5561 Memorial DrStone Mountain, GA 30083

Property Details for 5561 Memorial Dr

Year built

1975

Lot size

12.80 AC

Property size (Sq ft)

58,513 SF

Zone code

C1

Property type

Community centers

APN

18 070 03 008

APU

1807003008

Description

Village Square, a 117,094 square foot shopping center in Stone Mountain, GA, is available for sale at $5,500,000 ($46.97/sq ft). This fee simple property, situated on 13.172 acres, features three buildings with two stories, built in 1978 and renovated in 1988 and 2014. Currently boasting 46.1% occupancy with a Net Operating Income (NOI) of $148,968, this value-add opportunity presents significant upside potential through lease-up of vacant spaces and potential out-parcel development. The property includes 23 units, is zoned commercial, and benefits from a high-traffic location on Memorial Drive (64,000+ cars daily), offering excellent visibility and accessibility. The existing leases are NNN, with a single tenant and expiration date of February 28, 2026 (1.3 years remaining). The property is being offered for a quick sale at a significant discount to replacement cost and is not subject to financing contingencies. The sale is a direct sale by the owner, and the buyer is responsible for any necessary zoning approvals for redevelopment. Located 15 miles east of Atlanta, this property offers investors and developers a unique chance to capitalize on the area's growth potential. The property's location across from a Chick-fil-A and its easy ingress/egress from Memorial Drive and Village Square Drive further enhance its appeal. Two lease options are available.

• CAP approach

  CAP return

  Valuation

  6%

  $18,481,332

  6.5%

  $17,059,692

  7%

  $15,841,142

• Comparable approach

  Method

  Valuation

  Relative Method

  $28,762,136

  Geo Method

  $28,762,136

• Alternative Use

  Use

  Valuation

  Residential

  $14,390,488

  Hospitality

  $13,181,610

  Educational

  $10,966,944

  Medical

  $11,344,114

  Retail

  $17,059,692

Location Insight

City

Stone Mountain

County

Dekalb

State

Georgia

Latitude

33.7994

Longitude

-84.2107

CBSA code

12060

CBSA name

ATLANTA-SANDY SPRINGS-MARIETTA, GA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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