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Gwinnett Music Center 4615 Stone Mountain Hwy

4,465 SF 100% Leased Retail Building Lilburn, GA 30047 $1,510,031 CAD ($338 CAD/SF) 6.56% Cap Rate

Executive Summary

The one-of-a-kind Lucerne Lake-front property is a freestanding +/- 4,456/sf building on 2.06 acres with
approximately +/-.75 usable acres. The C-2 zoned (Gwinnett County) property is on a 40-acre private lake,
12 miles from Atlanta, 3 miles to booming Snellville, with sewer and three retail suites including the 2nd
floor Coffee-Cafe, 1st floor Music School space and a private office. Located on one of the busiest streets
in Metro-Atlanta with 72,600 cars per day, this high-visibility destination site is truly an irreplaceable
property.
The building, formerly a house built in 1938, has been renovated several times as needed throughout the
years. The Owner acquired the property in 1996 and renovated the 1st floor to be a Music School; it
includes a reception area, 9 offices, 2 restrooms (with plumbing for another) and remodeled the rear part
of the building as a separate “full suite” overlooking the lake, with kitchen, full restroom and separate
entrance.
Starbucks renovated the coffee shop in 2001 prior to moving in, and minimal renovations were done in
2010 prior to Alcove Coffee Cafe moving in.
Cap Rate increases to 6.97% in June 2025. Value add potential: Opportunity to increase the Coffee/Café space rent in 2+ years at lease renewal and/or with a new Café tenant open evenings with “Happy Hour,” serving beer, wine, appetizers, and taking full advantage of the gorgeous sunsets and wildlife, including ducks, turtles, hawks and herons.

Property Facts

Sale Type
Investment
Property Type
Retail
Property Subtype
Freestanding
Building Size
4,465 SF
Building Class
B
Year Built
1982
Price
$1,510,031 CAD
Price Per SF
$338 CAD
Cap Rate
6.56%
NOI
$99,058 CAD
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Building FAR
0.05
Land Acres
2.07 AC
Zoning
C2, Gwinnett County - Commercial
Parking
35 Spaces (3.06 Spaces per 1,000 SF Leased)
Frontage
204 ft on Stone Mountain Hwy

Amenities

  • Signage
  • Listing ID: 33582908

  • Date on Market: 2024-10-21

  • Last Updated:

  • Address: 4615 Stone Mountain Hwy, Lilburn, GA 30047

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