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Wisdom Pointe | 7.5% Cap Rate

275 Highway 74 North
Peachtree City, GA 30269
PRICE : $5,200,000
PROPERTY TYPE: Retail
SITE SIZE: 2.93 Acres
BUILDING SIZE: 22,475 SF
YEAR BUILT: 2003

Highlights

  • Offered for sale at $5,200,000
  • Anchored by Mellow Mushroom
  • Situated on 2.93 acres, zoned General Commercial
  • Built in 2003, this 22,475 SF retail center is 100% occupied
  • Golf cart access via the city's 164-mile network of cart paths
  • Tenant base will benefit from new Fairfield Inn opening May 2017
  • Strong tenants with significant upside in adjusting rental rates to market when leases renew

Description

Bull Realty is proud to offer this retail investment property in the affluent Peachtree City submarket of Atlanta. Wisdom Pointe provides an excellent opportunity for an investor to purchase a retail strip center 100% occupied with strong tenants and is being delivered at a year one cap rate of 7.5%. This property has significant upside by increasing rental rates to market when leases the renew.

Built in 2003, the retail center has been anchored by Mellow Mushroom, that has over 200 locations and occupies 20% of the property. The center has a heterogeneous mixture of retail tenants, consisting primarily of established restaurants including Noche Tacos & Tequilas, Sushi Tomi, Tavern on 74, Grinds & Wines and Mellow Mushroom. The tenant mixture is stable with over 53% of the property leased by tenants who have occupied the property for 10 years or more.

Wisdom Pointe is located in the heart of the retail corridor of Peachtree City and is well positioned with excellent exposure along its major thru fare. The center also has golf cart access via the city’s 164-mile network of golf cart paths. Additionally, the tenant base will soon benefit from the opening of an 84 room Fairfield Inn, which is adjacent to the center and scheduled to open May 2017. With excellent accessibility from Joel Cowan Parkway, the location is frequented by local and transient shoppers. There are 10,691 homes located within a 3-mile radius boasting a $110,968 average household income, which is excellent for retail investment and restaurants.

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