7173 Covington Hwy Lithonia, GA 30058

Property Details for 7173 Covington Hwy

Year built

1968

Construction

WOOD FRAME

Lot size

0.58 lot acres

Property size

11,280 SF

Zone code

M

Property type

Warehouses

APN

16 121 03 013

APU

1612103013

Description

This exceptional 20,000-square-foot mini-mall in Lithonia, Georgia, presents a compelling investment opportunity. Located at 7173 Covington Hwy, 30058, this 100% occupied property boasts 16 established tenants, including diverse businesses such as a U-Haul store, hair salons, restaurants, and retail shops. Built in 1968, the property offers a strong 7.16% cap rate with a net operating income (NOI) of $250,530 and an asking price of $3,500,000 ($175/sq ft). The property features ample parking (160 spaces) and high visibility due to its strategic location on Covington Highway, between Donna Lisa Drive and Lithonia Industrial Boulevard. Large signage ensures excellent visibility for both the property and its tenants. The property's multi-tenant structure, diverse tenant mix, and high occupancy rate contribute to its strong financial performance and make it an attractive investment for those seeking a stable, high-yield asset in a prime location. The property is classified as industrial, with subtypes including distribution, flex, and manufacturing, offering flexibility for a variety of uses. This modified lease property provides a stable income stream and significant potential for future growth. The property's location offers easy access and high visibility, making it an ideal investment opportunity.

Location Insight

City

Lithonia

County

Dekalb

State

Georgia

Longitude

-84.1255

Latitude

33.714

CBSA code

12060

CBSA name

ATLANTA-SANDY SPRINGS-MARIETTA, GA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments