68 Marietta PkwyMarietta, GA 30060

Property Details for 68 Marietta Pkwy

Year built

1966

Lot size

0.80 AC

Property size (Sq ft)

19,070 SF

Zone code

CBD

Property type

Retail properties

Property subtype

Retail space

APN

16121810140

APU

16121810140

Description

This exceptional investment opportunity presents the chance to acquire Marietta Square Market, a vibrant 18,925 square foot food hall located at 68 North Marietta Pkwy NW, Marietta, GA 30060. Built in 1996 and extensively renovated in 2019, this multi-tenant property boasts 20 units totaling 12,540 net rentable square feet and currently enjoys 100% occupancy. The property benefits from a strong location just off the historic Marietta Square, a bustling live-work-play destination in Cobb County with an average household income exceeding $103,000 within a one-mile radius and over 73,000 vehicles passing daily. The property's success is evident in its impressive sales, nearing $12 million annually, translating to nearly $1,000 per square foot. This adaptive reuse project, winner of multiple marketing and branding awards, benefits from a strong online presence and enjoys exceptional synergy among its carefully curated tenants. The property operates under a NNN lease structure and sits on separately owned land with a long-term ground lease extending until 2093, including options. Further enhancing the property's value is the upcoming development of 122 multi-family units directly adjacent to the property. The current Net Operating Income (NOI) stands at $793,509. This is a rare opportunity to acquire a high-performing, award-winning food hall in a prime suburban Atlanta location.

• CAP approach

  CAP return

  Valuation

  6%

  $6,175,990

  6.5%

  $5,700,914

  7%

  $5,293,706

• Comparable approach

  Method

  Valuation

  Relative Method

  $8,062,988

  Geo Method

  $9,373,881

• Alternative Use

  Use

  Valuation

  Residential

  $4,808,934

  Hospitality

  $4,404,958

  Educational

  $3,664,874

  Medical

  $3,790,914

  Retail

  $5,700,914

Location Insight

City

Marietta

County

Cobb

State

Georgia

Latitude

33.9543

Longitude

-84.5515

CBSA code

12060

CBSA name

ATLANTA-SANDY SPRINGS-MARIETTA, GA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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