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Covington Pad to Walmart SuperCenter

$3,745,000

10373 Industrial Boulevard, Covington, GA 30014

Active
Last Updated: 10/06/2025

8,500 sqft

Building Size

0.92 acres

Lot Area

Details:
Building Size:    8,500 sqft
Lot Area:    0.92 acres
Year Built:    2014
Highlights:
  • MATTRESS FIRM (NYSE: SGI) | 2,300+ LOCATIONS | NATIONAL BRAND
  • 100% LEASED 3 TENANT PAD BUILDING | PART OF THE DOMINANT TRADE CENTER IN AREA
  • STRONG CONSUMER DRAW FROM ADJACENT WALMART SUPERCENTER AND HOME DEPOT
  • KNOWN AS “HOLLYWOOD OF THE SOUTH” | HOME TO MAJOR ENTERTAINMENT STUDIOS
  • ORIGINAL TENANTS | RECENT LEASE RENEWALS | 10 YEAR HISTORICAL OCCUPANCY
  • TOP 6 AND 15 PERCENTILE STORE VISITS FOR WALMART AND HOME DEPOT RESPECTIVELY
Description:

BROKER OF RECORD.... NOVAK & ASSOCIATES, INC....License No. 6506

6.65% Cap in Sept 2028 | Annual Rent Increases in 2 of 3 leases | 3 Tenant Pad | All Original Tenants Having Recent Lease Renewals

Faris Lee Investments is pleased to present the opportunity to acquire the fee simple interest (land & building) in a multi-tenant pad building in Covington, GA, a growing suburb 35 miles east of Atlanta. The offering is anchored by Mattress Firm (NYSE:SGI) (2,300+ locations in 49 states). All tenants are original, have occupied the property for 10 years, and have recently renewed their lease. The Property boasts minimal maintenance and expenses obligations with the tenants operating under NNN leases, providing an investor ease of management with the tenants being responsible for taxes, insurance and common area maintenance expenses. More than one-half of the leasable square footage contains annual rent increases while Mattress Firm has their next rent increase in February 2028.

The offering is strategically positioned as an outparcel pad to a successful Walmart Supercenter which per Placer.ai ranks in the top 6 percentile for customer visits of all Walmart stores in Georgia. The drawing power of the Walmart Supercenter combined with visibility and convenient access to Interstate 20 enables the Property to out-position and outperform other multi-tenant properties in the under-supplied Covington retail market. As with most suburbs of Atlanta, Covington is anticipated to continue its strong population growth over the next 10 years. In addition to being home to Cinelease Studios, one of the largest film studios in the country, other major employers include General Mills, Bridgestone Golf, and Bard Medical.

This offering checks all the major boxes for an investor by having long term historical occupancies and a stabilized income stream. The location is strategically positioned to benefit from cross over shopping opportunities created by the adjacent top tier performing Walmart Supercenter while the growing population base will continue to support the tenants and help create appreciating real estate values in the immediate area.

Covington, Georgia, established in 1822, is a city steeped in Southern history and charm, located about 35 miles east of Atlanta. Named for U.S. Army Brigadier General Leonard Covington, a hero of the War of 1812, the city was meticulously planned around a central town square that remains the heart of its community today. Covington’s growth was significantly spurred by the arrival of the Georgia Railroad in 1845, cementing its status as a vital hub for commerce. The city is renowned for its well-preserved antebellum architecture, which has made it a popular filming location and earned it the nickname the “Hollywood of the South.”

Today, Covington’s economy is a dynamic blend of its historic identity and modern industry. The film and television industry continues to be a primary economic driver, with productions like “The Vampire Diaries” and numerous feature films utilizing its scenic backdrop, which boosts local tourism and business. Beyond entertainment, the city has cultivated a diverse economic base with significant investments in advanced manufacturing, technology, and healthcare. This strategic growth, combined with its historic charm and strong community focus, makes Covington an attractive and thriving center for both residents and businesses in the greater Atlanta region.

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