Sims Crossing Shopping Center
Closed2671 Centerville Hwy, Snellville, GA 30078
Property type
Retail
Unit / Space count
1
Price
$1,500,000
Building size
20,000 sf
Rentable area
20,000 SF
Year built
1988
Year renovated
Occupancy
100%
Zoning code
C-1
Lot size
2.70 Acres
Price per Unit
$1,500,000
Price per SF
$75.00
Property description
Franklin Street presents Sims Crossing Shopping Center, a 20,000 SF unanchored center, in Snellville, Georgia. The center provides the investor a great opportunity to increase the NOI through lease-up and increasing below market rents in the center. The majority of the shop tenants are complementary businesses with some daily-use operators. Some of the tenants have rental increases during their initial term and bumps in their option periods to allow for future rent growth. The center has three access points and is located along Centerville/Scenic Hwy 124, which is the main highway between downtown Snellville & Centerville. The dense neighborhood population surrounding the property bodes well for the longevity of the shopping center. Furthermore, the corner lot this property sits on allows for redevelopment opportunities in the future.
Property highlights
- Located in Northeast Atlanta, GA MSA
- Proximate to major national retailers such as Walmart, Kroger, Home Depot, Publix, ALDI
- Strong traffic counts on Centerville Hwy - 27,500 VPD
- Strong Average Household Income within 5 miles - $101,756
- Densely populated suburb of Atlanta - 157,213 within 5-mile radius
- Over $250,000 in recent renovations, including new roof
- More than adequate parking and multiple access points allow for easy ingress & egress to the Center
- Value opportunity in restructuring leases to NNN
- Several tenants have renewed and have been in the center for a while, which shows commitment to the Center