5561 Memorial DrStone Mountain, GA 30083

  • Retail properties
  • 58,513 SF
For Sale
$5,500,000 View listing

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
Retail properties
Property subtype
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.

Valuation
by Paperhouses methods

Valuation date:
Dec 11, 2024
  • 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
5561 Memorial Dr, Stone Mountain, Georgia

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

Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2024
$92,986
$648,000
$1,094,080
$1,742,080
-
$1,620,000
$2,735,200
$4,355,200

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