Spring Mill Village | 6009-6011 Memorial Dr
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Spring Mill Village 6009-6011 Memorial Dr
102,539 SF 98% Leased Retail Building Stone Mountain, GA 30083 $6,990,000 ($68/SF) 9% Cap Rate
Executive Summary
9 % CAP, High-yield investment opportunity! 9 % CAP rate with vacancy factor calculated from Jan 2025. Excellent value-add potential Major renovations were recently completed, including new roof and new HVAC units on Suite #14. Suite #1 and #2 have major HVAC repaired or replaced upon signing the lease. Strong property management in place. Out of two vacant units, one is out-parcel which has many interested buyers and the other is fully ready restaurant space that you can lease quickly and add immediately add $1,000,000 additional value. Rent is below market rate, with significant upside potential The building is in good condition and the price is below the replacement cost. Three in & out entrances for easy customer access Successful tenants include Afkan Grocery (It is opening its 2nd location in Gwinnett county at its own building now. It also want to lease additional 10,000 SF here in the plaza ), Beauty Supply, Amazing Offer and and Dex(CCS) is busy during the weekend. Dex is one of the largest card game stores in Atlanta Georgia.
Out-Parcel Opportunity
Drive Tru ATM place can be sold as an out-parcel. Seller has many parties who wanted lease it for Emission but left for vacant for the future development opportunity
Interest only Financing by the Seller
With the full-price offer, the seller can provide seller finance with a $5,000,000 down payment for one or two years. Buyer has to use NDI management company upon Seller financing. Buyer can not mix loan with lender and seller financing since seller wants 1st lender position which bank will refuse. Interest rate shall be market rate .
Cell Tower is not included in the sale, It is now owned by the seller.
Out-Parcel Opportunity
Drive Tru ATM place can be sold as an out-parcel. Seller has many parties who wanted lease it for Emission but left for vacant for the future development opportunity
Interest only Financing by the Seller
With the full-price offer, the seller can provide seller finance with a $5,000,000 down payment for one or two years. Buyer has to use NDI management company upon Seller financing. Buyer can not mix loan with lender and seller financing since seller wants 1st lender position which bank will refuse. Interest rate shall be market rate .
Cell Tower is not included in the sale, It is now owned by the seller.
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Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Convenience Store
Building Size
102,539 SF
Building Class
C
Year Built/Renovated
1979/1988
Price
$6,990,000
Price Per SF
$68
Cap Rate
9%
NOI
$629,100
Percent Leased
98%
Tenancy
Multiple
Building Height
1 Story
Loading Docks
1 Exterior
Building FAR
0.18
Lot Size
13.44 AC
Opportunity Zone
Yes
Zoning
C1 - C-1
Parking
451 Spaces (4.4 Spaces per 1,000 SF Leased)
Frontage
Amenities
- Pylon Sign
- Signalized Intersection
Nearby Major Retailers
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $2,623,231 | |
| Land Assessment | $440,569 | Total Assessment | $3,063,800 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$440,569
Improvements Assessment
$2,623,231
Total Assessment
$3,063,800
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Spring Mill Village | 6009-6011 Memorial Dr
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