Former Dealership Institutional Owner
Vacant | Retail Building | Online Auction Sale | Lawrenceville, GA 30046
For Sale
Active
- Date Added:
- May 17, 2024
- Days on Market:
- 28 days
- Property Type
-
Retail
Listing Contacts
Marla Chaliff
Verified Profile
Mary Humphreys
Verified Profile
- Property Info
Property Overview
The former used car dealership, strategically positioned at 366 W Pike Street, is an excellent opportunity right outside of Atlanta in Lawrenceville, Georgia. The asset is comprised of two structures totaling 1,031 square feet on an expansive 0.76 acre lot. The site benefits from a highly visible location at the intersection of W Pike Street and Langley Drive with monument signage that is easy to spot. There is broad zoning available for this property allowing new ownership with several avenues for how they would like to utilize this asset. Buyers can revamp the property and use it as a car dealership as it was previously utilized. Alternatively, it can be used as a different type of retail. W Pike Street is a major retail area for Lawrenceville making it the perfect place for development. This space would also be perfect for an owner/user as they can utilize this space for their own business.
The Lawrenceville/Dacula submarket is an excellent one for investors to enter due to its proximity to the major Atlanta metro. Roughly 29,000 square feet is under construction in the Lawrenceville/Dacula retail submarket. In the past year, there have been 33 sales, which have traded for approximately $55.1 million in volume and 310,000 square feet in stock. Rents have increased by 5.3% over the past year and an impressive 18.8% over the past three years. The total Lawrenceville/Dacula retail submarket comprises 9.5 million square feet of inventory.
Downtown Lawrenceville is the perfect place for business for in and out of state investors. Just 30 miles northeast of Downtown Atlanta, commuting is a breeze on I-85. Georgia Gwinnett College is northwest of Downtown with students often supporting the local shops and businesses in town. Gwinnett County Fairgrounds is situated on the south side along Sugarloaf Parkway, and the popular Sugarloaf Mills mall is to the northwest of the neighborhood near I-85. Also nearby the property is Northside Hospital Gwinnett. Retail is prevalent in the area with local and national chains sprinkled into the landscape.
366 W Pike Street is the perfect investment for those looking to enter the broader Atlanta market while making an impact on the local community.
Property tours are available by appointment only, please contact the listing broker to schedule.
The Lawrenceville/Dacula submarket is an excellent one for investors to enter due to its proximity to the major Atlanta metro. Roughly 29,000 square feet is under construction in the Lawrenceville/Dacula retail submarket. In the past year, there have been 33 sales, which have traded for approximately $55.1 million in volume and 310,000 square feet in stock. Rents have increased by 5.3% over the past year and an impressive 18.8% over the past three years. The total Lawrenceville/Dacula retail submarket comprises 9.5 million square feet of inventory.
Downtown Lawrenceville is the perfect place for business for in and out of state investors. Just 30 miles northeast of Downtown Atlanta, commuting is a breeze on I-85. Georgia Gwinnett College is northwest of Downtown with students often supporting the local shops and businesses in town. Gwinnett County Fairgrounds is situated on the south side along Sugarloaf Parkway, and the popular Sugarloaf Mills mall is to the northwest of the neighborhood near I-85. Also nearby the property is Northside Hospital Gwinnett. Retail is prevalent in the area with local and national chains sprinkled into the landscape.
366 W Pike Street is the perfect investment for those looking to enter the broader Atlanta market while making an impact on the local community.
Property tours are available by appointment only, please contact the listing broker to schedule.
Property Details
- Class
- C
- Year Built
- 2002
- Stories
- 1
- Property Subtype
- Vehicle Related
- Lot Size (sq. ft)
- 34,412 SF
Highlights
- 100% vacant former used car dealership in downtown Lawrenceville, a part of the Atlanta, Georgia, MSA.
- Site benefits from its location along W Pike Street, which sees upward of 42,900 vehicles per day.
- Accessibility is a breeze with Lawrenceville Highway and Route 29 nearby making the commute to Downtown Atlanta about 30 minutes.
- Population within a 10-mile radius is growing rapidly and expected to continue expanding over the next five years.
- Population within a 10-mile radius of the property has a noteworthy spending power of over $7.84 billion annually.
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