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1155 Ernest W Barrett Pky NW

18,789 SF 100% Leased Retail Building Kennesaw, GA 30144 £14,126,318 (£752/SF) 6.20% Net Initial Yield

Investment Highlights

  • Fully Leased Multi-Tenant Retail Buildings - 2024 Construction
  • Prominent Retail Node in Northern Atlanta – Low Submarket Vacancy of 3%
  • Near Kennesaw State University – 50,000+ Students & Staff
  • All Tenants on 10+ Year Leases
  • Leading Commercial Node Regionally & Nationwide – Ranked #2 in Georgia & Top 2% in the Nation
  • Strategically Situated Between Major Atlanta MSA Arterials | Interstate 75 & 575 | 301,770 AADT

Executive Summary

The subject property is prominently located in northwestern Cobb County in the City of Kennesaw. The site has excellent access and visibility along Ernest W Barrett Parkway NW (55,500 AADT) adjacent to its junction with Cobb Pkwy/U.S. Route 41 (42,000 AADT), Northwest Atlanta’s busiest retail corridor, with an extended trade area reaching over 50 miles. A total daytime population of 206,104 and average household income of $135,257 with over 51% of households making over $100,000 annually within a 5-mile radius contribute to the robust demographics. Kennesaw has experienced a population growth rate of approximately 8.4% over the last ten years, surpassing Cobb County’s overall growth rate of 7.4%, which underscores the city’s growing appeal as a top Atlanta suburb.

The site benefits from a prominent retail location in close proximity to shopping centers and major retail tenants. Adjacent to the site is Kennesaw Marketplace, the 2nd most visited neighborhood center in Georgia, which is anchored by Whole Foods (#3 visited store in GA). Barrett Pavilion is adjacent to the site, with anchor tenants including Target and Total Wine & More, the #1 most visited location in Georgia. Also adjacent to the site is Cobb Place, anchored by DSW and Whataburger; and Barrett Crossing, anchored by Floor & Decor. 2 miles from the site is Town Center Plaza which is anchored by T.J. Maxx(#3 visited store in GA and #30 in the nation), and Marshalls (#2 visited store in GA). Also within 2 miles from the site are Town Center at Cobb, an established two-tory mall highlighting 170 retailers including Macy’s; and Barrett Parkway, anchored by Publix. Other neighboring retailers include Walmart, Costco, LA Fitness, Tesla, and Carl Black Chevrolet Buick GMC.

*This property is listed in conjunction with Georgia-licensed real estate broker Delta Commercial.

Property Facts

Sale Type
Investment NNN
Sale Condition
1031 Exchange
Property Type
Retail
Building Size
18,789 SF
Building Class
C
Year Built
2024
Price
£14,126,318
Price Per SF
£752
Net Initial Yield
6.20%
NOI
£875,832
Percent Leased
100%
Tenancy
Multiple
Number of Floors
1
Building FAR
0.20
Lot Size
2.19 AC
Zoning
GC - Commercial
Frontage
236 ft on Cobb Place Drive

Amenities

  • Restaurant
  • Signage
  • Air Conditioning

Nearby Major Retailers

Freddy's Frozen Custard & Steakburgers
LA Fitness
Crunch
LongHorn Steakhouse
Carrabba’s Italian Grill
IHOP
Maple Street Biscuit Company
Five Guys
MOD Pizza
Newk's Eatery

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
20-0208-0-038-0
Land Assessment
£591,418
Improvements Assessment
£550,338
Total Assessment
£1,141,755
  • Listing ID: 34225098

  • Date on Market: 17/12/2024

  • Last Updated:

  • Address: 1155 Ernest W Barrett Pky NW, Kennesaw, GA 30144

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