Asking Price: $3,000,000
Building Size: 40,680 SQ FT
Cost per Square Foot: $73.75
Opportunity to acquire a 40,680 SF retail/office value-add center on 4.55 acres in Fayetteville, GA. This property is well-located on a signalized intersection on Hwy 85. The center has three separate multi-tenant buildings and one single tenant restaurant building.
Fayette Place is a fully-occupied center with current month-to-month tenants. There are two restaurants with strong occupancy history. The center provides an 8% cap rate at acquisition with a significant upside potential in higher rents, redevelopment or simple renovations. Current rents for Fayette Place average at $7/SF compared to the submarket averages of approx. $12/SF.
The property is well-located in Fayetteville, Georgia, a 15-minute drive time to the world’s busiest airport – Hartsfield-Jackson International Airport. Fayetteville is known for its historic charm, community activities and events, high quality neighborhoods and school system and outstanding medical facilities. Fayetteville is home to Pinewood Atlanta Studios, Piedmont Fayette Hospital, Fayette Pavilion as well as numerous other firms and most major retailers.
Key Points: 40,680 SF retail/office center in Fayetteville, GA Four buildings that include a single tenant restaurant building ± 4.55 acres with over 200 surface parking spaces 8% cap rate on existing under-market rents Signalized corner intersection just off Hwy 85 Below replacement cost at $73/SF Two additional 100% occupied out parcels available separately