2544 McClave DR - LoopNet · 2020. 6. 30. · 2544 McClave DR Doraville, GA 30340 8,938 SF...
Transcript of 2544 McClave DR - LoopNet · 2020. 6. 30. · 2544 McClave DR Doraville, GA 30340 8,938 SF...
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2544 McClave DR Doravi l le, GA 30340
8,938 SF MULTI-TENANT OFFICE INVESTMENT IN DORAVILLE
Song Kil │ (470) 781-6589 │ [email protected]
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INVESTMENT HIGHLIGHTS
INVESTMENT OVERVIEW
Type: Office Bldg. (Former hotel)
Year Built: 1987 Units: 35 Lot Size: 0.38 Acres Zoning: C2 Construction: Masonry Lease Term: Gross
PRICE: $888,000 │ CAP RATE: 9.4 %
79% Occupancy (separate 35 Units, 26 units occupied) Current rent is under market rental rates (Did not increase the rent for last 10 years) Long term tenants (with annual lease renewal) Convenient to major highways (I-85 & I-285) Located in major redevelopment project area Nearby shopping malls and established markets
The subject property is a 8,938 SF multi-tenant office center in a busy area of Doraville/Chamblee. Located in a region of tremendous economic redevelopment and high population growth, this property is an excellent investment opportunity and features great upside potential. Tenants are the established local businessmen and mostly have been leasing over 5 years. Ideal for any Owner/User or any savvy investor to add value by leasing up the vacant units. High visibility and great location for offices, wholesale and retail distribution.
Building: 8,938 SF (7,677 SF Rentable Space) Floors: 2 Unit Size: 199 – 239 SF. Parking: 35 Parcel ID: 18 297 10 026 Sprinkler & HVAC: All units Tenancy: Multiple
PROPERTY DETAILS
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AREAL MAPS
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Subject Property
AREAL MAPS
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LOCATION MAP
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PROPERTY SURVEY
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FLOOR PLAN
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PHOTOGRAPHS
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PHOTOGRAPHS
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FINANCIAL SUMMARY
Financial Price: $888,000 Gross Income: $111,900 Expenses: ($28,692) Taxes $7,661 Insurance $2,256 CAM Water & Sewer $4,010 Electricity $10,519 Waste $1,846 Repair $2,400 Net Operating Income $83,208 Current CAP: 9.4% Cost per Gross SQ Ft: $99
Loan Information Loan below is proposed for cash flow purposes; Buyer may obtain new loan or pay all cash. 1st Loan Amount (30% Down): $621,600 Interest Rate: 5.25% Amortization: 25 Term: 3 Monthly Payment: $3,693 Loan Payments $44,311 Pre-Tax Cash Flow $38,897 (14.6%) Plus Principal Reduction $12,252 Total Return Before Taxes $51,149 (19.2%)
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RENT ROLL (Year 2019)
Suite # Tenant SF Lease Start Lease Term Monthly Rent
Annual Rent Security Deposit
101, 115-117 Liu’s Chinese Medicine 940 2004 Annual $1,300 $15,600
102, 104 Yankson Clothing 464 2015 Annual $700 $8,400 $350
103 Herbalife 232 2010 Annual $400 $4,800 $400
105-106 Land Hope Times Chinese News Agency 464 2010 Annual $650 $7,800 $400
107-108 Lilia Peruvian Grocery 471 2010 Annual $600 $7,200
109 Vacant 205
110 Jorge Rincon Cardona - Taro 199 2018 Annual $300 $3,600 $300
111 Vacant 199
112 Vacant 199
113 Vacant 199
114 Vacant 199
201 ITC Sales Llc 239 2015 Annual $425 $5,100
202 Sonia’s and Barberia 232 2017 Annual $400 $4,800 $400
203 Los Primos Taxi 232 2011 Annual $400 $4,800 $400
204 Linton’s Tax Service 232 2018 Annual $400 $4,800 $400
205 Atlanta Express Taxi 232 2015 Annual $400 $4,800 $400
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RENT ROLL (Continued)
Suite # Tenant SF Lease Start Lease Term
Monthly Rent
Annual Rent Security Deposit
206 New Tenant (Business Office) 232 2019 Annual $400 $4,800 $400
207 New Tenant (Taxi Biz) 232 2020 Annual $400 $4,800 $400
208 Naverez Insurance 232 2005 Annual $400 $4,800 $400
209 Nutrition & Salud 239 2010 Annual $400 $4,800 $400
210 Vacant 205
211 Padillar Nail Shop 199 2019 Annual $400 $4,800 $400
212 Vacant 199
213 Atlanta’s Best Realty 199 2019 Annual $350 $4,200 $350
214 Vacant 199
215 Vacant 199
216 Meximund Taxi 199 2005 Annual $400 $4,800 $400
217-218 Global Accounting 404 2010 Annual $600 $7,200 $450
Total 35 units 7,677 SF $9,325 $111,900 $6,250
Occupied: 26 units 6,078 SF (79%)
Vacant: 9 units 1,599 SF
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AREA DEVELOPMENT
Parkview on Peachtree is a mixed-use retail, restaurant, office and residential development in the Chamblee/Brookhaven area.
The development consists of approximately 40,000 SF of street-front boutique shops, casual cafes and restaurants, 14,000 SF of loft office space, and 503 planned luxury multifamily units (303 units in Phase I, and approximately 200 in Phase II).
The property is located at the intersection of Peachtree Boulevard and Clairmont Road.
Parkview on Peachtree
Peachtree Station / Retail Center
Peachtree Station is fully leased Wholesale Foods-anchored neighborhood shopping center located in Chamblee.
Restaurants include Zoes Kitchen, Taqueria del Sol, First Watch, Mod Pizza, Chipotle, Starbucks, Menchie’s Frozen Yogurt.
Retails include Cook’s Warehouse, Banfield Pet Hospital, Club Pilates, Das Outfitters, Dentists of Chamblee, Great Clips, Pearle Vision and Verizon.
Within close proximity of Parkview on Peachtree.
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AREA DEVELOPMENT
Assembly Yards is a 10 million SF redevelopment of the former General Motors Assembly Plant on 165 acres.
Upon completion, the multi-billion, multi-phased Assembly Yards will encompass more than 10 million SF of multifamily housing, corporate office space, creative office space, dining, retail, hotel, park and entertainment.
Home of Third Rail Studios, a film and television production studios.
The first set of retail openings is slated for the first quarter of 2021 and will continue rolling open through 2022.
Assembly Yards
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For additional information, please contact: Song Kil Broker (w) (470) 781-6589 (C) (770) 613-1266 [email protected] PEACHHOME REALTY, LLC 320 Town Center Ave Suite C11, #244 Suwanee, GA 30024
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