N
LAND FOR SALE
M
AI
N
ST
±22 AC
T NS AI
SM
5 9
DOWNTOWN JASPER
515 9
CH
W CHURCH ST
53 9
53 9
W
R HU
ST
C
SITE
S MAIN ST
5 9 515 9
MOUNTAIN VIEW VILLAGE GA-5 + W CHURCH ST // JASPER, GA 30143 PREPARED BY:
KEITH GUTHRIE
Senior Vice President kguthrie@skcr.com 404.790.7271
TOM KIRBO
President tkirbo@skcr.com 678.429.5849
53 9
TABLE OF CONTENTS 1 2 3
INVESTMENT HIGHLIGHTS
Executive Summary General Information
PROPERTY OVERVIEW
Detailed Survey Nearby Amenities Proposed Project Renderings
MARKET OVERVIEW
Submarket Analysis – Retail Submarket Analysis – Office Submarket Analysis – Multifamily Demographics
INVESTMENT HIGHLIGHTS
INVESTMENTSUMMARY EXECUTIVE HIGHLIGHTS SITE
SK Commercial is pleased to offer the sale of Mountain View Village, a mixed-use development site in Jasper, GA, strategically located at the corner of GA-5/515 N and W Church St/Hwy 53. The site is entitled to 152 multifamily units, 25 townhomes, 30,000 SF of retail/office space, and green spaces, all in the shadow of north Georgia’s majestic mountain range.
SITE
This mixed-use development will benefit from its location, which offers ease of access to interstates, amenities, employment centers, and an array of local, national, and international dining and retail options. The property is one mile from Jasper’s charming downtown district, which boomed with business during the pandemic era. Jasper’s newest mixed-use development will be visible from W Church St and GA-5/515 N, where a combined figure of 29,689 cars pass by the property per day*. The demographics in the area are also strong, with the average income within a 3-mile radius is $78,000/year*. This will be an outstanding investment for many years to come. *Data gathered via Placer.AI
SITE
KEITH GUTHRIE
kguthrie@skcr.com 404.790.7271
TOM KIRBO
tkirbo@skcr.com 678.429.5849
4
INVESTMENT GENERAL INFORMATION HIGHLIGHTS NAME:
Mountain View Village
USE:
Mixed-Use: Residential, Office, Medical, Dining/Retail
SIZE:
963,590 SF / 22.121 AC
EXISTING STRUCTURES:
0
MAX BUILDING HEIGHT:
30’
ACCESS POINTS:
3 curb cut / 1 signaled light
PAD READY:
Yes
PARCEL NUMBERS:
041-015; 041-015-003
ZONING:
CBD
BLUE RIDGE MOUNTAIN RANGE
SITE
KEITH GUTHRIE
kguthrie@skcr.com 404.790.7271
TOM KIRBO
tkirbo@skcr.com 678.429.5849
5
PROPERTY OVERVIEW
INVESTMENT DETAILED SURVEY HIGHLIGHTS 152 MULTIFAMILY UNITS » 3 stories » Constructed with neutrals, grays, and darker accent colors
INTER PARCEL CONNECTION TO INGLES MARKET INC.
» Energy star appliances & windows
10' SIDE B.S.L.
10' SIDE B.S.L.
OPEN SPACE 7
24'
9'
PROPOSED DUMPSTER
24' 9'
SS SS
SS
IP "D SS SS SS
24'
20
9'
'
5
OPEN SPACE
SS ESMT.
GARAGE SLAB
PORCH SLAB
GARAGE SLAB
45'
KINGSLAND-B 1,336 S.F.
PATIO SLAB
KINGSLAND-C 1,336 S.F.
GARAGE SLAB
SS
.
PR.MH C/O
45'
KINGSLAND-C 1,336 S.F.
KINGSLAND-A 1,336 S.F.
20'
26'
PATIO SLAB
26'
PATIO SLAB
KEITH GUTHRIE
kguthrie@skcr.com 404.790.7271
26'
26'
PATIO SLAB
PERVIO
US ST
50' CO
UNTY
DIP .8" PR PORCH SLAB
PORCH SLAB
PORCH SLAB
26'
PORCH SLAB
GARAGE SLAB
GARAGE SLAB
GARAGE SLAB 45'
45'
KINGSLAND-A 1,336 S.F.
DOG PARK
45'
26'
PATIO SLAB
KINGSLAND-B 1,336 S.F.
26'
PATIO SLAB
KINGSLAND-C 1,336 S.F.
KINGSLAND-A 1,336 S.F.
26'
PATIO SLAB
26'
PATIO SLAB
OPEN SPACE
.
.S.L
EB
SID
OPEN SPACE
REAM
STREAM
26'
26'
45'
26'
PATIO SLAB
PATIO SLAB
SS
75' IM
GARAGE SLAB
45'
KINGSLAND-C 1,336 S.F.
TOWNHOUSE ACREAGE = 3.47
10'
SS
CLICK HERE TO VIEW MORE DETAILED SURVEYS
C/O
45'
PROPOSED STORMWATER MANAGEMENT AREA
SS
OPEN SPACE
PORCH SLAB
GARAGE SLAB
45'
KINGSLAND-B 1,336 S.F.
26'
PATIO SLAB
SS
SS
PORCH SLAB
PORCH SLAB
45'
PORCH SLAB
PORCH SLAB
GARAGE SLAB 45'
26'
PATIO SLAB
S.S .E.
SS
10' SIDE B.S.L.
SS
P SS R.8
"D
SS
IP
SS
20 '
SS
SS
20 'S .S.E
SS
SS
C/O
45'
KINGSLAND-B 1,336 S.F.
SS SS
PORCH SLAB
GARAGE SLAB
GARAGE SLAB 45'
KINGSLAND-A 1,336 S.F.
OPEN SPACE
SS
PORCH SLAB
GARAGE SLAB
SS
SS
SS SS
24'
GARAGE SLAB
TRACT: 6 3.47 ACRES
24'
PORCH SLAB
PORCH SLAB
GARAGE SLAB
45'
45'
OPEN SPACE
SS
PORCH SLAB
PORCH SLAB
PROPOSED DUMPSTER
26'
OPEN SPACE
OPEN SPACE
PORCH SLAB
PORCH SLAB
15'
KINGSLAND-A 1,336 S.F. 45'
GARAGE SLAB
PATIO SLAB
PR.MH
SS
SS
PROPOSED 40' ACCE
PR.MH
KINGSLAND-C 1,336 S.F. 45'
GARAGE SLAB
25' FRONT B.S.L. 20' LANDSCAPE STRIP
18'
26'
26'
KINGSLAND-B 1,336 S.F. 45'
GARAGE SLAB
GARAGE SLAB
OPEN SPACE
10' SIDE B.S.L.
9'
SS
SS
9
PR.MH OPEN SPACE
PATIO SLAB
PATIO SLAB 26'
KINGSLAND-A 1,336 S.F. 45'
GARAGE SLAB PORCH SLAB
SS
SS
18'
PATIO SLAB
26'
26'
KINGSLAND-C 1,336 S.F.
GARAGE SLAB
PORCH SLAB
PORCH SLAB
SS
B
PATIO SLAB
PATIO SLAB 26'
KINGSLAND-B 1,336 S.F. 45' 45'
GARAGE SLAB
GARAGE SLAB PORCH SLAB
SS
SS
10' SIDE B.S.L.
C/O
PATIO SLAB
C/O
20'
45'
GARAGE SLAB PORCH SLAB
C/O
KINGSLAND-A 1,336 S.F.
SS
40'
25'
GARAGE SLAB
IP STR
SS
C/O PR.MH
6
9'
KINGSLAND-C 1,336 S.F.
45' 45'
E AP DSC LAN
SS
B
APARTMENT UNITS 12,242 S.F.
26'
26'
KINGSLAND-B 1,336 S.F.
45'
25' FRONT B.S.L.
PATIO SLAB
PATIO SLAB
KINGSLAND-A 1,336 S.F.
20'
SS
10' REAR B.S.L.
SS
SS
PATIO SLAB
26'
18'
7
PATIO SLAB
OPEN SPACE PATIO SLAB
5'
3 B (26)TRACT: PROPOSED
30'
PORCH SLAB
5 26'
APARTMENT UNITS 12,242 S.F.
20' LANDSCAPE STRIP
KINGSLAND-C 1,336 S.F.
24'
PORCH SLAB
SS
SS
16' SS
20
44'
3 B (26)TRACT: PROPOSED
PR.8"DIP
PR.MH
18'
SS
18'
6
PROPOSED R.O.W.
24' 9'
20' 60'
SS
5'
54'
20
PROPOSED 30' X 25' PLAY GROUND
(295) TOTAL SPACES
9'
PROPOSED R.O.W.
STRIP
C/O
18'
16'
5
KINGSLAND-B 1,336 S.F.
20
SS
SS
5'
9'
18'
6
OPEN SPACE 20' FRONT B.S.L./LANDSCAPE
24'
SS
SS
PROPOSED R.O.W. 18'
5 24'
SS
SS
20 24'
20
18'
20
9'
PATIO SLAB
9'
SS
SS
18'
18'
PROPOSED R.O.W.
KINGSLAND-A 1,336 S.F.
SS
APARTMENT ACREAGE = 6.63
GARAGE SLAB
9'
PR.8"DIP
SS
20
(50) TOTAL SPACES
SS
18'
24'
SS
SS
SS SS
SS
50
'
9'
PROPOSED DUMPSTER
'
18'
18'
20
SS
'
50
'
SS
'
50
10
PR.8"DIP
PR.8"DIP
SS
SS
OPEN SPACE
10' REAR B.S.L.
'
50
11
20
D
20
C
18'
. .S.L RB E EA AC 'R SP 15 EN OP 5 T: D AC SE TR OPO S.F. IL PR ,000 ETA 10 ICE/R RES 20' C F OF .58 A20' 1'
'
B
A
20
D
APARTMENT UNITS 12,242 S.F.
'
4C B (26)TRACT: PROPOSED
20
A
18'
20'
E AC SP EN OP RIP PE ST DSCA ./LAN
SS
& AC
60'
'
50
5'
5'
20 24'
40' 60'
18'
50
9'
B.S.L ONT
D
OPEN SPACE
E
C
C/O
20'
60'
18'
5'
'
50
'
18'
SS
C/O
D
APARTMENT UNITS 12,242 S.F.
SS
MT.
ES CESS
C
50
'
D
D
APARTMENT UNITS 11,100 S.F.
'
SPAC
SS
» Constructed with masonry and wood accents » Covered entrances
TRACT: 4 C B (24) PROPOSED
B 30'
50
8
OPEN
SS
3C B (26)TRACT: PROPOSED
OPEN SPACE
' R/W
A A
PR.MH
20'
'
18'
5'
20
D
C
9'
17
SS
» Proposed as 3 ~10,000 SF buildings D 60
C/O
20' FR
B
SS
30,000 SF OFFICE/RETAIL SPACE
POSE
SS
'
SS
D
OPEN SPACE
PRO
'
50
PR.MH
20
SS
» Garage parking/storage
PROPOSED 12' DRIVE THUR
9'
18'
8
18'
23
36'
.L.
EN
OP
9'
P STRI APE NDSC . 20' LA B.S.L ONT 25' FR
SS
3C B (24)TRACT: PROPOSED
B
E B.S
24'
OPEN SPACE
15' REAR B.S.L.
OPEN SPACE
SS
C/O
APARTMENT UNITS 11,100 S.F.
A
10' SID
PROPOSED R.O.W. SPACE
9'
12' 9'
18'
SS
SS
9'
OPEN SPACE
A
60'
18'
SS
SS
18' 24'
30'
SS
PR .8 SS
PR.MH
5'
A
20' 18'
12
24'
20
A
18'
SS
SS
SS
OPEN SPACE
PR.8"DIP
10' SIDE B.S.L. 10' SIDE B.S.L.
20
» Constructed with neutrals, grays, and darker accent colors
PR.MH
PROPOSED R.O.W.
10' SIDE B.S.L. 10' SIDE B.S.L.
PR.MH
SS
SS
» 2- and 3-bedroom options
4
SS
SS
SS
C/O
8
OPEN SPACE
OPEN SPACE
18'
9'
9'
SS
SS
» 26’ wide
24'
18' 24'
SS
5
24'
TRACT: 2 PROPOSED 9,000 S.F. OFFICE/RETAIL 1.19 ACRES
19
PR.8"DIP
(63) TOTAL SPACES
18'
SS
10' SIDE B.S.L.
OPEN SPACE
SS
25 TOWNHOME UNITS
5'
60' 20'
SS
8
18'
IP
9'
C/O
APE STR
SS
24' 18'
1.56 ACRES
20
SS
SS
(46) TOTAL SPACES
TRACT: 1 PROPOSED 12,000 S.F. OFFICE CONDO
7 24'
SC LAND
16
15' REAR B.S.L.
9'
SS
SS
18' 18'
.L./ ONT B.S
24'
20' FR
SS
» Surface parking
OPEN SPACE
24'
SS
15
36'
SS
18'
BUFFER
BUFFER
TOM KIRBO
tkirbo@skcr.com 678.429.5849
7
NEARBY AMENITIES 53 9 PIZZA HUT
53 9
MCDONALD’S
JASPER PROFESSIONAL CENTER
AUTOZONE INTER PARCEL CONNECTION TO INGLES MARKET INC.
10' SIDE B.S.L.
DOWNTOWN JASPER ±1.5 MI
BURGER KING
COMMUNITY BANK OF PICKENS COUNTY
10' SIDE B.S.L. OPEN SPACE
7
24'
9'
PROPOSED DUMPSTER
SS SS
SS
SS
IP SS
.8 "D PR SS
SS
18'
9'
5
SS
SS ESMT.
PR.MH
PORCH SLAB
SS
GARAGE SLAB
GARAGE SLAB
45'
26'
KINGSLAND-C 1,336 S.F.
GARAGE SLAB
26'
PATIO SLAB
45'
KINGSLAND-B 1,336 S.F.
26'
PATIO SLAB
KINGSLAND-C 1,336 S.F.
SS
.S.E . 20
SS
SS
PR
10' SIDE B.S.L.
.8"
SS
DIP
SS SS SS
20'
±1.4 MI
OPEN SPACE
PERVIO
UNTY
DAY’S CHEVROLET OF JASPER
ISTUR
25'UND
PERVIO
REAM
STREAM
US ST
REAM
DIP .8" PR PORCH SLAB
26'
GARAGE SLAB
USPS
GARAGE SLAB
45'
KINGSLAND-C 1,336 S.F.
PORCH SLAB
PORCH SLAB
GARAGE SLAB
PORCH SLAB
GARAGE SLAB GARAGE SLAB 45'
45'
DOG PARK
45'
KINGSLAND-A 1,336 S.F.
KINGSLAND-B 1,336 S.F.
26'
26'
26'
PATIO SLAB
PATIO SLAB
KINGSLAND-C 1,336 S.F.
KINGSLAND-A 1,336 S.F.
26'
PATIO SLAB
PATIO SLAB
TOWNHOUSE ACREAGE = 3.47
26'
PATIO SLAB
OPEN SPACE
.
.S.L
EB
SID
BUFFER
BUFFER
REAM
BED ST
UNTY
75' IM
KEITH GUTHRIE
BED ST
ISTUR
50' CO
kguthrie@skcr.com 404.790.7271
REAM
STREAM
26'
26'
45'
OPEN SPACE
US ST
50' CO 25'UND
PORCH SLAB
GARAGE SLAB
26'
10'
SS
75' IM
C/O
45'
PROPOSED STORMWATER MANAGEMENT AREA
SS SS
PORCH SLAB
PORCH SLAB
45'
KINGSLAND-B 1,336 S.F.
PATIO SLAB
SS
PIEDMONT HOSPITAL MOUNTAINSIDE
PORCH SLAB
PORCH SLAB
45'
26'
PATIO SLAB
SS
SS
KINGSLAND-A 1,336 S.F.
26'
PATIO SLAB
OPEN SPACE
SS
PORCH SLAB
45'
GARAGE SLAB
45'
45'
KINGSLAND-A 1,336 S.F.
26'
PATIO SLAB
'S
'S .S.E . 20
SS
SS SS
PR.MH C/O C/O PORCH SLAB
GARAGE SLAB
45'
KINGSLAND-B 1,336 S.F.
PATIO SLAB
SS
OPEN SPACE
PORCH SLAB
PORCH SLAB
24'
GARAGE SLAB
TRACT: 6 3.47 ACRES
24'
PORCH SLAB
PORCH SLAB
GARAGE SLAB
GARAGE SLAB 45'
OPEN SPACE
SS
PORCH SLAB
PORCH SLAB
PROPOSED DUMPSTER
PR.MH
OPEN SPACE
PORCH SLAB
15'
KINGSLAND-A 1,336 S.F. 45'
GARAGE SLAB
SS
SS
PROPOSED 40' ACCE
KINGSLAND-C 1,336 S.F. 45'
GARAGE SLAB
25' FRONT B.S.L. 20' LANDSCAPE STRIP
18'
26'
26'
KINGSLAND-B 1,336 S.F. 45'
GARAGE SLAB
PORCH SLAB
SS SS
SS SS
9
OPEN SPACE
10' SIDE B.S.L.
9'
PR.MH OPEN SPACE
PATIO SLAB
PATIO SLAB 26'
KINGSLAND-A 1,336 S.F. 45'
GARAGE SLAB
SS
SS
18'
PATIO SLAB
26'
26'
KINGSLAND-C 1,336 S.F.
GARAGE SLAB
SS
B
26'
KINGSLAND-B 1,336 S.F. 45'
PORCH SLAB
PORCH SLAB
SS
SS
10' SIDE B.S.L.
C/O
PATIO SLAB
PATIO SLAB
C/O
45'
PORCH SLAB
TRIP
40'
25'
PATIO SLAB
GARAGE SLAB
GARAGE SLAB PORCH SLAB
25' FRONT B.S.L.
20'
45'
45'
GARAGE SLAB
ES
SS
C/O PR.MH
6
9'
45'
GARAGE SLAB
C/O
KINGSLAND-A 1,336 S.F.
SS
APARTMENT UNITS 12,242 S.F.
45'
KINGSLAND-C 1,336 S.F.
P CA
SS
B
7
26'
26'
KINGSLAND-B 1,336 S.F.
SS
3 B (26)TRACT: PROPOSED
30'
DS LAN
APARTMENT UNITS 12,242 S.F.
20' LANDSCAPE STRIP
PATIO SLAB
PATIO SLAB 26'
KINGSLAND-A 1,336 S.F.
20'
SS
10' REAR B.S.L.
SS
SS
PATIO SLAB
26'
18'
PATIO SLAB
OPEN SPACE PATIO SLAB
5'
KINGSLAND-C 1,336 S.F.
24'
5
PATIO SLAB
20
KINGSLAND-B 1,336 S.F.
SS
SS
9'
GARAGE SLAB
18'
SS
5' 44'
SS
9'
3 B (26)TRACT: PROPOSED
PR.8"DIP
PR.MH
18' 16'
SS
18'
54'
6
PROPOSED R.O.W.
24'
20' 60'
SS
SS
20
OPEN SPACE
PROPOSED R.O.W.
STRIP
C/O
18'
16'
5
18'
6
24'
20
20
PROPOSED 30' X 25' PLAY GROUND
(295) TOTAL SPACES
24'
OPEN SPACE 20' FRONT B.S.L./LANDSCAPE
SS
SS
PROPOSED R.O.W.
5 24'
9'
SS
SS
20 24'
5'
18'
20
9'
PATIO SLAB
SS
SS
9'
18'
18'
PROPOSED R.O.W.
PORCH SLAB
SS
APARTMENT ACREAGE = 6.63
KINGSLAND-A 1,336 S.F.
9'
PR.8"DIP
SS
20
(50) TOTAL SPACES
SS
18'
SS
SS
20
GARAGE SLAB
SS
5'
24'
PROPOSED DUMPSTER
'
50
'
SS
24'
20
9'
'
SS
18'
18'
20
D
'
50
'
SS
C
'
50
11
20
B
A
'
50
20
APARTMENT UNITS 12,242 S.F.
18'
E AC SP EN OP RIP PE ST DSCA /LAN
D
'
50
5'
10
E
D
20'
4C B (26)TRACT: PROPOSED
1.58 ACRES
B.S.L.
SS
C
18'
A
18'
20'
18'
SPAC
B
60'
C/O
OPEN
SS
APARTMENT UNITS 12,242 S.F.
60'
SS
C/O
D
OPEN SPACE
30'
SS
3C B (26)TRACT: PROPOSED
A
ONT
PR.MH
'
50
9'
SS
SS
SS
SS
OPEN SPACE
C
'
D
D
APARTMENT UNITS 11,100 S.F.
20
TRACT: 4 C B (24) PROPOSED
B
'
50
'
A A
P
SS
OPEN SPACE
5'
'
50
20
C
20'
'
50
8
'
D
APARTMENT UNITS 11,100 S.F.
18'
5'
20
B
9'
17
. .S.L RB CE EA PA 'R 15 NS E OP 5 T: D AC SE TR OPO S.F. IL PR ,000 RETA ' 10 E/ 20 FIC ' OF
PR.8"DIP
C/O
'
10' REAR B.S.L.
'
50 SS
20
D
A
DRIVE THUR
9'
'
3C B (24)TRACT: PROPOSED
40' 60'
18'
23
18'
8
20' FR
SS
PRO
T.
ESM
O
20
SS
515 9
CESS
& AC
N PE
STRI APE NDSC 20' LA B.S.L. ONT 25' FR
SS
A
A
.L.
PROPOSED R.O.W. SPACE
9'
12'
PR.MH
5'
OPEN SPACE
R/W
18'
9' 36'
THE RETREAT AT JASPER ASSISTED LIVING
E B.S
12
SS
OPEN SPACE
SS
C/O
SS
SS
9'
18'
OPEN SPACE
60'
10' SID
18'
SS
OPEN SPACE SS
SS
9'
24'
30'
D POSE
60'
24'
24' 18'
20
RENASANT BANK
20'
PR.MH
10' SIDE B.S.L. 10' SIDE B.S.L. 20
MOUNTAINSIDE PLAZA
8
18'
PROPOSED R.O.W.
PR.8"DIP
SS
15' REAR B.S.L.
PR.MH
10' SIDE B.S.L. 10' SIDE B.S.L.
PR.MH
SS
SS
STARBUCKS
4
SS
SS
SS
C/O
18'
OPEN SPACE
OPEN SPACE
18'
9'
SS
SS
INGLES MARKET
24'
9'
24'
SS
5
24'
TRACT: 2 PROPOSED 9,000 S.F. OFFICE/RETAIL
PR.8"DIP
(63) TOTAL SPACES
18'
SS
SS
5'
19
60' 20'
18'
PR.8"DIP
15' REAR B.S.L.
10' SIDE B.S.L.
8
OPEN SPACE
9'
20
OPEN SPACE
SS
18'
C/O
STRIP
(46) TOTAL SPACES
24'
1.56 ACRES
SS
SS
18'
TRACT: 1 PROPOSED 12,000 S.F. OFFICE CONDO
7 24'
SS
16
APE NDSC .L./LA ONT B.S
SS
9'
20' FR
SS
24' 18'
OPEN SPACE
24'
SS
15
36'
SS
9'
SS
24'
SS
18'
BUFFER
BUFFER
BUFFER
BUFFER
TOM KIRBO
tkirbo@skcr.com 678.429.5849
8
PROPOSED PROJECT RENDERINGS
MULTIFAMILY
OFFICE
MEDICAL
RETAIL
KEITH GUTHRIE
kguthrie@skcr.com 404.790.7271
TOM KIRBO
tkirbo@skcr.com 678.429.5849
9
MARKET OVERVIEW
SUBMARKET ANALYSIS PICKENS COUNTY RETAIL SUBMARKET Vacancy in the Pickens County retail submarket is 5.3% and has increased 3.2% over the past 12 months. During this period, there has been 45,000 SF of negative absorption, and 21,000 SF has been delivered. Total availability, which includes sublease space, is 5.7% of all inventory. Within this submarket, General Retail is the largest subtype, with 1.6 million SF in this category. Despite a substantial increase in available space, rents have increased 5.1% over the past year, to around $14.90/SF. In the past three years, rents have increased a cumulative 20.5%. About 26,000 SF is under construction, representing a 1.3% expansion of inventory. In the past 12 months, 10 sales have taken place. Sales have averaged $138/SF, and the estimated value for the submarket as a whole is $163/SF. Over the past three years, there have been 51 sales, which have traded for approximately $35.9 million. The market cap rate for Pickens County is 7.1%, moderately below its trailing three-year average of 7.6%. *Information gathered via CoStar market data
2.1M
INVENTORY SF KEITH GUTHRIE
kguthrie@skcr.com 404.790.7271
26K
UNDER CONSTR SF
(45.1K)
12 MO NET ABSORP SF
5.3%
VACANCY RATE
$14.93
MARKET RENT / SF
TOM KIRBO
tkirbo@skcr.com 678.429.5849
11
SUBMARKET ANALYSIS PICKENS COUNTY OFFICE SUBMARKET Vacancy in the Pickens County office submarket is 4.5%, which is the same level it was 12 months ago. Meanwhile, the rate of increase in the broader Atlanta market was 0.9%. During this period, 95 SF has been absorbed, and nothing has delivered. Total availability, which includes sublease space, is 5.9% of all inventory. Space rated 1 & 2 Star is the most dominant subtype, with 200,000 SF in this category, followed by 180,000 SF of 3 Star space. There is no 4 & 5 Star space in this submarket. Rents are around $21.00/SF, which is a 1.4% increase from where they were a year ago. In the past three years, rents have increased a cumulative 11.0%. This is also a very affordable submarket, relative to Atlanta as a whole, where average rents are $28.00/SF. There is nothing under construction, and nothing has delivered in the past three years There have been 8 sales over the past year. Over the past three years, there have been 20 sales, which have traded for approximately $3.8 million. The market cap rate for Pickens County is 9.0%, moderately above its trailing three-year average of 8.4%. *Information gathered via CoStar market data
378K
INVENTORY SF KEITH GUTHRIE
kguthrie@skcr.com 404.790.7271
0
UNDER CONSTR SF
95
12 MO NET ABSORP SF
4.5%
VACANCY RATE
$21.03
MARKET RENT / SF
TOM KIRBO
tkirbo@skcr.com 678.429.5849
12
SUBMARKET ANALYSIS PICKENS COUNTY MULTIFAMILY SUBMARKET Pickens County is a very small submarket within the larger Atlanta market, with just 279 units of inventory. While it is modestly sized, there have been 3 sales and 24 units added in the past decade. Space rated 3 Star is the most dominant subtype, with a total number of 199 units in this category, followed by 80 units of 1 & 2 Star space. There are no units in the 4 & 5 Star classification in this submarket. *Information gathered via CoStar market data
279
INVENTORY UNITS KEITH GUTHRIE
kguthrie@skcr.com 404.790.7271
0
(9)
UNDER CONSTR UNITS 12 MO NET ABSORP SF
6.0%
VACANCY RATE
$1,222
ASKING RENT / UNIT
TOM KIRBO
tkirbo@skcr.com 678.429.5849
13
DEMOGRAPHICS 5 MILES
10 MILES
POPULATION 2023
16,650
44,120
PROJECTED POPULATION 2028
17,383
44,120
PROJECTED GROWTH RATE: 2023-2028
0.9%
1.2%
# OF HOUSEHOLDS 2023
6,250
16,714
PROJECTED # OF HOUSEHOLDS 2028
6,512
17,686
MEDIAN HOME VALUE
$216,772
$255,771
AVERAGE HOUSEHOLD INCOME
$73,612
$88,865
MEDIAN AGE
42.6
46.3
EMPLOYMENT RATE
94.8%
94.9%
BACHELOR’S DEGREE OR HIGHER
16%
25%
*Information gathered via CoStar and Placer.AI market data
KEITH GUTHRIE
kguthrie@skcr.com 404.790.7271
TOM KIRBO
tkirbo@skcr.com 678.429.5849
14
KEITH GUTHRIE
Senior Vice President kguthrie@skcr.com 404.790.7271
TOM KIRBO
President tkirbo@skcr.com 678.429.5849
THANK YOU
404.252.1200 // www.skcr.com 900 Circle 75 Parkway #720, Atlanta, GA 30339