5561 Memorial Dr, Stone Mountain, GA 30083-3237
- Community centers
- 58,513 SF
- 12.80 lot acres
Current Use by Public Records
- Synergy Event Center LLC / Hotel & Motel / Resort
- Christian Mission of Atlanta / Church
- Moxon Ryan S DDS / Dental Office
- Dr. Gregory D. Brown Sr, DDS / Dental Office
- Queens Palace Co / Hair Salon
Property Details for 5561 Memorial Dr
- Year built
- 1975
- Lot size
- 12.80 lot acres
- Zone code
- C1
- Property type
- Community centers
- Property subtype
- Shopping centers
- APN
- 18 070 03 008
- APU
- 1807003008
Sales History
| Date | Price | Buyer | Seller | Deed Type | Mortgage |
|---|---|---|---|---|---|
| Oct 15, 2021 | — | Insignia Village Square LLC | — | Deed · related | $800k · Westmoore Lending Partners III |
| Dec 10, 2020 | — | Insignia Village Square LLC | — | Deed · related | — |
| Jul 9, 2020 | — | Insignia Village Square LLC | — | Deed · related | $678k · Promiseone Bk |
| Feb 13, 2020 | — | Insignia Village Square LLC | — | Deed · related | $678k · Promiseone Bk |
| Oct 28, 2019 | — | Insignia Village Square LLC | — | Deed · related | $691k · Promiseone Bk |
| Jun 18, 2019 | — | Village Square LLC | — | Deed · related | $691k · Promiseone Bank |
| Mar 27, 2019 | — | Insignia Village Square LLC | — | Deed · related | $800k · Noa Bk |
| Apr 23, 2018 | — | Insignia Village Square LLC | — | Deed · related | $800k · Noa Bk |
| Jan 16, 2018 | — | Insignia Village Square LLC | — | Deed · related | $719k · Noa Bk |
| Nov 9, 2017 | — | Insignia Village Square LLC | — | Deed · related | — |
| May 30, 2017 | — | Insignia At Village Square LLC | — | Deed · related | — |
| Feb 23, 2017 | — | Insignia At Village Square LLC | — | Deed · related | $740k · Noa Bk |
| Dec 12, 2013 | $2,500,000 | Insigna Of Village Square LLC | Vs Square LLC | Grant Deed | — |
| Dec 12, 2013 | — | Insignia Of Village Square LLC | Vs Square LLC | Quit Claim Deed · related | $800k · Noa Bk |
| Aug 1, 2012 | — | Village LLC | C & I Solutions II LLC | Quit Claim Deed · related | — |
| Aug 1, 2012 | $1,540,000 | Vs Square LLC | Village LLC | Grant Deed | $800k · Noa Bank |
| Sep 27, 2004 | $4,200,000 | Vlg LLC | Park,kyong K | Warranty Deed | $2.9M · Main Street Bank |
| Sep 27, 2004 | — | Kyong K Park | Vlg Sq LLC | Quit Claim Deed · related | — |
| Sep 27, 2004 | $3,680,000 | Kyong K Park | Vlg Sq LLC | Grant Deed | — |
| — | — | Insignia At Village Square LLC | — | Loan Modification · related | — |
| — | — | Insignia Village Square LLC | — | Loan Modification · related | — |
| — | — | Insignia Village Square LLC | — | Loan Modification · related | $678k · Promiseone Bk |
| — | — | Insignia Village Square LLC | — | Loan Modification · related | $678k · Promiseone Bk |
| — | — | Insignia Village Square LLC | — | Loan Modification · related | $800k · Noa Bk |
| — | — | Insignia Village Square LLC | — | Loan Modification · related | $719k · Noa Bk |
| — | — | Insignia Village Square LLC | — | Loan Modification · related | — |
| — | — | Insignia At Village Square LLC | — | Loan Modification · related | $740k · Noa Bk |
| — | — | Insignia At Village Square LLC | — | Loan Modification · related | $725k · Noa Bk |
| — | — | Village Square LLC | — | Loan Modification · related | $691k · Promiseone Bank |
| — | — | Insignia Village Square LLC | — | Loan Modification · related | $691k · Promiseone Bk |
| — | — | Insignia Village Square LLC | — | Loan Modification · related | $800k · Noa Bk |
| — | — | Village Square LLC | — | Deed Of Trust · related | $1.9M · First Cherokee State Bank |
Description
Village Square, a 117,094 square foot shopping center in Stone Mountain, GA, is available for sale at $5,500,000 ($46.97/sq ft). This fee simple property, situated on 13.172 acres, features three buildings with two stories, built in 1978 and renovated in 1988 and 2014. Currently boasting 46.1% occupancy with a Net Operating Income (NOI) of $148,968, this value-add opportunity presents significant upside potential through lease-up of vacant spaces and potential out-parcel development. The property includes 23 units, is zoned commercial, and benefits from a high-traffic location on Memorial Drive (64,000+ cars daily), offering excellent visibility and accessibility. The existing leases are NNN, with a single tenant and expiration date of February 28, 2026 (1.3 years remaining). The property is being offered for a quick sale at a significant discount to replacement cost and is not subject to financing contingencies. The sale is a direct sale by the owner, and the buyer is responsible for any necessary zoning approvals for redevelopment. Located 15 miles east of Atlanta, this property offers investors and developers a unique chance to capitalize on the area's growth potential. The property's location across from a Chick-fil-A and its easy ingress/egress from Memorial Drive and Village Square Drive further enhance its appeal. Two lease options are available.
Value Estimations
-
Comparable approach
- Method
- Estimation
- Statistic Estimate
- $6,747,000
Market price range: $4.26M - $17.9M
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- City
- Stone Mountain
- County
- Dekalb
- State
- Georgia
- Longitude
- -84.2107
- Latitude
- 33.7994
- CBSA code
- 12060
- CBSA name
- ATLANTA-SANDY SPRINGS-MARIETTA, GA METROPOLITAN STATISTICAL AREA
