Shopping Strip
Paradise Shoppes of Monroe
1986 W Spring St, Monroe, GA 30655
Listing Price: $8,250,000
Investment Overview
Paradise Shoppes of Monroe is a 23,500 square foot class A neighborhood retail center positioned at the major intersection of Highway 138 and West Spring Street - just south of Highway 78, a main travel artery from Atlanta to Athens. The immediate area features destination tenants such Walmart Supercenter, Home Depot, Piedmont Walton Hospital and others. The retail trade area attracts both resident and transient customers as evidenced by 15.2+ million foot traffic visits over the last 12 months within a 0.5 mile radius. Directly adjacent to the subject property is a high volume Chick-fil-A that sees on average over 100k visits per month.
The subject property consists of two separate parcels. Parcel A features a 5,300 square foot freestanding building anchored by Truist Bank and Moe's Southwest Grill. Both end cap spaces allow for full drive through capability with Moe's SW Grill utilizing dedicated patio space. Parcel B features a 18,200 square foot inline retail building featuring regional tenants such as Little Caesar's, Shane's Rib Shack, Tokyo Sushi & Hibachi and Smoothie King. The west end cap of the building has previous approval for use as a drive-through. There is an additional 0.37 acre vacant pad between Starbucks and Chick-fil-A that is included in the sale and currently not being utilized.
Paradise Shoppes of Monroe
Investment Highlights
- Dominant Class A Neighborhood Strip Center in Rapidly Growing Atlanta MSA Submarket | Adjacent to Walmart Supercenter, Home Depot, Piedmont Walton Hospital and Chick-fil-A
- Premiere Exposure and Visibility at Major Intersection of Highway 138 and West Spring Street | Just South of Highway 78 - Main Travel Artery from Atlanta to Athens
- 15.2+ Million Foot Traffic Visits Over Past 12 Months Within 1/2 Mile Radius of Subject Property | Adjacent Chick-fil-A Averages Over 100k Visits Per Month (AlphaMap June 2023)
- Mix of National, Regional & Local Tenants | Parcel A Features 5,300 SF Freestanding Building with Dual Drive Thru - Truist Bank & Moe's Southwest Grill | Parcel B Features a 18,200 SF Inline Retail Building
- Explosive Population Growth - 18.9% Since 2010 and Over 5% Since 2020 | Demographic Reflective of Atlanta MSA Shift from Central Business Districts
- Fully NNN Leases - Includes Management Fee Reimbursement - 3% Annual Rent Increases for Most Tenants
- Truist Bank Deposits $87.4M - 15 Year Operating History - Recent 5 Year Lease Extension | Moe's SW Grill Ranks 13 of 95 in GA & Shane's Rib Shack 7 of 56 Nationwide (Unacast June 2023)
- Class A 2008 Construction | Brick and Stone Exterior | Abundant Parking -7.96 per 1,000 SF Parking Ratio | 6.91 Acre Total Land | Offering Includes 0.37 Acre Pad Between Starbucks and Chick-fil-A Parcels
Exclusively Listed By
Financing By
Listing Price: $8,250,000
Investment Highlights
- Dominant Class A Neighborhood Strip Center in Rapidly Growing Atlanta MSA Submarket | Adjacent to Walmart Supercenter, Home Depot, Piedmont Walton Hospital and Chick-fil-A
- Premiere Exposure and Visibility at Major Intersection of Highway 138 and West Spring Street | Just South of Highway 78 - Main Travel Artery from Atlanta to Athens
- 15.2+ Million Foot Traffic Visits Over Past 12 Months Within 1/2 Mile Radius of Subject Property | Adjacent Chick-fil-A Averages Over 100k Visits Per Month (AlphaMap June 2023)
- Mix of National, Regional & Local Tenants | Parcel A Features 5,300 SF Freestanding Building with Dual Drive Thru - Truist Bank & Moe's Southwest Grill | Parcel B Features a 18,200 SF Inline Retail Building
- Explosive Population Growth - 18.9% Since 2010 and Over 5% Since 2020 | Demographic Reflective of Atlanta MSA Shift from Central Business Districts
- Fully NNN Leases - Includes Management Fee Reimbursement - 3% Annual Rent Increases for Most Tenants
- Truist Bank Deposits $87.4M - 15 Year Operating History - Recent 5 Year Lease Extension | Moe's SW Grill Ranks 13 of 95 in GA & Shane's Rib Shack 7 of 56 Nationwide (Unacast June 2023)
- Class A 2008 Construction | Brick and Stone Exterior | Abundant Parking -7.96 per 1,000 SF Parking Ratio | 6.91 Acre Total Land | Offering Includes 0.37 Acre Pad Between Starbucks and Chick-fil-A Parcels
Investment Overview
Paradise Shoppes of Monroe is a 23,500 square foot class A neighborhood retail center positioned at the major intersection of Highway 138 and West Spring Street - just south of Highway 78, a main travel artery from Atlanta to Athens. The immediate area features destination tenants such Walmart Supercenter, Home Depot, Piedmont Walton Hospital and others. The retail trade area attracts both resident and transient customers as evidenced by 15.2+ million foot traffic visits over the last 12 months within a 0.5 mile radius. Directly adjacent to the subject property is a high volume Chick-fil-A that sees on average over 100k visits per month. The subject property consists of two separate parcels. Parcel A features a 5,300 square foot freestanding building anchored by Truist Bank and Moe's Southwest Grill. Both end cap spaces allow for full drive through capability with Moe's SW Grill utilizing dedicated patio space. Parcel B features a 18,200 square foot inline retail building featuring regional tenants such as Little Caesar's, Shane's Rib Shack, Tokyo Sushi & Hibachi and Smoothie King. The west end cap of the building has previous approval for use as a drive-through. There is an additional 0.37 acre vacant pad between Starbucks and Chick-fil-A that is included in the sale and currently not being utilized.
Exclusively Listed By
Financing By
