Fully Renovated 3-Tenant Neighborhood Retail Building Intown Atlanta | Summerhill Neighborhood

112 Ormond Street Southeast Atlanta, GA 30315

112 Ormond Street Southeast, Atlanta, GA, 30315
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FOR SALE
Property Type:
Free Standing Building
Amount:
$2,485,000
Last Verified:
Apr 17, 2024

Highlights

  • Building and Property
  • Three-tenant neighborhood restaurant and retail building
  • 2019 conversion from dated grocery store to three-tenant restaurant and retail space
  • Gut renovation included new roof, 3 RTU HVACs, grease traps, storefronts, parking lot, plumbing, electrical, etc.
  • Water is sub-metered and gas/electric are individually metered
  • 6,828 Gross SF | 6,303 Leasable SF including patio
  • 15 off-street parking spaces and free street parking
  • Future potential to develop or otherwise monetize parking lot due to no parking requirements
  • Location
  • Located in flourishing Summerhill neighborhood of Atlanta
  • 8 Minute (0.4 mile) walk north to famous Georgia Ave and Center Parc (Georgia State University) Stadium
  • 16 Minute (0.8 mile) walk north to new (2023) Publix and future location of Georgia State Baseball & Softball
  • 6 Minute (1.5 mile) drive north to Downtown Atlanta
  • 20 Minute (1.0 mile) walk south to Southside Beltline
  • 16 minute (10 mile) drive south to Hartsfield Jackson Atlanta International Airport
  • ±2,572 multifamily units delivered within 1 mile of Summerhill since 2020
  • Center of a thriving neighborhood!
  • Tenant and Leases
  • Thriving tenants include two restaurants and a gym
  • All businesses operated by experienced entrepreneurs and loved by the community
  • Tenant Talat Market is a finalist for James Beard Award Best Chef: Southeast, “one of the highest honors for the American restaurant industry”
  • Weighted average lease term (WALT) on July 1st, 2024 is 47 months
  • Triple net (NNN) leases call for full expense reimbursement
  • Extremely limited landlord responsibilities
  • Below-market average base rents of $23.85/SF allow for growth as leases turn over

Description

Fully Renovated 3-Tenant Neighborhood Retail Building Intown Atlanta | Summerhill Neighborhood

Atlanta, GA


Year Built: 1967
Building Size: 6828sq ft
Building Class: C
Lot Size: 0.28 acres


Documents

Offering Memorandum

Map of 112 Ormond Street Southeast, Atlanta, GA, 30315

Presented by:
Bull Realty

Request additional information
Andy Lundsberg


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What are Real Estate Incentives?

Real Estate incentives range widely and have been overlooked by the Commercial Multiple Listing Services (MLS) for decades. Real estate incentives is a generic term used to group any number of programs, such as tax incentives, that are designated by an agency for a geographic area."

Why are Real Estate Incentives Important and to Whom?

"Incentives" are vital today and in the future because:

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