5970 Old Dixie HwyForest Park, GA 30297
- Office properties
- 2,771 SF
Property Details for 5970 Old Dixie Hwy
- Year built
- 1977
- Lot size
- 0.89 AC
- Property size (Sq ft)
- 2,771 SF
- Zone code
- GB
- Property type
- Office properties
- Property subtype
- Office buildings
- APN
- 13-110C- B-014
- APU
- 13110CB014
Description
This exceptional net lease investment opportunity presents a 2,971 square foot freestanding retail building occupied by TitleMax, a prominent national tenant. Located in Forest Park, Georgia, within the Atlanta MSA, this property boasts a strong 6.6% cap rate and a substantial remaining lease term of 13 years, extending to November 30, 2037. The lease commenced December 1, 2007, and includes attractive 2% annual rent increases, ensuring consistent income growth. The property sits on a 0.89-acre lot in a high-traffic area with over 20,200 vehicles passing daily. Its strategic location on a major retail artery provides excellent visibility and accessibility. The surrounding area is densely populated, with a 5-mile radius encompassing over 186,657 residents and an average household income of $57,048. Further enhancing its value, Forest Park has a moratorium on new title lending businesses, creating a high barrier to entry for competitors. The property's proximity to Interstate 75, Interstate 285, and Hartsfield-Jackson International Airport adds to its appeal. Built in 1977, this single-story building is zoned GB and offers a fee-simple ownership structure, making it an ideal 1031 exchange opportunity. The current net operating income (NOI) stands at $52,948, with an asking price of $802,242 and a price per square foot of $270.02. The property is situated near various retail establishments, residential areas, and key amenities, including Clayton State University and Southlake Mall. This investment offers a compelling combination of strong tenant occupancy (100%), a secure lease, and significant growth potential in a thriving market. The property's parcel number is 13110C B014.
Valuation
by Paperhouses methods
- Valuation date:
- Dec 11, 2024
-
CAP approach
- CAP return
- Valuation
- 6%
- $352,455
- 6.5%
- $325,343
- 7%
- $302,104
-
Comparable approach
- Method
- Valuation
- Relative Method
- $540,511
- Geo Method
- $540,511
-
Alternative Use
- Use
- Valuation
- Residential
- $403,425
- Hospitality
- $369,535
- Educational
- $307,449
- Medical
- $318,022
- Retail
- $478,254
Location Insight
- City
- Forest Park
- County
- Clayton
- State
- Georgia
- Latitude
- 33.592
- Longitude
- -84.3763
- 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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