Creekwood Village | 6459 Highway 42
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Creekwood Village 6459 Highway 42
69,798 SF 100% Leased Retail Building Rex, GA 30273 $13,143,089 CAD ($188 CAD/SF) 7.75% Cap Rate
Executive Summary
Creekwood Village Shopping Center (the “Property”), is a grocery-anchored retail neighborhood center totaling 69,778 SF conveniently located in Rex, GA, a part of the Atlanta MSA. The property is stabilized and offers the ability to add value by rolling the below market lease rates to market, develop additional square footage on the inline pad, and potentially create a new outparcel on Macon Highway.
Creekwood Village is a single-story, necessity based, retail neighborhood center situated on 9.2 acres at the SE pin corner of Macon Hwy and Dale Rd (29,390 VPD) just off of exit 2 along interstate Highway 675 (74,100 VPD). The center has three points of ingress/egress at a lighted intersection, and is easily visible in all directions. The property is located just 16 miles Southeast of Atlanta’s CBD along I-675.
The property is anchored by Food Depot, a successful regional grocer operating 42 locations in Georgia and 36 years of company operating history with 34 years tenure
at this location. Food Depot’s current lease term extends to May 2030 with two remaining 5 year options.
Creekwood Village’s tenant mix includes a diverse variety of regional and local retailers, including e-commerce resistant tenants such as Food Depot, Metro PCS, Beauty Town and Urban Pub & Grill.
Area demographics are impressive with 141,490 people within a 5-mile radius and average household incomes over $80,000. The center is centrally located 16 miles Southeast of Downtown Atlanta.
Creekwood Village is a single-story, necessity based, retail neighborhood center situated on 9.2 acres at the SE pin corner of Macon Hwy and Dale Rd (29,390 VPD) just off of exit 2 along interstate Highway 675 (74,100 VPD). The center has three points of ingress/egress at a lighted intersection, and is easily visible in all directions. The property is located just 16 miles Southeast of Atlanta’s CBD along I-675.
The property is anchored by Food Depot, a successful regional grocer operating 42 locations in Georgia and 36 years of company operating history with 34 years tenure
at this location. Food Depot’s current lease term extends to May 2030 with two remaining 5 year options.
Creekwood Village’s tenant mix includes a diverse variety of regional and local retailers, including e-commerce resistant tenants such as Food Depot, Metro PCS, Beauty Town and Urban Pub & Grill.
Area demographics are impressive with 141,490 people within a 5-mile radius and average household incomes over $80,000. The center is centrally located 16 miles Southeast of Downtown Atlanta.
Data Room Click Here to Access
- Offering Memorandum
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Retail
Building Size
69,798 SF
Building Class
B
Year Built
1990
Price
$13,143,089 CAD
Price Per SF
$188 CAD
Cap Rate
7.75%
NOI
$1,018,589 CAD
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.17
Land Acres
9.20 AC
Zoning
GB - General Commercial
Parking
409 Spaces (5.86 Spaces per 1,000 SF Leased)
Frontage
1,261 ft on Branch Drive
Amenities
- Pylon Sign
PROPERTY TAXES
Parcel Number | 12-0120C-00A-001 | Improvements Assessment | $2,202,591 CAD |
Land Assessment | $338,155 CAD | Total Assessment | $2,540,746 CAD |
PROPERTY TAXES
Parcel Number
12-0120C-00A-001
Land Assessment
$338,155 CAD
Improvements Assessment
$2,202,591 CAD
Total Assessment
$2,540,746 CAD
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Creekwood Village | 6459 Highway 42
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