FOR SALE 165,500 SQUARE FEET MIXED USE RETAIL/OFFICE ZONED GENERAL COMMERCIAL. 449 Industrial Blvd Ellijay, GA SPRING PLAZA
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1 SPRING PLAZA 449 Industrial Blvd FOR SALE 165,500 SQUARE FEET MIXED USE RETAIL/OFFICE ZONED GENERAL COMMERCIAL
2 INVESTMENT SUMMARY Hudson Commercial is pleased to exclusively present the opportunity to acquire Spring Plaza, a 165,500 sq. ft. mixed-use shopping center located in. Spring Plaza is 79% occupied and has a strong rental history among current tenants. In addition, Spring Plaza has excess land that could potentially be split off and sold as an outparcel. Spring Plaza is ideally located on Industrial Blvd, a primary business thoroughfare in. OFFERING Price: $4,600,000/9.78% Cap Rate Year 1 NOI: $449,843.91
3 Property Specifications: Square Footage: Land Area: 165,500 sq ft Acres Property Address: 449 Industrial Blvd, Access: Year Built: 1970 Years Updated: 1985 & 2006 Ownership: 2 points of access to the property off Industrial Blvd. Fee Simple
4
5 ELLIJAY AERIAL VIEW
6 Investment Highlights: - Healthy rate growth for new owner as rents are currently below market. - Credit tenant DaVita Dialysis with long term lease. - Annual rent increases on majority of current tenants. - Upside in increased occupancy. - Potential to bring in big-box anchor tenant.
7 ject Propertyj 449 Industrial Blvd Overview of Ellijay is nestled in the foothills of the vast Chattahoochee National Forest in the Appalachian Mountain Range about an hour north of downtown Atlanta. Natural beauty surrounds Ellijay, which is a major recreational and getaway destination for many living in the metro Atlanta area, as well as Florida residents with second homes n the mountains. State Route 515 is the primary access to the area from I-575 and Interstate 75, located about 30 minutes south of Ellijay. The city of Ellijay is approximately 75 miles north of the Atlanta Central Business District. Ellijay is expected to remain a favorable location for continued growth for the foreseeable future due to its proximity to metropolitan Atlanta and due to its location in the Appalachian Mountains. There is also a considerable level of industrial, agriculture, and construction industry in the area which provides for a diversified economy. These attributes have contributed to a skilled work force, low unemployment and more stable economy, thus enhancing the area s desirability and quality of life.
8 ject Propertyj 449 Industrial Blvd Growth Patterns / Demographic Trends Growth in the area has been spurred by the continuous northern growth of the metro Atlanta area up I-575, coupled with the resurge in demand for vacation and retirement homes in the area. Ellijay has become the benefactor of a major commercial expansion over the past five years. Ellijay has has undergone significant renovation over the past decade with the addition of new businesses that support the local recreation and mountain life.
9 FEATURED TENANTS At 78% occupied, Spring Plaza has strong local tenant base in the service industry in addition to presence by companies with a broader footprint. Tenants include...
10 Hudson Commercial 449 Industrial Blvd Hudson Commercial, LLC brings years of expertise to the commercial real estate market in Chattanooga. In addition to site selection, sales, leasing and investment real estate, Hudson Commercial delivers comprehensive property management service, offering clients professionalism in all phases of commercial real estate in Chattanooga. The success of Hudson Commercial, LLC is attributed to its team of professionals who know the commercial real estate business in Chattanooga, know the region and market, and understand business needs. With its experience, knowledge and professionalism, Hudson Commercial, LLC has maintained its long-standing reputation for successful partnerships with clients and the community, and is constantly reinforced through networking, excellent representation and confident negotiation. Josh Fox, CCIM, SEC (o) (c)
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