5970 Old Dixie HwyForest Park, GA 30297

  • Office properties
  • 2,771 SF
For Sale
$802,242 View listing

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
5970 Old Dixie Hwy, Forest Park, Georgia

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

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
$5,853
$44,000
$106,040
$150,040
-
$110,000
$265,100
$375,100

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