• Broker Daniel Latshaw 7707404766 x 3

481 W Pike St 8,470 SF 76% Leased Retail Building Lawrenceville, GA 30046 $1,350,000 ($159.39/SF) 8.56% Cap Rate

View Photo

INVESTMENT HIGHLIGHTS

  • Solid medical tenant occupying space since 2002
  • Level 0.645 acre BG zoned lot providing parking on 3 sides of the building
  • Highly visible building with exposure to 44,500 cars per day

EXECUTIVE SUMMARY

Vision Commercial Advisors is pleased to present an opportunity to acquire a +/- 8,300 sq. ft. income-producing medical/retail building with exposure to 44,500 cars per day in an affluent Atlanta suburb. Available at $1,350,000, this investment has a proforma 8.6% CAP return (6.6% CAP on existing income with current vacancy). +/- 6,350 sq ft has been occupied by American Health Imaging since 2002, who operates 45 diagnostic facilities throughout the southeast. The current lease extension runs through 12/31/2029 with two 5-year extension options. The remaining +/- 1,950 sq ft was until recently leased to an electronics store and is now available for an owner-occupant or new tenant.
The level 0.645 acre BG (General Business) zoned lot is near Northside Hospital Gwinnett and provides parking on 3 sides of the building. Monument signage advertises to busy West Pike Street, a major artery in the area of Northside Hospital Gwinnett. Please do not disturb tenant. Shown by appointment only.

ATTACHMENTS

Offering Memorandum 481 West Pike Street

FINANCIAL SUMMARY (ACTUAL - 2024)

ANNUAL ANNUAL PER SF
Gross Rental Income $139,462 $16.47
Other Income - -
Vacancy Loss - -
Effective Gross Income $139,462 $16.47
Taxes $16,237 $1.92
Operating Expenses $7,675 $0.91
Total Expenses $23,912 $2.82
Net Operating Income $115,550 $13.64

FINANCIAL SUMMARY (ACTUAL - 2024)

Gross Rental Income
Annual $139,462
Annual Per SF $16.47
Other Income
Annual -
Annual Per SF -
Vacancy Loss
Annual -
Annual Per SF -
Effective Gross Income
Annual $139,462
Annual Per SF $16.47
Taxes
Annual $16,237
Annual Per SF $1.92
Operating Expenses
Annual $7,675
Annual Per SF $0.91
Total Expenses
Annual $23,912
Annual Per SF $2.82
Net Operating Income
Annual $115,550
Annual Per SF $13.64

PROPERTY FACTS

Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Freestanding
Building Size
8,470 SF
Building Class
B
Year Built/Renovated
1980/2002
Price
$1,350,000
Price Per SF
$159.39
Cap Rate
8.56%
NOI
$115,548
Percent Leased
76%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.29
Lot Size
0.67 AC
Zoning
BG, Lawrenceville - General Business, City of Lawrenceville
Parking
40 Spaces (4.7 Spaces per 1,000 SF Leased)
Frontage
161’ on Pike St

MAJOR TENANTS

  • TENANT
  • INDUSTRY
  • SF OCCUPIED
  • RENT/SF
  • LEASE TYPE
  • LEASE END
  • Health Care and Social Assistance
  • -
  • $15.75
  • Modified Gross
  • Nov 2028

Established in 1991, Touchstone Medical Imaging is a leading provider of high quality, multi-modality diagnostic imaging services for patients and physicians. Headquartered in Plano, TX and partners with US Radiology Specialists since 2018, Touchstone owns and operates best-in-class diagnostic imaging facilities and partners with leading healthcare systems in Colorado, Oklahoma and Texas, as well as additional center sites in Florida, Montana and Arkansas.

TENANT INDUSTRY SF OCCUPIED RENT/SF LEASE TYPE LEASE END
Health Care and Social Assistance - $15.75 Modified Gross Nov 2028

SPACE AVAILABILITY

  • SPACE
  • SIZE
  • SPACE USE
  • POSITION
  • AVAILABLE
  • C
  • 1,950 SF
  • Retail
  • In-Line
  • 30 Days

Suite C (1,950 SF) available for lease within 30 days of executed lease agreement. Suite C has a 9'x10" drop ceiling throughout the front portion of the space. Clear height beyond the grid and small storage room in the rear has 12' clear height. Storage room in rear has one (1) 8'x8' grade level roll up door. Truck court/parking lot in rear is 50' deep. Please reach out with any questions.

Space Size Space Use Position Available
C 1,950 SF Retail In-Line 30 Days

C

Size
1,950 SF
Space Use
Retail
Position
In-Line
Available
30 Days

C

Size 1,950 SF
Space Use Retail
Position In-Line
Available 30 Days

Suite C (1,950 SF) available for lease within 30 days of executed lease agreement. Suite C has a 9'x10" drop ceiling throughout the front portion of the space. Clear height beyond the grid and small storage room in the rear has 12' clear height. Storage room in rear has one (1) 8'x8' grade level roll up door. Truck court/parking lot in rear is 50' deep. Please reach out with any questions.

TRAFFIC

COLLECTION STREET CROSS STREET TRAFFIC VOLUME YEAR Distance
West Pike Street John B Wilson Ct, SE 41,737 2025 0.11 mi
West Pike Street State Hwy120, W 38,000 2021 0.11 mi
W Pike St John B Wilson Ct, SE 41,141 2024 0.14 mi
Maltbie St McConnell Dr, W 3,470 2025 0.24 mi
Winer Industrial Way Wellness Way, NE 7,143 2025 0.34 mi
West Pike Street Buchanan St NW, W 45,746 2025 0.35 mi
W Pike St Buchanan St NW, W 45,239 2024 0.35 mi
Professional Dr Wellness Way, SW 5,448 2025 0.41 mi
Duluth Hwy 120 Professional Dr, NW 41,056 2025 0.44 mi
Hurricane Shoals Rd NW Bridge Way, W 18,912 2024 0.45 mi

NEARBY MAJOR RETAILERS

Krystal
Sonny"s Real Pit Bar B-Q
Applebee's
Starbucks
Bank of America
Truist
Golden Krust
Hooters
Fifth Third Bank
Steak ‘n Shake

PROPERTY TAXES

Parcel Number 5-144-020 Total Assessment $443,200 (2023)
Land Assessment $116,760 (2023) Annual Taxes $16,237 ($1.92/SF)
Improvements Assessment $326,440 (2023) Tax Year 2024

PROPERTY TAXES

Parcel Number
5-144-020
Land Assessment
$116,760 (2023)
Improvements Assessment
$326,440 (2023)
Total Assessment
$443,200 (2023)
Annual Taxes
$16,237 ($1.92/SF)
Tax Year
2024

MAP

ADDITIONAL PHOTOS

View Photo 481 West Pike - 8.5 x 11 Survey
View Photo 84A02A63-56DD-4F08-A461-AAD398E2C6EF_1_105_c
View Photo Plat Map
View Photo A651D896-77E7-4EE7-9F96-C00B591B64F5_1_105_c
View Photo 261421EC-2A95-44B1-B6C0-FB3D6C8F801B_1_105_c
View Photo FA61AB0B-B665-4CBB-B5F5-B666278CCCB0_1_105_c
View Photo 7DF8E50F-CC51-4822-B41D-D3199ABF6D09_1_105_c