5561 Memorial DrStone Mountain, GA 30083
- Retail properties
- 58,513 SF
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
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
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
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