HERON BAY RETAIL/PROFESSIONAL CENTER...HERON BAY RETAIL/ PROFESSIONAL CENTER 3342-3436 HIGHWAY 155...

• Prime opportunity to acquire existing high-end retail and professional space along a high growth corridor with significant projected residential growth

• Existing tenant base with sound momentum to reach stabilization within an acceptable time period

• Retail center has established medical practice and strong community bank on each end of the property (not being offered with this sale)

• Owner has the potential to either lease the space and hold for ongoing cash flows or market the individual units for sale

HERON BAY RETAIL/PROFESSIONAL CENTER3342-3436 HIGHWAY 155 S, LOCUST GROVE, HENRY COUNTY, GA 30248

ROBERT K. [email protected]

MAXIMUM ONE REALTOR PARTNERS678.782.5050 ext. 865

LISTING CONTACTS

827 FAIRWAYS CT # 306 • STOCKBRIDGE, GA 30281 | WWW.HOSPITALITYFINANCIALGROUP.COM

CURRENT LEASED UNITS


HERON BAY RETAIL/PROFESSIONAL CENTER

3342-3436 HIGHWAY 155 S, LOCUST GROVE, GA 30248

3432 Highway 155 S - Medical Billing Office (taking the State Farm space) | New 5 year lease starting October 1, 2019 beginning at $2,600 per month year 1 & 2, $2,700 per month years 3 & 4, and $2,800 per month in year 5. Currently being signed.

3434 Highway 155 S - Realtor | $1,425 per month Lease ending December 31, 2019. Has been there 10 years and agreed to another lease at same or higher for 3 years.

3436 Highway 155 S - New Tenant 2 clients of medical billing company | $1,325 per month beginning October 1, 2019 for a 3 year term

3352 Highway 155 S - Nail Salon (existing tenant 10+ years) | $1,325 per month beginning December 2018 for a 3 year term through Dec 2021. Additionally want to expand into unit next door.

3342 Highway 155 S - Hair Salon (new tenant) | April 2019 - December 2020 at $1,325 per month escalating January 2021 - March 2022 to $1,425 per month

3344, 3346, 3348 Highway 155 S - Church | Paid through September 2019 at $3,000 per month escalating October 2019 through February 2020 at $3,600 per month.

Once all tenants are in effective October 2019, total monthly income of $11,000 per month / $132,000 per year less HOA and taxes of $22,745 for these units yields net cash flow of $109,255

FIRST NATIONALBANK OF GRIFFIN

MEDICALBUILDING

REALTOR

STATEFARM

RUBI NAILSSALON

CHANGESHAIR STUDIO

CHURCHU/C VENTUREMEDICAL


PROPERTY ADDRESS VALUATION SQUARE FOOTAGE

2 Developed Commercial Lots $217,700 1.068 acres

3342 Highway 155 S (Hair Salon) $148,752 1,200

3344 Highway 155 S (Church) $148,752 1,200

3346 Highway 155 S (Church) $151,355 1,221

3348 Highway 155 S (Church) $151,355 1,221

3350 Highway 155 S $148,752 1,200

3352 Highway 155 S (Nail Salon) $148,752 1,200

3354 Highway 155 S $103,785 1,221

3356 Highway 155 S $101,235 1,191

3362 Highway 155 S $110,500 1,300

3364 Highway 155 S $110,500 1,300

3366 Highway 155 S $110,500 1,300

3368 Highway 155 S $110,500 1,300

3370 Highway 155 S $165,495 1,947

3428 Highway 155 S (Framed Office) $114,900 1,149

3430 Highway 155 S (Framed Office) $114,900 1,149

3432 Highway 155 S (Medical Billing) $325,713 2,328

3434 Highway 155 S (Realtor) $181,150 1,170

3436 Highway 155 S (Medical Billing) $166,613 1,153

Total $2,831,208

ADDITIONAL INFORMATION

• Commercial Lots Tax Appraised Value $217,700

• 7,254 sf of retail space in Building 1 / 7,147 sf of retail space in Building 2 (after U/C sale)

• 3342 to 3352 valued at listed price of similar space

• 3354 and 3356 valued at price of similar space

• 3362 to 3370 valued at price of similar space

• 3428 and 3430 valued @ $100/sf (framed office space)

• 3432 to 3436 valued at 8 CAP with HOA and Taxes backed out

• 13 additional pads to build on included in land (see illustration 1)

**The information contained herein is believed to be accurate & obtained from reliable sources, no warranty or representation is made. All parties should perform the necessary due diligence to confirm their own satisfaction of investigation**

HERON BAY RETAIL/PROFESSIONAL CENTER

3342-3436 HIGHWAY 155 S, LOCUST GROVE, GA 30248

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HERON BAY RETAIL/PROFESSIONAL CENTER...HERON BAY RETAIL/ PROFESSIONAL CENTER 3342-3436 HIGHWAY 155...

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