845 Flat Shoals AveAtlanta, GA 30316

Property Details for 845 Flat Shoals Ave

Year built

1920

Lot size

0.21 AC

Property size (Sq ft)

2,615 SF

Property type

Retail properties

Property subtype

Lifestyle centers

Description

This exceptional 2,615 square foot retail property, located at 845 Flat Shoals Ave SE in Atlanta, Georgia, presents a compelling investment opportunity. The completely renovated building, originally constructed in 1920 and extensively updated in 2022, boasts a new TPO roof, insulated storefront, and modernized mechanical, electrical, and plumbing (MEP) systems. Currently operating at 100% occupancy with two tenants, this multi-tenant property offers a strong net operating income (NOI) of $83,700, translating to a 6.00% capitalization rate. The property features nine parking spaces and sits on a 0.213-acre lot zoned C-1. Lease terms are NNN, with a remaining lease term of approximately 2.4 years until March 31, 2027. Rent bumps of 3% and 5% are built into the leases. One tenant, Mercer Street Meals, is currently open and operating. The second tenant, The Brunch at East Atlanta, is under construction, with a projected opening in Summer 2024. This prime location in East Atlanta benefits from a rising income demographic, making it an attractive investment for discerning buyers. The asking price is $1,395,000, representing a price per square foot of $533.46. The property consists of one single-story building.

Location Insight

City

Atlanta

County

DeKalb

State

Georgia

Latitude

33.731

Longitude

-84.3368

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