For Sale
$5,500,000

5561 Memorial DrStone Mountain, GA 30083

Stone Mountain retail center, value-add opportunity.

Overview

Added:
Dec 11, 2024
Days on market:
114
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.

Highlights

  • 117,094 SF shopping center in Stone Mountain, GA, available for $5,500,000 ($46.97/SF).
  • Fee simple ownership on 13.17 acres, three buildings (two stories), built in 1978, renovated in 1988 and 2014.
  • Currently 46.1% occupied, with a $148,968 NOI; value-add opportunity through lease-up and potential outparcel development.
  • High-traffic location on Memorial Drive (64,000+ cars daily), excellent visibility and accessibility; 23 units, commercially zoned.
  • NNN leases, one tenant, lease expiration February 28, 2026. Offered at a significant discount to replacement cost, cash sale, buyer responsible for zoning approvals.

Property Details for 5561 Memorial Dr

Property type
Lifestyle centers, Power centers
Square Feet
117,094 SF
Year Built/Renovated
1978/1988
Buildings
3
Stories
2
Lot Size (sq. ft)
573,772 SF
Units
23

Location Insight

City
Stone Mountain
County
DeKalb
State
Georgia
Latitude
33.7991894
Longitude
-84.2111847
5561 Memorial Dr, Stone Mountain, Georgia

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?
Please email our support team at [email protected] and they will add the team member.
How do I access a private listing?
Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
How do I unsubscribe from emails?
At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].
5561 Memorial Dr
Thanks! Your message was sent.
Error! Your message wasn't sent.
Please enter your first name
Please enter your last name
Please enter email
Please enter the email in the correct format
Please enter phone
Please enter the number in the correct format
Select size
Please enter message