2457 M.l.k. Jr DrAtlanta, GA 30311

Property Details for 2457 M.l.k. Jr Dr

Year built

2005

Lot size

2.00 AC

Property size (Sq ft)

15,600 SF

Property type

Retail properties

Property subtype

Lifestyle centers

Description

Holmes Plaza, a 15,600-square-foot shopping center in Atlanta, Georgia, presents a compelling investment opportunity. This fully occupied, single-story building, constructed in 2005, boasts seven retail suites and a substantial 76-space parking lot (4.87 spaces per 1,000 square feet). The property sits on a two-acre lot, zoned C3, and enjoys a prime location at 2457 M.L.K. Jr Dr SW, Atlanta, GA 30311, in Fulton County. Its strategic position offers high visibility and easy access, benefiting from a daily traffic count of 31,000 vehicles and proximity to the I-20/Holmes Drive interchange, just six miles west of downtown Atlanta. Furthermore, the Hamilton E Holmes MARTA station is conveniently located approximately 400 feet away, enhancing pedestrian access. The current Net Operating Income (NOI) stands at $307,549, with a pro-forma NOI projected at $313,052, yielding a 7.79% cap rate. The asking price for this fee-simple ownership is $3,950,000. This stabilized investment offers potential for value enhancement through lease upgrades with national tenants, capitalizing on the existing strong tenant base and high traffic counts.

Location Insight

City

Atlanta

County

Fulton

State

Georgia

Latitude

33.7526

Longitude

-84.4684

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