Office Supply

Office Depot | Atlanta MSA

Listing Price: $3,800,000

Cap Rate
6.26%
Tenant Name
Office Depot, Inc.
Years Remaining On Lease
0.90
Gross SF
20,509
Guarantor
Corporate Guarantee
Rentable SF
20,509
Price/Gross SF
$185.28
Lease Type
Double Net
Rent Per Square Feet
$11.60

Investment Overview

Marcus & Millichap is pleased to present to qualified investors, an Office Depot located at 3480 Mount Zion Rd. in Stockbridge Georgia part of the Atlanta Metropolitan Area. The subject property is 20,509 square feet on 2.42 acres on a double net lease with Office Depot, Inc. with approximately one year and eight months left on the remaining lease term with one last five year option to extend until 2026. Office Depot (ODP) is the second largest office supply retailer in the U.S. operating approximately 1,275 stores. The company operates through three reportable segments: Retail, Business Solutions and CompuCom. The BSD, retail and CompuCom segments generate revenues of approximately, $5.1 billion, $4.9 billion and $1.0 billion, respectively. The CompuCom segment was formed as a result of the acquisition of CompuCom Systems, Inc. (CompuCom) during the fourth quarter of 2017. The company sells through multiple channels, consisting of retail stores, a business to business sales force, internet sites, an inside sales organization, direct marketing catalogs and call centers, all supported by a network of supply chain facilities and delivery operations.

Office Depot benefits from its extensive store network that can be leveraged to provide more services to small and medium business, drive demand and retention and thereby differentiate Office Depot from online competitors. Additionally, the company has good liquidity to support the investment needed to transform the business and is expected to continue its historically prudent balance sheet management. The company generates positive free cash flow and maintains large cash balances which gives it the financial flexibility to support its transformation.

The property presents itself as a highly functional commercial development site that is well positioned to receive significant interest from Investors and Developers alike. The property may be repositioned and converted into a wide variety of creative and flexible uses including Retail, Office, Hotels (With Variance), Drug Stores, Banks, Grocery Stores and much more. Investors can receive short term income in the interim while consulting with the City of Stockbridge with their new development plans.

The subject property is an excellent opportunity to either reposition and convert the building or redevelop the site altogether. With a large 2.42 acre lot, the opportunity is endless. This Office Depot is central within the City of Stockbridge being directly in between both I-75 and I-675 which see traffic counts in excess of 199,800 vehicles per day.

Surrounding the property are many national retailers and major hotel brands, in particular, highlighting the brand new 123 bed Woodspring Suites Extended Stay Hotel just recently built in 2020 which opened directly adjacent to the property as well as a high performing Kroger Grocery Anchored Shopping Center right across the street from Lake Spivey Parkway.

Investment Highlights

  • Fantastic Future Repositioning & Redevelopment Opportunity In The Atlanta MSA
  • Incredibly Liberal Zoning Permitting The Highest Variety Of Uses
  • Perfectly Positioned With Car Counts Exceeding 54,200 Vehicles Per Day
  • Strong Demographic Fundamentals
  • Highly Functional & Ideal 20,509 Square Foot Retail Building
  • Adjacent To A Brand New 2020 Built 123 Room Woodspring Suites Extended Stay Hotel

Exclusively Listed By

Office Supply

Office Depot | Atlanta MSA

Listing Price: $3,800,000

Cap Rate
6.26%
Tenant Name
Office Depot, Inc.
Years Remaining On Lease
0.90
Gross SF
20,509
Guarantor
Corporate Guarantee
Rentable SF
20,509
Price/Gross SF
$185.28
Lease Type
Double Net
Rent Per Square Feet
$11.60

Investment Highlights

  • Fantastic Future Repositioning & Redevelopment Opportunity In The Atlanta MSA
  • Incredibly Liberal Zoning Permitting The Highest Variety Of Uses
  • Perfectly Positioned With Car Counts Exceeding 54,200 Vehicles Per Day
  • Strong Demographic Fundamentals
  • Highly Functional & Ideal 20,509 Square Foot Retail Building
  • Adjacent To A Brand New 2020 Built 123 Room Woodspring Suites Extended Stay Hotel

Investment Overview

Marcus & Millichap is pleased to present to qualified investors, an Office Depot located at 3480 Mount Zion Rd. in Stockbridge Georgia part of the Atlanta Metropolitan Area. The subject property is 20,509 square feet on 2.42 acres on a double net lease with Office Depot, Inc. with approximately one year and eight months left on the remaining lease term with one last five year option to extend until 2026. Office Depot (ODP) is the second largest office supply retailer in the U.S. operating approximately 1,275 stores. The company operates through three reportable segments: Retail, Business Solutions and CompuCom. The BSD, retail and CompuCom segments generate revenues of approximately, $5.1 billion, $4.9 billion and $1.0 billion, respectively. The CompuCom segment was formed as a result of the acquisition of CompuCom Systems, Inc. (CompuCom) during the fourth quarter of 2017. The company sells through multiple channels, consisting of retail stores, a business to business sales force, internet sites, an inside sales organization, direct marketing catalogs and call centers, all supported by a network of supply chain facilities and delivery operations.

Office Depot benefits from its extensive store network that can be leveraged to provide more services to small and medium business, drive demand and retention and thereby differentiate Office Depot from online competitors. Additionally, the company has good liquidity to support the investment needed to transform the business and is expected to continue its historically prudent balance sheet management. The company generates positive free cash flow and maintains large cash balances which gives it the financial flexibility to support its transformation.

The property presents itself as a highly functional commercial development site that is well positioned to receive significant interest from Investors and Developers alike. The property may be repositioned and converted into a wide variety of creative and flexible uses including Retail, Office, Hotels (With Variance), Drug Stores, Banks, Grocery Stores and much more. Investors can receive short term income in the interim while consulting with the City of Stockbridge with their new development plans.

The subject property is an excellent opportunity to either reposition and convert the building or redevelop the site altogether. With a large 2.42 acre lot, the opportunity is endless. This Office Depot is central within the City of Stockbridge being directly in between both I-75 and I-675 which see traffic counts in excess of 199,800 vehicles per day.

Surrounding the property are many national retailers and major hotel brands, in particular, highlighting the brand new 123 bed Woodspring Suites Extended Stay Hotel just recently built in 2020 which opened directly adjacent to the property as well as a high performing Kroger Grocery Anchored Shopping Center right across the street from Lake Spivey Parkway.

Exclusively Listed By

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