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Asset Snapshot
Investment Highlights
Offering Summary
Brokered by Marcus & Millichap and powered by RealINSIGHT Marketplace, Cumberland Place at 2997-2999 Cumberland Blvd SE, Atlanta, GA 30339 is a 33,600-square-foot, multi-tenant retail center on 2.63 acres less than one mile from The Battery Atlanta and Truist Park. Built in 1996, the center is 56% occupied after more than a year in REO without professional management, leaving six vacant suites totaling 14,900 square feet. In-place tenancy is led by Carrabba's Italian Grill, which has occupied its 6,400-square-foot space since 1996 on a lease running to July 2036 with scheduled increases, and Bharath Bazaar, a 7,500-square-foot grocer through February 2031. Tenants reimburse their pro rata share of CAM, insurance, taxes, and management. In-place rents sit below area market rents of $34 per square foot NNN, and near-term rollover at two shop suites presents mark-to-market potential. Lease-up of the vacant suites, which range from 1,600 to 4,800 square feet, is the primary value-creation lever for a new owner. The site fronts Cumberland Blvd SE (19,100 VPD) near I-285 and I-75 within a one-mile radius holding 3.2 million square feet of retail, and developers have tied up adjacent land for a mixed-use project including 650 apartments and a 250-key hotel.
Due Diligence
Location
Cumberland Place fronts Cumberland Blvd SE in Atlanta's 30339 ZIP code, just off Cobb Parkway and beside the I-285 corridor. The Battery Atlanta and Truist Park sit less than one mile away, with Cumberland Mall, Cobb Galleria Centre, and Cobb Energy Centre nearby. A daytime population of 42,648 within one mile supports demand for the center's restaurant, grocery, and service tenants.
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Disclaimers
The information being provided herein is for informational purposes only. No representation or warranty is made as to the accuracy or completeness of any information contained herein, including, without limitation, any information regarding the condition of the Property, the condition of title or Property descriptions. Any documents and/or pictures posted herein or elsewhere on the RealINSIGHT Marketplace (the "Website") are for informational purposes only, and may not represent the current condition of the Property or the condition of the Property at the time of sale. The posting of pictures herein or elsewhere on the Website does not constitute a guarantee that any items represented in the pictures will be present when the buyer takes possession of the Property. You are encouraged to conduct your own due diligence and investigate all matters relating to the Property. It is recommended that you seek independent advice, including legal advice, to perform your due diligence and that you use good faith efforts in determining that the content of all information provided to or obtained by you is accurate.
