281 Upper Riverdale RdJonesboro, GA 30236

Property Details for 281 Upper Riverdale Rd

Year built

1986

Lot size

22.42 AC

Property size (Sq ft)

112,562 SF

Property type

Retail properties

Property subtype

Retail space

Description

This exceptional investment opportunity presents a 112,562 square foot, single-tenant, freestanding retail building located at 281 Upper Riverdale Road, Jonesboro, GA 30236. The property, built in 1986 and extensively renovated in 2021, boasts a 100% occupancy rate with a credit-rated tenant, Fine Fabrics, under a Net Lease (NNN) agreement. The current lease commenced October 7, 2021, and has a remaining term of approximately 4.9 years, expiring October 30, 2029. The asking price is $8,250,000, representing a 7.20% cap rate and a pro-forma cap rate of 13.24%. The property generates a current NOI of $594,068 and a pro-forma NOI of $1,092,000. Significant renovations totaling $1,715,000 were completed in 2021-2022, encompassing roof replacement, electrical and plumbing upgrades, new HVAC systems, epoxy flooring, interior and exterior painting, alarm system installation, LED lighting, and sprinkler system repairs. The 22.42-acre lot provides ample parking for 300 vehicles. The property is zoned GB and strategically located between Highway 75 and Tara Boulevard, offering excellent visibility and accessibility. This is a rare opportunity to acquire a high-performing, well-maintained retail asset with a strong tenant and significant upside potential.

Location Insight

City

Jonesboro

County

Clayton

State

Georgia

Latitude

33.5809

Longitude

-84.3814

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