For Sale
$3,500,000

2460 M.l.k. Jr DrAtlanta, GA 30311

Atlanta Retail Investment Opportunity

Overview

Added:
Dec 11, 2024
Days on market:
113
Gordon Plaza, a 20,008-square-foot shopping center in Atlanta, GA, presents a compelling investment opportunity. This Class B, multi-tenant property boasts 100% occupancy with 13 tenants, many of whom have operated there for over a decade, generating a strong NOI of $287,971 and an 8.23% cap rate. The property features 50 parking spaces and is situated on 1.54 acres at 2460 M.L.K. Jr Dr SW, offering high visibility with 25,640 vehicles passing daily. Its prime location provides convenient access to I-20 and I-285, and is directly across from the Hamilton E. Holmes MARTA station, benefiting from nearby new developments and a growing population. The property, built in 1967, has recently undergone improvements including repainting and parking lot resurfacing. The asking price is $3,500,000 ($174.93/sq ft), representing a net lease investment with a remaining lease term of 5 years. The property is located in a designated Qualified Opportunity Zone and benefits from significant nearby development, including a major Microsoft campus expansion. The area shows strong growth potential, with over 375,000 people within a 5-mile radius and an average household income of $61,344, projected to increase by 22.40% in the next five years. Additional income is generated from leased billboards. This is a rare opportunity to acquire a well-maintained, fully leased retail property in a rapidly developing area of Atlanta.

Highlights

  • Across the street from Hamilton E. Holmes MARTA station.
  • Strong tenant mix with many long-term tenants.
  • Additional income from leased billboards.
  • High visibility with 25,640 vehicles per day (VPD) on Martin Luther King Jr. Drive SW, with easy access to I-20 and I-285.
  • Significant redevelopment and investment in the area.
  • Located in a Qualified Opportunity Zone (QOZ).

Property Details for 2460 M.l.k. Jr Dr

Property type
Lifestyle centers, Power centers
Square Feet
20,008 SF
Class
B
Year Built
1967
Buildings
1
Stories
1
Units
13

Location Insight

City
Atlanta
County
Fulton
State
Georgia
Latitude
33.7516272
Longitude
-84.4686593
2460 M.l.k. Jr Dr, Atlanta, Georgia

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2460 M.l.k. Jr Dr
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