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OM — Carrollton Station, Carrollton GA (Atlanta MSA)

Offering memorandum (JLL) for a 5-tenant retail strip at 1435 US-27, Carrollton, GA, in the Atlanta MSA. Built 2020, 8,100 SF, 100% occupied, priced at $4,800,000 / 6.25% cap on ~$300,000 NOI with a ~5-year weighted-average lease term remaining. This is the multi-tenant example Mike added at the group's request; it carries more management (CAM administration, reconciliations) than absolute NNN but provides tenant diversification. The OM cites a tight 1.8% submarket retail vacancy.

Key Facts

  • Tenants: Five Guys, Diva Nails, Tropical Smoothie Café, Brazilian Body Wax, Pita Mediterranean.
  • 4 of 5 tenants original to property; 92% of income original; 80% national/regional; 100% internet-proof.
  • Combined traffic ~74,500 VPD (HWY 166 + HWY 27); WAVG sales ~$430/SF.
  • Demand drivers: University of West Georgia, Tanner Medical Center, Southwire HQ.
  • ~5-yr WAVG term is the key risk; co-tenancy / termination clauses to verify in actual leases.

See also: Carrollton Station property · Co-Tenancy Risk