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t r a n s l a t e

Sterling Pointe | Hyper-Core Center Near Perimeter Mall | 6.2% Cap Rate

4595 Ashford Dunwoody Road NE
Dunwoody , GA 30346
PRICE : $5,170,000
CAP RATE: 6.4%
PROPERTY TYPE: Retail
SITE SIZE: 0.20 Acres
BUILDING SIZE: 6,524 SF
YEAR BUILT: 2016

Highlights

  • National-credit tenant lineup with corporate guarantees
  • Long-term NNN leases that reimburses operating expenses
  • Weighted Average Lease Term (WALT): 6+ years
  • Tenants include Sleep Number and My Eyelab
  • Scheduled rent increases and has built-in renewal options
  • Very minimal Landlord responsibilities or expense risk
  • Tax Rebate available to buyer until 2026

Description

Sterling Pointe is a class “A” hyper-core retail center available for sale at $5,170,000, which is a 6.4% cap rate based on year-1 scheduled rents. This property has an excellent location on two parcels fronting Ashford Dunwoody Road, and is located adjacent to Perimeter Mall, one of the premier malls in the Southeast that includes over 1.5 million SF.

This ± 6,524 SF, recently built, retail center is part of the Sterling Pointe development that includes Zinburger, Hampton Inn (132 rooms) and two office towers (± 430,000 SF). The retail center fronts Ashford Dunwoody Road and is situated on ± 0.2 acres with a pro rata interest in the parking lot for a total site area equaling ± 1.7 acres, plus an easement to use the shared ± 1.7-acre parking lot and deck parking is also available.

This retail center is located in the largest office submarket in all of Atlanta as well as a very dense retail submarket. Dunwoody has some of the strongest demographics in Atlanta averaging approximately $130,000 annual income.

The property offers an investor a low maintenance asset where each of the two leases reimburse fully for CAM, taxes, insurance, management and administration fees. The remaining lease terms range from 5-7+ years with an average of six years remaining on the initial lease term. Rent increases are scheduled every five years and each lease has built in renewal options. The property owner will also benefit from a tax rebate until 2026.

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