5403 Old National Hwy Atlanta, GA 30349-3205
- Retail space
- 10,647 SF
- 1.04 lot acres
Oct 31, 2024
Current Use by Public Records
- Family Dollar / Discount Store
Property Details for 5403 Old National Hwy
- Year built
- 2013
- Construction
- WOOD
- Lot size
- 1.04 lot acres
- Property size
- 10,647 SF
- Zone code
- C1
- Property type
- Retail space
- APN
- 13 0068 LL1613
- APU
- 130068LL1613
Description
This exceptional investment opportunity presents a 10,080-square-foot Family Dollar storefront in Atlanta, Georgia. The property boasts a strong 9% cap rate and a triple-net (NNN) lease with a highly-rated tenant, Family Dollar, in place since 2013. The current lease extends to June 29, 2028, offering approximately 3.6 years of remaining term, followed by five, five-year renewal options with a 7.5% rent increase per option period. The tenant recently exercised an early renewal option, demonstrating strong commitment to the location. The property features a recently renovated parking lot with 50 spaces, situated on a 1.2-acre lot in a high-traffic area with 42,202 vehicles passing daily. The building, constructed in 2013, is a single-story, Class B structure with excellent visibility on Old National Highway, providing easy access to major highways I-285 and I-85. The property benefits from a strong demographic profile, with an average household income within one mile of $65,906, projected to increase by 22.3% over the next five years. The location is part of a thriving retail node near other national tenants, residential complexes, and offices. The property's Net Operating Income (NOI) is $128,520, resulting in a price per square foot of $141.67. The tenant is responsible for all operating expenses, including HVAC and parking lot maintenance. The property is zoned C1 and has a Fulton County APN of 13-0068-LL-161-3. While the current lease has approximately four years remaining, the tenant has indicated a willingness to consider an early termination with a lump-sum payment. This presents a compelling investment opportunity with significant upside potential.
Value Estimations
-
AI approach
- Method
- Estimation
- Statistic approach
- $1,335,000
- ML approach
- $1,550,000
-
CAP approach
- CAP Return
- Estimation
- 6%
- $2,070,000
- 6.5%
- $1,910,000
- 7%
- $1,775,000
-
Comparable approach
- Method
- Estimation
- AI Estimate
- $982,000
Market price range: $370k - $1.23M
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Location Insight
- Map
- Local Demand
- City
- Atlanta
- County
- Fulton
- State
- Georgia
- Longitude
- -84.4718
- Latitude
- 33.6086
- CBSA code
- 12060
- CBSA name
- ATLANTA-SANDY SPRINGS-MARIETTA, GA METROPOLITAN STATISTICAL AREA
