Lake Ridge Retail | 1296 Highway 138
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Lake Ridge Retail 1296 Highway 138
11,340 SF 100% Leased Retail Building Riverdale, GA 30296 £1,601,350 (£141/SF) 7.20% Net Initial Yield
Investment Highlights
- Stable Cash Flow
- High traffic road with over 26,000 average daily traffic
- Population of over 180,000 in a 5-mile radius
- Majority of tenants have been at this location since 2008 when the property was built
- Within 2-miles of Atlanta Airport
- Great investment offered at below replacement cost
Executive Summary
Lake Ridge Retail is a 11,340 square foot, value add retail center built in 2008 located in densely populated Riverdale a suburb in south Atlanta on approximately 2.0 +/- acres of fee simple land.
The center represents an excellent opportunity to acquire a cash flowing property at below replacement cost. The center is currently 100% leased with majority of tenants having been there since the property was built in 2008. Currently, it is managed
by the owner. Easy for new owner to self-manage, excellent demographic, long term and stable tenants who cater to the
captive residents of the immediate area.
Featuring a Little Caesar Pizza, American Wings & Hibachi, Tax Express, Nail salon, Hair Studio, Food mart are among the tenants and serve the area residents who surround the center.
The center represents an excellent opportunity to acquire a cash flowing property at below replacement cost. The center is currently 100% leased with majority of tenants having been there since the property was built in 2008. Currently, it is managed
by the owner. Easy for new owner to self-manage, excellent demographic, long term and stable tenants who cater to the
captive residents of the immediate area.
Featuring a Little Caesar Pizza, American Wings & Hibachi, Tax Express, Nail salon, Hair Studio, Food mart are among the tenants and serve the area residents who surround the center.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Storefront
Building Size
11,340 SF
Building Class
B
Year Built
2008
Price
£1,601,350
Price Per SF
£141
Net Initial Yield
7.20%
NOI
£115,226
Percent Leased
100%
Tenancy
Multiple
Number of Floors
1
Building FAR
0.12
Land Acres
2.16 AC
Zoning
GB - General Business
Parking
60 Spaces (5.29 Spaces per 1,000 SF Leased)
Frontage
302 ft on Ga highway 138
Amenities
- Dedicated Turn Lane
- Pylon Sign
PROPERTY TAXES
| Parcel Number | 13-0200B-00A-003 | Improvements Assessment | £245,851 |
| Land Assessment | £79,949 | Total Assessment | £325,800 |
PROPERTY TAXES
Parcel Number
13-0200B-00A-003
Land Assessment
£79,949
Improvements Assessment
£245,851
Total Assessment
£325,800
-
Russell Malayery, CCIM -
Buckhead Brokers Commercial Realtors, LLC
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Lake Ridge Retail | 1296 Highway 138
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