6811 Tara Blvd Jonesboro, GA 30236-1501

Property Details for 6811 Tara Blvd

Year built

1986

Lot size

0.75 lot acres

Property size

10,360 SF

Zone code

MX

Property type

Retail space

APN

13-147D- A-021

APU

13147DA021

Description

This fee-simple, 10,000 square foot shopping center in Jonesboro, Georgia, presents a compelling value-add investment opportunity. Located on Tara Boulevard, a high-traffic thoroughfare with over 70,000 vehicles daily, the property boasts a 100% occupancy rate with two tenants under triple-net (NNN) leases. The Class B, single-story building, constructed in 1985, features a strong net operating income (NOI) of $99,038, yielding an attractive 8.50% cap rate. Current rents average $9.84 per square foot, significantly below market rates of $16.89 per square foot, offering substantial upside potential for future rental increases. The property's low-maintenance NNN leases minimize landlord responsibilities, limited to roof and parking lot maintenance. Tenants include a long-standing Cash America Pawn (over 25 years) and New Orleans Seafood (over 10 years), demonstrating a history of tenancy stability. The asking price is $1,165,000, or $116.50 per square foot, representing a price well below replacement cost. This stabilized investment offers a blend of immediate income and long-term growth potential, making it an ideal addition to any portfolio. The property's location on a busy thoroughfare ensures strong retail demand, further enhancing its investment appeal. Annual rental escalations are in place for at least one tenant.

Location Insight

City

Jonesboro

County

Clayton

State

Georgia

Longitude

-84.3724

Latitude

33.5679

CBSA code

12060

CBSA name

ATLANTA-SANDY SPRINGS-MARIETTA, GA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments