2460-2472 Martin Luther King Jr Dr - Freestanding FOR SALE


Atlanta, GA 30311- Harland Terrace
$3,500,000 USD
404-812-8927
2460-2472 Martin Luther King Jr Dr, Atlanta, GA for Sale
$3,500,000 USD
Freestanding - FOR SALE
1/8
null | 8.35% Cap Rate

2460-2472 Martin Luther King Jr Dr
Atlanta, GA 30311
Harland Terrace


HIGHLIGHTS

  • Located across from the Hamilton E. Holmes MARTA station.
  • Strong tenant mix with many long-standing tenants and additional income from leased billboards.
  • High visibility with 25,640 VPD on Martin Luther King Junior Drive SW, and quick access to I-20 and I-85.
  • Notable redevelopment and investment in the area, including a Microsoft 90 acre campus that would generate 15,000 jobs.
  • Average 1-mile household income of $61,344 and is expected to increase by 22.40% in the next 5 years
  • Densely populated with over 375,000 Daytime population in a 5 mile radius

OVERVIEW

Gordon Plaza is an excellent opportunity for an investor to acquire a fully leased retail property located in a designated qualified opportunity zone. The 20,158 square foot building is situated on 1.548 acres and has 13 current tenants; some of them operating at this location for over a decade. The property is well located with quick access to I-20 and I-285 as well as the Hamilton E. Holmes MARTA station across the street. There is also a newer development next to the MARTA station serving as boutique office and retail incubator space. Microsoft is also developing a massive campus 4 miles from Gordon Plaza. The property was recently painted and the parking lot sealed and striped. This is a growing area located west of downtown Atlanta, with easy access to I-285 and I-20. There are over 200,000 people living within a 5 mile radius, and continuing population growth as new residential developments arise. The property is well located on M.L.K. Jr Dr SW, a 12 minute drive to downtown and a four minute walk to the Hamilton E. Holmes MARTA station. While the immediate area looks to be lower income, there are major developments in process or planned for the area. Microsoft has announced plans to develop 90 acres purchased in recent months near Grove Park roughly 4 miles away from the property. There are also multiple mixed use developments breaking ground or in the pipeline around MARTA stations across Atlanta. As Atlanta continues to expand geographically at record pace, areas inside I-285 will continue to be and grow in demand.

FOR SALE DETAILS

PRICE

$3,500,000 USD

PRICE/SF

$175 USD /SF

CAP RATE

8.35%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Gordon Plaza

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1967

SPRINKLERS

-

PARKING SPACES

50

LAND DETAILS

LAND ACRES

1.54 AC

LAND SF

67,082 SF

ZONING

-

APN/PARCEL ID

14-0205-LL-072-4

ASK ABOUT THIS PROPERTY

Elliott KyleSkyline Seven Real EstateMore Info
404-812-8927

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Elliott KyleSkyline Seven Real EstateMore Info
404-812-8927

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.