1685 Old Norcross RdLawrenceville, GA 30046

Property Details for 1685 Old Norcross Rd

Year built

2007

Lot size

3.46 AC

Property size (Sq ft)

17,080 SF

Zone code

C2-GENERAL BUSINESS

Property type

Other commercial real estate

APN

7-005 -354

APU

7005354

Description

This exceptional 32,060 square foot shopping center, situated on 3.5 acres in Lawrenceville, Georgia, presents a compelling investment opportunity. Built in 2008 and extensively renovated in 2022-2023 (over $500,000 in capital improvements), the property boasts two single-story buildings with a 100% occupancy rate. The center features a diverse mix of service-oriented tenants, including hair salons, shops, a coin laundry, a pet groomer/boarding facility, and various food service establishments such as an ice cream shop, bakery, and coffee shop. Tenants have invested over $900,000 in build-outs. The property enjoys a desirable C-2 zoning and benefits from its location near the highly trafficked Sugarloaf Parkway in a rapidly growing residential and commercial area. The strong tenant mix, coupled with annual rent increases and market-rate rents, ensures a stable income stream and organic NOI growth. With a Net Operating Income (NOI) of $528,830 and an asking price of $7,560,000, this investment offers a 7.00% capitalization rate. Recent improvements include new paint, gutters, monument and landscaping, and a completely repaired, resealed, and restriped parking lot. This e-commerce resistant property is an ideal addition to any portfolio. The property's address is 1685 Old Norcross Rd, Lawrenceville, GA 30046.

• Alternative Use

  Use

  Valuation

  Residential

  $3,430,936

  Hospitality

  $3,142,720

  Educational

  $2,614,706

  Medical

  $2,704,630

  Retail

  $4,067,320

Location Insight

City

Lawrenceville

County

Gwinnett

State

Georgia

Latitude

33.9534

Longitude

-84.0488

CBSA code

12060

CBSA name

ATLANTA-SANDY SPRINGS-MARIETTA, GA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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