Marcus & Millichap Arranges $8.3M Sale Of Hightower Station Retail Center In Atlanta
Martin Luther King Jr Drive Southeast
$8,300,000
$147/SF
Building Size
56,300 SF
Asset Type
Retail
Closing
Jan 7, 2025
About this deal
AI
2630 MLK Jr. Drive is a retail asset in Atlanta, GA, consisting of 6.3 acres and featuring a total square footage of 56,300. The property was sold for $8,300,000, resulting in a price per square foot of $147. It includes tenants such as Dollar Tree and Atlanta SMART Academy.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $8,300,000
- Sale Date: 01/07/2025
- Address: 2630 MLK Jr. Drive
- Market: Atlanta, GA
- Acres: 6.3
- Square Footage: 56,300
- Price per Square Foot: $147
- Brokers: Eric Abbott & Taylor Abbott - Marcus & Millichap
- Mortgage Brokers: Garrett Fierstein - Marcus & Millichap
Marcus & Millichap facilitated the sale of the shopping center, highlighting their role in arranging this transaction, which involved key brokers Eric Abbott and Taylor Abbott, and mortgage broker Garrett Fierstein.
Players
Baconton Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.91%
Cash-on-Cash
-0.55%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93