tenant, Fine Fabrics, under a Net Lease (NNN) agreement. The current lease commenced October 7, 2021, and has a remaining term of approximately 4.9 years, expiring October 30, 2029. The asking price is $8,250,000, representing a 7.20% cap rate and a pro-forma cap rate of 13.24%. The property generates a current NOI of $594,068 and a pro-forma NOI of $1,092,000. Significant renovations totaling $1,715,000 were completed in 2021-2022, encompassing roof replacement, electrical and plumbing upgrades, new HVAC systems, epoxy flooring, interior and exterior painting, alarm system installation, LED lighting, and sprinkler system repairs. The 22.42-acre lot provides ample parking for 300 vehicles. The property is zoned GB and strategically located between Highway 75 and Tara Boulevard, offering excellent visibility and accessibility. This is a rare opportunity to acquire a high-performing, well-maintained retail asset with a strong tenant and significant upside potential.
Value Estimation
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Jonesboro
- County
- Clayton
- State
- Georgia
- Longitude
- -84.3814
- Latitude
- 33.5809
