Auction - REIT Sale | Former Regal Cinemas | 2840 E West Connector
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Auction - REIT Sale | Former Regal Cinemas 2840 E West Connector
89,056 SF Retail Building Austell, GA 30106 $500,000 ($6/SF)
Investment Highlights
- STARTING BID $500,000 | Former Regal Cinemas | 89,056 SF | 34K VPD | Atlanta MSA | AUCTION FEBRUARY 24-26, 2025
- Located at Signalized Entrance with 34K VPD Traffic Counts and Strategic Frontage on Prime Corridor of East-West Connector
- Neighboring Retail and Traffic Drivers: Walmart, Lowe’s, Home Depot, Target, Planet Fitness, McDonald’s, Wellstar Health, Kaiser Permanente
- 89,056 SF Former Regal Cinemas on Expansive 13.86 AC Parcel in Cobb County; 35-Minutes from Atlanta, GA
- Favorable CRC, General Commercial Zoning with Flexible Uses Permitted including Retail, Motel, Office, and more
- AUCTION SITE: https://rimarketplace.com/auction/2308/reit-sale-former-regal-cinemas-89-056-sf-34k-vpd-atlanta-msa?utm_source=costar
Executive Summary
Online Auction Feb 10-12, 2025
Register to Bid and Access Due Diligence Documents on RealINSIGHT Marketplace
https://rimarketplace.com/auction/2308/reit-sale-former-regal-cinemas-89-056-sf-34k-vpd-atlanta-msa?utm_source=costar
Marcus & Millichap and RI Marketplace are pleased to present a vacant, free-standing retail building located at 2480 East-West Connector in Austell, GA 30106 (the “Property”). Formerly occupied by Regal Cinemas, the Property is being offered significantly below replacement cost, providing an exceptional opportunity for investors to acquire a highly visible and strategically positioned asset with substantial value enhancement potential.
Built in 1999, the Property consists of a one-story, free-standing building containing ±89,056 gross square feet and operated as a Regal movie theater complex containing 22 screens with a total seating capacity of ±4,684. This former Regal is positioned on an expansive ±13.86-acre parcel with ±1,094 on-site parking spaces. The site is located at a signalized intersection and is easily accessible via multiple ingress/egress points along the East-West Connector, a major arterial road that carries ±34,366 vehicles per day. The Property offers potential owner/users or investors the ability to reposition the asset for retail, entertainment, or commercial uses with significant value add through lease up at long term market rates (CoStar estimated retail rents of ±$19/SF NNN). Zoned “CRC” Community Retail Commercial by Cobb County, this zoning provides flexible options for adaptive reuse or repositioning strategies.
This former Regal Cinemas is strategically positioned along the high-traffic East-West Connector in Austell, GA, a growing suburban area in Cobb County within Metro Atlanta. Austell offers a mix of suburban living and easy access to the vibrant city of Atlanta, which is just a short drive away. The Property is conveniently located near Powder Springs Rd (±10,222 VPD) and is within ±10 miles of both I-20 and I-285, the area offers strong regional connectivity and is just ±17 miles west of downtown Atlanta and ±20 miles from Hartsfield-Jackson Atlanta International Airport. The Property also benefits from its proximity to key demand drivers such as WellStar Cobb Hospital (±3 miles away), South Cobb High School (±2.5 miles away), and major retail centers including a new Lidl center and nearby Walmart-anchored center. This former Regal Cinemas is positioned within a thriving trade area, surrounded by strong residential growth and access to a population of nearly 65k people within a 3-mile area and ±167k individuals with an AHHI of ±$112,485 within a 5-mile area.
Register to Bid and Access Due Diligence Documents on RealINSIGHT Marketplace
https://rimarketplace.com/auction/2308/reit-sale-former-regal-cinemas-89-056-sf-34k-vpd-atlanta-msa?utm_source=costar
Marcus & Millichap and RI Marketplace are pleased to present a vacant, free-standing retail building located at 2480 East-West Connector in Austell, GA 30106 (the “Property”). Formerly occupied by Regal Cinemas, the Property is being offered significantly below replacement cost, providing an exceptional opportunity for investors to acquire a highly visible and strategically positioned asset with substantial value enhancement potential.
Built in 1999, the Property consists of a one-story, free-standing building containing ±89,056 gross square feet and operated as a Regal movie theater complex containing 22 screens with a total seating capacity of ±4,684. This former Regal is positioned on an expansive ±13.86-acre parcel with ±1,094 on-site parking spaces. The site is located at a signalized intersection and is easily accessible via multiple ingress/egress points along the East-West Connector, a major arterial road that carries ±34,366 vehicles per day. The Property offers potential owner/users or investors the ability to reposition the asset for retail, entertainment, or commercial uses with significant value add through lease up at long term market rates (CoStar estimated retail rents of ±$19/SF NNN). Zoned “CRC” Community Retail Commercial by Cobb County, this zoning provides flexible options for adaptive reuse or repositioning strategies.
This former Regal Cinemas is strategically positioned along the high-traffic East-West Connector in Austell, GA, a growing suburban area in Cobb County within Metro Atlanta. Austell offers a mix of suburban living and easy access to the vibrant city of Atlanta, which is just a short drive away. The Property is conveniently located near Powder Springs Rd (±10,222 VPD) and is within ±10 miles of both I-20 and I-285, the area offers strong regional connectivity and is just ±17 miles west of downtown Atlanta and ±20 miles from Hartsfield-Jackson Atlanta International Airport. The Property also benefits from its proximity to key demand drivers such as WellStar Cobb Hospital (±3 miles away), South Cobb High School (±2.5 miles away), and major retail centers including a new Lidl center and nearby Walmart-anchored center. This former Regal Cinemas is positioned within a thriving trade area, surrounded by strong residential growth and access to a population of nearly 65k people within a 3-mile area and ±167k individuals with an AHHI of ±$112,485 within a 5-mile area.
Property Facts
Sale Type
Investment or Owner User
Sale Condition
Auction Sale
Property Type
Retail
Property Subtype
Movie Theatre
Building Size
89,056 SF
Building Class
B
Year Built
1999
Price
$500,000
Price Per SF
$6
Tenancy
Single
Building Height
1 Story
Building FAR
0.15
Lot Size
13.80 AC
Zoning
CRC/WS
Parking
1,094 Spaces (12.28 Spaces per 1,000 SF Leased)
Amenities
- Signage
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 19-0788-0-014-0 | Improvements Assessment | $506,308 |
| Land Assessment | $2,373,692 | Total Assessment | $2,880,000 |
PROPERTY TAXES
Parcel Number
19-0788-0-014-0
Land Assessment
$2,373,692
Improvements Assessment
$506,308
Total Assessment
$2,880,000
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Auction - REIT Sale | Former Regal Cinemas | 2840 E West Connector
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