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Smyrna Shopping Center | User or Investor Sale | 20k SF Available | Proforma 10% Cap

2900 South Cobb Dr
Smyrna, GA 30080
PRICE : $3,750,000
CAP RATE: 10%
PROPERTY TYPE: Retail
SITE SIZE: 3.95 Acres
BUILDING SIZE: 45,100 SF
YEAR BUILT: 1967

Highlights

  • 45,100 SF neighborhood center on busy South Cobb Drive
  • Three of four suites leased. All-in rates on leased suites average $10.39
  • Below market rents allow a buyer significant margin to add value
  • Fourth suite, 45% of the center at 20,099 SF, available for lease or for owner-occupant
  • Proforma 10% cap rate at $3,750,000 sale price by leasing the single vacancy at an all-in rate of $8.80/sf and contributing $100,000 in TI. No accounting for increasing rents on other suites with this proforma 10% cap.
  • Relatively light management/leasing responsibilities on center this large with only four large suites
  • High visibility with 544' of frontage on South Cobb Drive
  • Corner site with three ingress/egress points
  • Abundant parking across ± 2.58 acres
  • ± 0.90 acre out-parcel available for additional $375,000
  • Strong traffic count of 26,920 VPD on South Cobb Drive

Description

Bull Realty is pleased to offer the opportunity to acquire a four tenant neighborhood center on busy South Cobb Drive, inside City of Smyrna's limits. The property itself has abundant parking, great visibility, frontage, with strong traffic counts of 26,920 VPD on South Cobb Drive, and monument sign visibility. This offering enables both users and investors the opportunity to acquire appreciating real estate with a Smyrna address at a very low price per SF.

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