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Atlanta MSA Value-Add Retail Center | 8.1% Cap Rate

100-158 Rainbow Way
Fayetteville, GA 30214
PRICE : $2,375,000
CAP RATE: 8.1%
PROPERTY TYPE: Retail
SITE SIZE: 6.90 Acres
BUILDING SIZE: 49,200 SF
YEAR BUILT: 1988

Highlights

  • 49,200 SF five-building, retail/office center
  • 8.1% cap rate / $195,860 NOI
  • Upside through rent increases & lease-up
  • Situated on a ±6.9 acre site
  • Future development/redevelopment potential
  • High visibility monument sign
  • Two points of ingress/egress, one median break
  • 139 parking spaces (2.8/1,000 SF)
  • AAMCO, Dave's Comics and Bruce’s New World Fitness are long-term tenants
  • 30,600 vehicles per day traffic count (GDOT 2018)
  • ± 550’ of frontage on GA Hwy 85
  • CH zoning - Highway Commercial (Fayette County)

Description

Rainbow Center in Fayetteville, GA is a solid, income-producing, multi-tenant, mixed-use property with good exposure, historically strong occupancy and additional future upside for expansion of paved parking, additional building development or redevelopment.

The stabilized, 5-building, single-story retail/office park is situated prominently along Georgia Hwy 84, on an ample ±6.9-acre site. Long-term tenants AAMCO, Dave's Comics and Bruce's New World Fitness are among the many popular, well-known businesses that also include an appliance store, hair salon, vintage/thrift store, non-profit organizations, TV/electronics and health products retailers.

Priced well below replacement cost at $2,375,000 ($48.27/SF), the asset provides stable cash flow and a compelling value-add component in the growing Atlanta MSA. Upside may be achieved through remediation of deferred maintenance, planned capital improvements, and lease-up in order to increase net income through resetting rents ($2-4/SF below market).

The property and businesses benefit from ± 550’ of frontage on GA Hwy 85 with exposure to 30,600 VPD traffic counts. A large monument sign affords additional exposure which may be enhanced through cosmetic updating at minimal expense.

Rainbow Center is offered at 8.1% cap rate on its current 88% occupancy with proforma cap rate of 10% or higher very achievable.

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