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t r a n s l a t e

South Cobb Shopping Center | 8.2% Cap Rate

2900 South Cobb Dr
Smyrna, GA 30080
PRICE : $4,450,000
CAP RATE: 8.2%
PROPERTY TYPE: Retail
SITE SIZE: 3.95 Acres
BUILDING SIZE: 46,200 SF
YEAR BUILT: 1967

Highlights

  • 46,200 SF neighborhood center on busy South Cobb Drive
  • Minimal management and leasing responsibility
  • Three of five tenants have been in place since 2003
  • Aaron's space is being converted into a corporate training center
  • Abundant parking with approximately 250 spaces (5.5 ratio) across 3.95 acres
  • High visibility with 544' of frontage on South Cobb Drive
  • Corner site with three ingress/egress points
  • Strong traffic count of 26,920 VPD on South Cobb Drive
  • Below market rents allow room for growth
  • 100% occupancy with 60% being national tenants
  • The average lease term has 3 years, 10 months remaining
  • Average tenant has been in place for 9 years, 6 months
  • All of the leases are guaranteed by national or credit tenants with strong financials
  • 0.43 acre outparcel also available for $300,000

Description

Bull Realty is pleased to offer the opportunity to acquire a five tenant neighborhood center on busy South Cobb Drive, inside City of Smyrna's limits. The property itself has abundant parking and great visibility and road frontage for the average daily traffic of 26,920 VPD on South Cobb Drive.

The center comes with very limited management or leasing responsibilities, as three of the four inline spaces are between ± 7,900 - 9,100 SF with tenants that have been in place since 2003. The center also has significant upside with average rent at $9/SF.

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