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Mountain Brook Retail Center 2260 Holly Springs Pkwy, Canton, Georgia, 30115

 
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Verified : 2/1/2016 Sold

Mountain Brook Retail Center 2260 Holly Springs Pkwy, Canton, Georgia, 30115

$1,740,000.00   / ForSale

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Property Highlights

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$1,740,000.00
Sale Price:
$1,740,000.00
Price/SF:
Unlisted
CAP Rate (%):
8
NOI:
Unlisted
Net Lease:
Unlisted
Gross Leasable Area (SF):
12,000
Total Lot Size (SF):
43,560
Occupancy (%):
90
Population Range:
Unlisted
Household Income:
Unlisted
Traffic Counts:
Unlisted
County:
Unlisted
Zoning:
Unlisted
Market:
Unlisted
Submarket:
Unlisted
Lot:
Unlisted
Block:
Unlisted
Bldg. Size:
Unlisted
Net Rental Area:
Unlisted
Number Of Floors:
Unlisted
Number Of Units:
Unlisted
Year Of Build:
Unlisted
Year Of Renovation:
Unlisted
Vacant SF:
Unlisted
Price/SF:
Unlisted
Parcel Number:
Unlisted
Tenancy Type:
Unlisted
Construction Status:
Unlisted
Construction Type:
Unlisted
Sprinkler:
Unlisted
Owner Occupied:
Unlisted
Parking Ratio:
Unlisted
Parking Cost:
Unlisted
Mass Transit:
Unlisted
CAM:
Unlisted
Utilities:
Unlisted
Price Per Acre:
Unlisted
Divisible:
Unlisted
Divisible Min:
Unlisted
Divisible Max:
Unlisted
Property Taxes:
Unlisted

Property Description

This offering is a 90% occupied retail center of 12,000 GLA in the affluent north Atlanta suburb of Canton ($94,000 HH Income within 5 Miles). It is a quarter mile from a newly opened Walmart Supercenter of 183,000 SF. The 7 Tenant center is 35% occupied by national tenants (Pizza Hut, Orkin). Additionally, over 60% of the Tenant’s have been at this center for 8 plus years. The site has excellent access and visibility on Holly Springs Pkwy (20,000 cars per day) just off Interstate 575 (60,000 cars per day). In addition to the new Walmart, a 30,000 SF shadow center was also developed with NNN rents averaging $20 to $24 PSF. Mountain Brook Retail Center has rents averaging $14 PSF and not all leases are NNN, leaving significant upside for a new investor (Proforma Cash Flow over 17% - see the Financial Summary page for more details).

Location Description

Mountain Brook Retail Center is ideally and strategically located just off Interstate 575 approximately 40 minutes north of downtown Atlanta, on the line between Canton and Holly Springs. It is located in Cherokee County, which has been ranked one of the fastest growing counties in the nation by the US Census and Atlanta Business Chronicle, and averages 10% business growth annually. There are over 88,000 people within 5 miles of this site with an average HH Income over $94,000. As mentioned above, the center is less than a quarter mile from a new 183,000 SF Super Walmart. Within a 2-mile radius of the property, the new 66,000 SF indoor/outdoor Cherokee Aquatic Center recently opened, and is expected to bring over 20,000 visitors per year. Within a 5-mile radius of the property, the major developments of The Outlet Shoppes of Atlanta (a 370,000 SF outlet mall), Canton Marketplace (a 750,553 SF regional power center), and the new Northside Hospital Cherokee (a 300,000 SF facility) are currently in various stages of development.

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