Eagle Village Shopping Center
Closed600 Eagles Landing Parkway, Stockbridge, GA 30281
Property type
Retail
Unit / Space count
14
Price
$4,980,000
Building size
21,589 sf
Rentable area
21,589 SF
Year built
2002
Year renovated
Occupancy
Zoning code
Lot size
2.58 Acres
Sold/status
Sold · Date unknown
Sale price
$4980000
CAP
6.22%
Net Operating Income
$309,574
Property description
Franklin Street is pleased to present Eagle Village shopping center in Stockbridge, Georgia. Stockbridge is a southern Atlanta suburb less than 20 miles from Downtown Atlanta with easy access off I-75. Eagle Village is a highly visible asset located along Eagles Landing Parkway with 34,500 VPD. The Eagles Landing Parkway corridor has seen tremendous growth over the last fifteen years and is now home to the newly expanded Piedmont Henry Hospital (215 beds). In addition, Eagle Village is located proximate to Eagles Landing, a 3,000 acre, master-planned community which includes quality homes, golf, office/retail space, and light industrial and distribution facilities. The tenant lineup of Eagle Village is primarily made up of national names, with a large tenant base that has been in the center for more than 5 years. With average rents in the mid-teens PSF, an investor should have an opportunity to raise rents during their ownership with most competing centers asking ~$20 PSF and many new construction strip centers achieving upper $20s to low $30s PSF.
Property highlights
- 100% leased stabilized retail strip center on strong corridor in Atlanta MSA with drive thru end caps
- Located proximate to the Piedmont Henry Hospital and just 1.25 miles east of the I-75 exit
- Many long term tenants with 5+ years of occupancy in their spaces
- Market rents in the mid-teens PSF: opportunity for rental appreciation as leases expire
- Excellent frontage on Eagles Landing Parkway with 34,500 VPD
- Proximate to Eagles Landing, a 3,000 AC master-planned community which has high end homes, golf, retail, office, and light industrial space
- Rapidly growing area: 1.8% annual growth expected
- Affluent southern Atlanta suburb: $90,000+ household incomes within the 3 mile radius
- Strong tenant mix of daily use retailers primarily made up of national tenants
- Offered free and clear of debt