8500 Dr M L King Jr Ave - Freestanding FOR SALE


Covington, GA 30014
$3,677,000 USD
415-481-0788
8500 Dr M L King Jr Ave, Covington, GA for Sale
$3,677,000 USD
Freestanding - FOR SALE
1/5
null | 6.65% Cap Rate

8500 Dr M L King Jr Ave
Covington, GA 30014


HIGHLIGHTS

  • New 10-year net lease with five (5) five-year option periods
  • Scheduled approximate 10% rental increases every five (5) years in option periods
  • Harbor Freight Tools has been named to the 2023 list of Fortune’s Top Ten Best Workplaces in Retail, the only tool retailer to land in the top ten
  • New high-quality 2024 construction built to latest Harbor Freight Tools prototype
  • Area Development ranked Georgia the top state for doing business for the 7th year in a row

OVERVIEW

High-visibility and easily accessible location near the signalized four-way intersection of State Route 36 and U.S. Route 278 (combined 56,000 AADT) The property is immediately surrounded by mission critical industrial space Trophy location just south of Interstate 20, a major east-west route traversing the entirety of Georgia that allows the site to capture significant commuter traffic (80,000 AADT) Prime setting two miles from Covington Town Center, a new 180-acre mixed-use development including a medical office building, 350 apartment units, 270 townhomes, and a 175,000-SF retail center anchored by Publix Upon completion, Covington Town Center will attract an estimated 34,000 unique visits per day One mile from Piedmont Newton Hospital (739 employees), the second-largest employer in Covington 273,956 residents live within fifteen miles of the property, providing an extremely large customer base for the site Excellent average annual household income of $98,908 within a fifteen-mile radius of the site Projected population and income increases within 5-, 10-, and 15-mile radii over the next five years poise Harbor Freight Tools and Covington for steady concurrent growth Gateway to Downtown Atlanta, the most populous city in Georgia (498,715 residents), and part of the ninth-largest metro area in the U.S. (over six million people)

FOR SALE DETAILS

PRICE

$3,677,000 USD

PRICE/SF

$245 USD /SF

CAP RATE

6.65%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Harbor Freight Tools

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2024

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

3.86 AC

LAND SF

168,142 SF

ZONING

-

APN/PARCEL ID

C002000030001B00

ASK ABOUT THIS PROPERTY

Michael YurasCushman & WakefieldMore Info
415-481-0788

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Michael YurasCushman & WakefieldMore Info
415-481-0788

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