Alpharetta, GA 30022 770.481.1960 · 2017. 7. 20. · 5755 North Point Parkway, Suite 262 Alpharetta, GA 30022 770.481.1960 MAGNOLIA PLAZA 5245 Buford Hwy, Norcross (Atlanta MSA),

5755 North Point Parkway, Suite 262

Alpharetta, GA 30022

770.481.1960

www.shanegroup.net

MAGNOLIA PLAZA

5245 Buford Hwy, Norcross (Atlanta MSA), GA

http://www.shanegroup.net

5245 Buford Hwy, Norcross (Atlanta MSA), GA 770.481.1960 | www.shanegroup.net

MAGNOLIA PLAZA


MAGNOLIA PLAZA

See accompanying Confidentiality Statement.

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Magnolia Plaza sits in the densely populated area of Norcross, GA, with 75,000 residents within 3 miles. Norcross makes its home in

Gwinnett County, Georgia’s second largest county by population and one of the fastest growing over the last thirty years. Gwinnett

has experienced a 50% increase in population since 2000 as the Atlanta metropolitan area has continued to stretch through the

north and northeast areas of the county.

Norcross is home to a diverse business environment, including light manufacturing, retail, office, and research and technology

companies. Norcross appeals to all types of companies due to its central location to the metro Atlanta highways and almost every

other amenity imaginable. The city has developed incentives to attract new businesses with the redevelopment of downtown and

uptown districts. Norcross also boasts a skilled and diverse workforce to supply businesses with employees.

BUILDING: 9,243 SF | LAND: +/- 1.00 ACRES | YEAR BUILT: 2007

Magnolia Plaza is a four tenant shopping center and is 85% leased. Tenants include two medical uses, and one local tenant. The GLA

is 9,243 square feet and the building was constructed in 2007. All leases have terms of at least 5 years, except a Master Lease from

the Seller, which expires in late 2018. The location is in Norcross just northeast of the historic downtown Norcross area and is on a

busy thoroughfare with over 40,000 car count.

This area has seen population growth of over 10% within 1 mile and, more importantly, projected average household income

growth of almost 8% over the next 5 years, now at over $73,000 per year (5% above the US average). The center further benefits

by a very high daytime population of over 73,000 within 3 miles.

85% Leased; 3 Tenants signed 5 Year Renewal

Average 1 & 3 mile household income over $73,000

Excellent Physical Condition—2007 Construction

Sees over 40,000 Cars Per Day


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Please note: Map Depicts 5 Minute Drive Time


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Please note: Map Depicts 5 Minute Drive Time


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Please note: Lot Lines are Approximate


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Please note: Lot Lines are Approximate


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RETAIL RESIDENTIAL INDUSTRIAL OFFICE SELF STORAGE


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S T A R T EXP IR A T IO N

S Y M e d 3,000 32.46% J un-11 M a y -21 $48,000 $16.00 $12,552 N O N E

R os e M a s s a g e 2,100 22.72% M a y -16 M a y -21 $28,200 $13.43 N O N E

In-Q ue s t M e dica l R e s e a rch 2,800 30.29% M a r-16 M a r-21 $60,000 $21.43 $10,593 N O N E

M a s te r L e a s e (VAC AN T) 1,343 14.53% S e p -18 $23,126 $17.22 $4,482 N O N E

7,900 $27,627

O ccupie d 85% 9,243 85.47% $159,326 $17.24 $27,627

V a ca nt % 0 0.00% $0 #D IV /0!

M a s te r L e a s e - S e lle r to p a y a ll re nt a nd N N N f e e s in ca s h up on C los ing

S e e Te na nt O v e rv ie w on P a g e 15

$159,326

107 N O N E

105/106 1 x 3 Y e a rs

O P T IO N S

101 N O N E

103/104 1 x 3 Y e a rs

T EN A N T

S Q U A R E

FO O T A G E

% O F

CEN T ER

L EA S E T ER MA N N U A L

B A S E R EN T

A N N U A L

R EN T /S Q . FT .

ES T IM A T ED

R ECA P T U R E ES CA L A T IO N SS U IT E


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B u i l d i n g

P ric e: Y ear B u ilt: 2 0 0 7

D o w n P aym en t : B u ild in g Sq u are F eet: 9 ,2 4 3

C u rren t C A P : Lan d Parc el ( A c res) : 1 .0 0

T e n a n t s

F irst Lo an A m o u n t: SY M E D

In terest R ate: In q u est M ed ial R esearc h

A m o rtiz atio n :

T erm :

M o n th ly Paym en t:

* Lo an in fo rm atio n is p ro p o sed fo r an alysis p u rp o ses o n ly. B u yer m ay

o b tain a n ew lo an o r c o m p lete an all c ash ac q u isitio n .

E x p e n s e s

Sc h ed u led G ro ss In c o m e $ 1 5 9 ,3 2 6 $ 1 2 ,4 8 5

Plu s O verage - 2 ,0 3 5

Plu s R ec ap tu re 2 7 ,6 2 7 8 ,2 8 0

T o t al In c o m e $ 1 8 6 ,9 5 3

V ac an c y R eserve 9 ,3 4 8 5 .0 % * 3 .0 % 4 ,7 7 9

G ro ss O p erat in g In c o m e $ 1 7 7 ,6 0 6 1 ,5 0 0

Less E xp en ses 3 4 ,2 6 5 3 ,8 0 0

N et O p erat in g In c o m e $ 1 4 3 ,3 4 0 1 ,3 8 6

Lo an Paym en ts 8 9 ,3 4 8

P re T ax C ash F lo w $ 5 3 ,9 9 3 1 0 .1 %

Plu s Prin c ip al R ed u c tio n 2 4 ,7 0 5

T o t al R et u rn B efo re T axes $ 7 8 ,6 9 8 1 4 .8 % T o t al E xp en ses $ 3 4 ,2 6 5

$ PSF $ 3 .7 1

M ain ten an c e

U tilities

M an agem en t

Lan d sc ap in g/Sw eep in g

R u b b ish

R eserves ( $ 0 .1 5 /SF )

C u rren t R en t s

T axes

In su ran c e

5 F ixed M aster Lease

$ 7 ,4 4 5 .6 5

R e t u r n

L o a n I n f o r m a t i o n

$ 1 ,2 4 2 ,5 0 0

5 .2 5 %

2 5 R o se M assage

8 .0 8 %

C o st p er G ro ss Sq u are F o o t: $ 1 9 2 .0 4

A n n u al R en t p er Sq u are F o o t: $ 1 7 .2 4

F i n a n c i a l

$ 1 ,7 7 5 ,0 0 0

3 0 .0 0 % $ 5 3 2 ,5 0 0


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SY MED was founded by Dr. Syamala Erramilli, M.D., who has practiced Internal Medicine in metro Atlanta for 17 years. Dr.

Erramilli is a board certified Internist and board certified Palliative and Hospice care specialist in Georgia. Dr. Erramilli sees

patients at her two offices, one in Tucker and one in Norcross. SY MED is open on Saturday and has extended hours on

Wednesday. Dr. Erramilli recently added a highly effective Weight Management Program to her portfolio. She has

personally guaranteed this lease.

In-Quest Medical Research is a dedicated multi-specialty research site proficient in conducting phase II – IV clinical drug

and device trials. Their research team has worked for and on behalf of (sponsors/CRO's): Abbott, AstraZeneca, Bristol-

Myers Squibb, Cephalon, Covance, Elan, Furiex, Gilead, GlaxoSmithKline, Hoffman-LaRoche, ICON, Kendle, Merck,

Novartis, Parexel, PPD, Pfizer, Quintiles, Wyeth. Founded by medical physicians and healthcare professionals, In-Quest

Medical Research, LLC has been providing patient care to their many study volunteers since 2008. Each physician

is certified by the American Board of Internal Medicine and comes to their practice in their area of specialty, these include:

Cardiovascular, Dentistry, Dermatology, Endocrine, Family Practice, Gastroenterology, Genitourinary, Hematology,

Infectious Disease, Neurology, Pulmonary, Rheumatology, Sleep Studies, and Women’s Health.

Rose Massage has four locations in the metro Atlanta area in Dunwoody, John’s Creek, Norcross and Roswell. They offer

various types of massage including: Swedish, deep tissue, vichy spa, hot stone, foot massages, and MPS Therapy for pain

management.


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https://www.google.com/maps?espv=2&biw=1920&bih=970&q=5245+buford+hwy+norcross+ga+30071&bav=on.2,or.r_cp.&bvm=bv.142059868,d.amc&dpr=1&ion=1&sns=1&um=1&ie=UTF-8&sa=X&sqi=2&ved=0ahUKEwj1_8vT3IjRAhWa0YMKHZYoDF0Q_AUIBigB


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One Mile Three Miles Five Miles Notes

2016 Population 9,604 75,611 247,475 2010 Population 8,724 70,087 231,938 5 Year Projected 10,492 81,374 263,905 Growth Over the Past 5 Years 10.09% 7.88% 6.70%Projected Growth Over the Next 5 Years 9.25% 7.62% 6.64%

2016 Households 3,101 25,765 85,395 % Owner Occupied 58.72% 47.76% 43.46%% Renter Occupied 41.28% 52.24% 56.54%2010 Households 2,857 24,174 81,429 5 Year Projected 3,359 27,573 90,398 Growth Over the Past 5 Years 8.54% 6.58% 4.87%Projected Growth Over the Next 5 Years 8.32% 7.02% 5.86%

2016 Average Household Income $73,344 $74,276 $72,353 5 Year Projected $79,082 $79,691 $78,178 Projected Growth Over the Next 5 Years 7.82% 7.29% 8.05%

2015 United Stated Median Household Income $69,821

Employment & Establishments

2016 Employees/Daytime Population 6,830 73,442 158,246 2016 Total Establishments 694 5,717 13,420

White 38.3% 38.7% 41.6%Black 19.0% 22.6% 22.8%Hispanic Origin (Any Race) 40.0% 35.9% 36.1%American Indian/Eskimo 0.6% 0.8% 0.7%Asian/Pacific Islander 16.8% 15.4% 13.8%Two or More Races 4.6% 4.3% 4.0%Other Race 20.7% 18.3% 17.0%

Race

Population

Households

Income

Over 75,000

people within 3 miles

Average household

income over $74,0000

Daytime population

over 73,000

within 3 miles

Documents

Alpharetta, GA 30022 770.481.1960 · 2017. 7. 20. · 5755 North Point Parkway, Suite 262 Alpharetta, GA 30022 770.481.1960 MAGNOLIA PLAZA 5245 Buford Hwy, Norcross (Atlanta MSA),