Acworth Crossings

3335 Cobb Parkway Northwest, Acworth, GA

$16,382,000

Price

7.5%

Cap Rate

$1,310,709

NOI

Overview
Cap Rate
7.5%
NOI
$1,310,709
Pro Forma Cap Rate
9.03%
Building Size
120,829 sqft
Occupancy
90%
Year Built
2006
Price Per Sqft
$135.58
Tenancy
Multiple
Description

The offering presents an opportunity for an investor to acquire an 90% occupied, 120,829 SF add value regional shopping center with a strong national tenant presence in an affluent Atlanta suburb. An investor can achieve long-term upside through lease-up of the existing vacancies in an area surrounded by residential developments in a key commuter location. The existing tenants all have long occupancy histories with regularly scheduled rent increases, allowing for additional income growth over time.

The subject property is a net leased shopping center in Acworth, GA, with a wide range of internet resistant tenants backed by a strong core group of anchors. Acworth is part of the Atlanta MSA, and is located 30 miles from downtown Atlanta. The center is anchored by four strong, national, corporate tenants: PetSmart, Michael’s, Best Buy, and Dollar Tree. The rest of the center is occupied by a mix of retail, restaurant, and service based tenants. The retail synergy created by the wide diversity of uses and the strong anchor tenants creates a powerful pull of customers into the center. It is surrounded by other significant retailers, across the street from a Super Target and Kohl’s, and adjacent to Home Depot, attracting even greater amounts of consumers to the area.

IN CONJUNCTION WITH
GA LICENSED BROKER:
Steve Miller
Miller Realty Services, Inc.
smiller@millerrealtyservices.com
(770) 409-0266

Highlights
  • Significant upside through lease-up of vacant space
  • Nationally branded anchors in affluent Atlanta suburb
  • All anchors and nearly all shops are on net leases
  • Regularly scheduled rent increases on anchor tenants, creating lift in existing income stream
  • Diverse tenant roster of internet resistant retailers
  • Excellent visibility with significant frontage along Cobb Pkwy, which sees traffic counts over 30,000 VPD
Documents

Location
Gallery