6756 Covington Hwy
Lithonia, GA 30058 · Retail For Sale
|Building Size||5,400 SF||Tenancy||Single|
|Price/SF||$470.22||Property on Ground Lease?||Yes|
|Property Type||Retail||Year Built||2007|
|Property Subtype||Retail Pad||Lot Size||1.66 AC|
|Property Use Type||Net Lease Investment with 10+ years left on lease||APN / Parcel ID||16-089-03-014|
|Cap Rate||5%||Parking Ratio||9.26 / 1,000 SF|
|Listing ID: 20392123||Date Created: 06/23/2017||Last Updated: 09/27/2017|
Why buy this deal?
This Wells Fargo is doing over $70M+ in deposits, which is incredibly strong for a bank and has seen continuous growth in past years
This branch is the #1 in terms of the number deposits in all of Lithonia.
Strategic Branch: This location is the result of a consolidation of 3 other branches in the area to create this site as the Regional Financial Center
Rare Escalations: 15% every 5 years | Not only does this provide for a better than market hedge against inflation but it also increases the average cap over the 10 Year Period to a 5.38% at list price.
Absolute NNN Ground Lease
The building is priced at or below replacement cost for a 5,400 SF brick construction bank building, decreasing the probability that they would ever relocate.
Additionally the rent is only $23.51/SF which is significantly below the market average of $39/SF.
Unbeatable Residual Value: Tenant asked landlord to combine two separate outparcels for subject site of 1.66 acres. Giving landlord ability to separate two outparcels in the future providing flexibility. Allows for a wide variety of future redevelopment opportunity
The property is ideally located on Covington Highway (20,000 VPD) situated just east of Atlanta.
Dynamic retail synery with other major tenants including: Kroger, Walgreens, ALDI, AutoZone, Dollar General, Family Dollar, Dollar Tree, Shell, Sonic, and many more
|Collection Street||Cross Street||Traffic Volume||Year||Distance|
|Covington Hwy||Dekalb Medical Pkwy||28,109||2018||0.19 mi|
|Hillvale Rd||Covington Hwy||2,060||2015||0.40 mi|
|Covington Hwy||Wellington Walk Pl||21,084||2018||0.57 mi|
|Poplin Ct||Quilt Ct||763||2018||0.91 mi|
|Corners Cir||Corners Circle Trce||276||2018||0.91 mi|
|Hillandale Dr||Hillandale Park Dr||9,516||2018||0.92 mi|
|I- 20||Lithonia Industrial Blvd||13,944||2018||0.94 mi|
|I- 20||Lithonia Industrial Blvd||108,956||2018||0.97 mi|
|I- 20||Fairington Rd||13,027||2018||0.97 mi|
|I- 20||Fairington Rd||116,668||2018||0.99 mi|
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