hiram square ii - loopnet...jimmy lee smith pkwy is a major divided median thoroughfare connecting...
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Hiram Square II 5077 Jimmy Lee Smith Pkwy., Hiram, GA 30141
Exclusively Presented by: Schair and Associates, Inc. ■ Richard Schair ■ 770.533.9585
5592 Cool Springs Road, Gainesville, GA 30506 [email protected] ■ www.schairinc.com
• 10,700+/- S.F. Value Add Retail Strip Center• Anchor Tenant: Cheeseburger Bobby’s• 100% Occupied• CAP Rate: 8.0% on Actual Existing NOI• 8.9% - As Is – 5 Year Unleveraged Return• 14.7% - 5 year Leveraged Return
Demographics (2021 projection)
1 mile 3 mile 10 mile
Population 3,310 30,351 360,611
Households 1,087 10,700 123,168
2016 Avg. HH Income
$63,635 $ 76,281 $83,036
Property Type
Value Add Neighborhood Strip Center
Size 10,700 S.F.
Occupancy 100% occupied
Frontage 163 feet
Traffic Count - 34,520 VPD at Site
Year Built 2005
Land Area 1.43 Acres
Utilities All utilities available at site
Parking 4.3/1,000: 46+/- spaces 2 ADA spaces
Zoning B2-100
Parcel ID - 176.2.1.014.0000
Visibility The center has excellent visibility from Jimmy Lee Smith Pkwy (main thoroughfare). The centers prominently located signage attracts the attention of traffic traveling from both directions along Jimmy Lee Smith Pkwy.
Accessibility The property has two entrances. One is accessed from Jimmy Lee Smith Pkwy with right-in/right- out only. The other entrance is via an access road with a traffic light. Jimmy Lee Smith Pkwy is a major divided median thoroughfare connecting the city of Hiram with Dallas, the county seat.
Location The center is located at 5077 Jimmy Lee Smith Pkwy in Hiram Georgia, 0.75 miles east of the intersection of Jimmy Lee Smith Pkwy and Poplar Springs Rd. The property is 22.6 miles west northwest of downtown Atlanta which equates to a 33-minute drive time from downtown Atlanta to property.
Surrounding Retail Hiram Square II is located along Hiram’s primary retail corridor. The Hiram retail market consists of 138 properties totaling 2.45 million square feet with 9,891 S.F. having been delivered in the past year. The area’s average starting NNN rent per square foot is $15.68 The current area vacancy rate is 5.4%.
CURRENT OCCUPANCY 100%
• Rentable Square Footage: 10,700• Occupancy:• Purchase Price:• Square Foot Price:• Current NOI:• CAP Rate on Actual NOI:
100% $2,150,000 $2011 $171,915 8.0%
Based on a 5% vacancy & 5% Cost of Sale
CURRENT TENANTS S.F. Cheeseburger Bobby’s 2,000 Hiram Books 1,200
Chartwell Staffing 1,200 Ambassador Barber 1,200
Restoration Therapy 1,800
Satin Dollzz 1,500 IC Hot 1,800
TOTAL S.F. 10,700
METRO ATLANTA MAP VIEW
Hiram Square II ● 5077 Jimmy Lee Smith Pkwy. ● Hiram, GA ● 30141
LOCAL MAP VIEW
Hiram Square II ● 5077 Jimmy Lee Smith Pkwy. ● Hiram, GA ● 30141
SITE PLAN
Hiram Square II ● 5077 Jimmy Lee Smith Pkwy. ● Hiram, GA ● 30141
Suite Tenant
101 Cheeseburger Bobby’s
107 Satin Dollzz
109 Hiram Books
111 Chartwell Staffing
113 Ambassador Barber
115 IC HOT
119 Physical Therapy
Aerial Market View
Hir
PROPERTY PHOTOS