208 Pirkle Ferry

SUBURBAN DOWNTOWN
DEVELOPMENT OPPORTUNITY

208 Pirkle Ferry Road
Cumming, Georgia 30040

+ 3.93 Acres
Property Information Report

May 21, 2021

WE Real Estate Advisors, 107 W Courthouse Square, Suite 110, Cumming GA 30040

www.WERealEstateAdvisors.com

Executive Summary

Overview
The platted property at 208 Pirkle Ferry Road is located in a unique geographic location, within
the city limits of the City of Cumming, Georgia.
The site is positioned with direct access on Pirkle Ferry Road (Exit 15 of GA 400), approximately
3050’ from the Interchange. This Exit has been identified as the “gateway” into Cumming, and
Pirkle Ferry Road becomes Main Street in downtown Cumming just 3 blocks to the West.
On site, an existing two-story 10,000SF office building is currently leasing at $20-23 per SF.
Other nearby existing office condo developments are leasing at $17-$19 per SF.
Overall, the existing Office product in this area is over 85 percent occupied, and demand remains
high even as lease rates have pushed up from $13/SF to over $20/SF in recent months.
The existing building is not for sale, but the Owner is open to selling the other remaining parcels.
Development of the remaining parcels needs to be done cohesively, due to the shared parking
and access requirements for each lot. See the Survey in this package.
Four large (50 to 100+ acres each) mixed-use projects are in various stages of development
within 1 mile of this site. These include some multi-story Class A office in medical and other
professional sectors, Apartments and age-restricted residential units (55+), which are all in high
demand in this market.
Residential townhome and condo flats have recently been zoned and are looking to price in the
$300,000 to $400,000 range.
The current zoning for the subject property is NS – Neighborhood Shopping District. The Future
Land Use Map shows Office-Professional.

Proposed Use
The 2017 proposed site plan shows five buildings offering a total of 43,600SF of total Office
space with 33,600SF remaining to be constructed, plus one building of 4,500SF as a Restaurant.
The best use of the space today may be to develop professional offices with vertically integrated
residential units, with the restaurant or other retail remaining in the mix.

WE Real Estate Advisors, 107 W Courthouse Square, Suite 110, Cumming GA 30040

www.WERealEstateAdvisors.com

Aerial View

EXIT 15

SITE

WE Real Estate Advisors, 107 W Courthouse Square, Suite 110, Cumming GA 30040

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Property Location

SITE

The four-parcel property is located in thriving Forsyth
County, Georgia, just 3 blocks East of downtown
Cumming, on Pirkle Ferry Road and less than 1 mile
from GA400.
These parcels enjoy a prime location with high
visibility from traffic entering the downtown square
area from Ga400 at Exit 15 (Bald Ridge Marina Rd).
Although access is right-in/right-out only, there are
nearby streets for directional changes to/from
Ga400, Pilgrim Mill Road, and the downtown square.
The City of Cumming is in Forsyth County, one of the
fastest growing in the U.S., approximately 30 miles
north of I-285, the “Perimeter Highway” around the
City of Atlanta.

WE Real Estate Advisors, 107 W Courthouse Square, Suite 110, Cumming GA 30040

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Proximity to Downtown Cumming

SITE

The downtown business district of the City of Cumming, which is the
Seat of Forsyth County, Georgia, lies just 3 blocks to the West of the
property. The large building shown on this aerial photo include the
Forsyth County Courthouse and Jail, County Administration Offices,

WE Real Estate Advisors, 107 W Courthouse Square, Suite 110, Cumming GA 30040

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Nearby Major Development Projects

12 EXIT 15

SITE 3

Downtown
Cumming

4

Lake Lanier

EXIT 14

MAP Development + Development Highlights*
1 Name Acres
2 117,000SF Retail; Amphitheater; Green Space & Water Features;
3 Cumming City 75 and new City municipal facilities
4 Center
153 [Proposed by Lennar Homes; not yet approved] +800 Resi Units
Master Planned 55 including Apts, THs, 55+ Homes; and +35,000SF Commercial
Community 50
+290 Resi Units; Hotel; Wellness Center; 190,000SF Commercial
Westshore
+430 Units (320 for lease); 90,000SF Storage; 68,000SF Retail/Flex
Mashburn Village

WE Real Estate Advisors, 107 W Courthouse Square, Suite 110, Cumming GA 30040

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Traffic Counts

SITE

The most recent available GDOT
traffic count closest to the property
(from 2019) was 13,800
westbound on Pirkle Ferry from
Ga400, towards the downtown
Cumming square and Main Street.

WE Real Estate Advisors, 107 W Courthouse Square, Suite 110, Cumming GA 30040

www.WERealEstateAdvisors.com

Future Land Use Map (City of Cumming)

SITE

▪ = Office - Professional

WE Real Estate Advisors, 107 W Courthouse Square, Suite 110, Cumming GA 30040

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NS Zoning Information

ARTICLE I, NEIGHBORHOOD SHOPPING DISTRICT (NS):

12-1.1 Purpose and Intent. Several areas have been designated as appropriate for development as
neighborhood activity centers. Some neighborhood activity centers exist and are developed or developing
according to a conventional automobile-dependent model for suburban shopping centers. It is the intent of
the County that existing neighborhood shopping districts be encouraged, as additional development and
redevelopment occurs within them, to be retrofitted as neighborhood activity centers, consistent with design
guidelines for activity centers specified in this Chapter. New neighborhood shopping districts may be
established around intersections indicated on the Comprehensive Plan, Land Use Element, subject to
conformance with design guidelines for activity centers specified in this Chapter.

Neighborhood shopping districts are activity centers that provide convenient commercial developments that
serve residential areas within an approximate one-half mile radius. Generally, the uses permitted to locate
in NS districts are those that have an economic threshold of 5,000 population or less. Some uses that are
not retail or service in nature are also allowed so a variety of uses may locate in existing buildings. In any
given location, NS districts are not intended to exceed ten acres of land or a total gross leaseable floor
area of more than 75,000 square feet, and in many cases, they are not that large in area or square footage.
Individual establishments do not exceed 10,000 square feet. Neighborhood shopping districts contain uses
of low intensity when compared to urban village districts and commercial business districts.

This district is to intended to discourage the random sprawl of commercial development by concentrating
neighborhood-serving businesses in activity centers at road intersections rather than in a strip or linear
pattern, and to limit commercial and other uses to those that do not compete with the continued
development of urban villages.

Objectives of the neighborhood shopping district are to encourage new smaller-scale activity centers that
have definable edges, to locate shops and services at high visibility places, and to require that new
buildings respect the scale and design of existing neighborhoods and fit into the streetscape. Some of the
residential areas served by neighborhood shopping districts are within walking distance, and therefore,
pedestrian access is facilitated and offstreet parking is restricted.

Development within the NS district is subject to the general site development and design regulations and is
further encouraged to adhere to the design guidelines for activity centers.

12-1.2 Permitted and Conditional Uses. As provided in Table 12.1; and subject to the following
provisions which apply to all uses in this district: (A) A conditional use is required for any establishment
conducting around the clock business hours. Certain specific uses are regulated by Chapter 16.

12-1.3 Performance Standards. As provided in Table 12.2.

12-1.4 Site Development Regulations. As provided in Chapter 12, Article 10. In addition, development
within the NS district should adhere to the design guidelines for activity centers as specified in Chapter 13.
However, newly established NS districts are expected to substantially conform to the design guidelines for
activity centers.

WE Real Estate Advisors, 107 W Courthouse Square, Suite 110, Cumming GA 30040

www.WERealEstateAdvisors.com

Tax Record Detail

Parcel Number C26 048
Location Address 208 Pirkle Ferry Rd, Cumming 30040
Legal Description 3-1 1268
Property Class C3 – Commercial Lots
Neighborhood C1501
Tax District 1
Zoning NS
Acres 3.93
Owner Juna Holdings LLC
Owner Address 5805 State Bridge Rd Suite L, Duluth GA 30097

Assessment Information:

LUC 2021 2020
Class
+ Land Value 0353 0353
+ Building Value C3 C3
= Total Value
Assessed Value $ 778,140 $ 778,140
$ 529,560 $ 529,560
$ 1,307,700
$ 523,080 $ 1,307,700
$ 523,080

WE Real Estate Advisors, 107 W Courthouse Square, Suite 110, Cumming GA 30040

www.WERealEstateAdvisors.com

2020 Tax Notice

WE Real Estate Advisors, 107 W Courthouse Square, Suite 110, Cumming GA 30040

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Survey / Plat

WE Real Estate Advisors, 107 W Courthouse Square, Suite 110, Cumming GA 30040

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Proposed Site Plan

WE Real Estate Advisors, 107 W Courthouse Square, Suite 110, Cumming GA 30040

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City Demographics

Demographics shown are for the areas noted radiating from the City of Cumming downtown square, using
101 E Courthouse Square as the center point (approx. 3 blocks from the property).

The rate of change since 2010 was 3.52% annually. The five-year projection for the population in the area
is 113,798 representing a change of 3.28% annually from 2020 to 2025. Currently, the population is 49.6%
male and 50.4% female.

2020 1 Mile 3 Mile 5 Mile

Population 4,428 35,920 96,830
Households (“HH”) 1,503 12,975 33,626

Avg HH Size 2.67 2.72 2.86
Median HH Income $ 51,325 $ 86,090 $101,451
Average HH Income $ 74,460 $112,569 $131,164

2025 1 Mile 3 Mile 5 Mile
Population 4,971 42,198 113,798
Households (“HH”) 1,717 15,271
Avg HH Size 39,476
Median HH Income 2.63 2.72 2.87
Average HH Income $ 54,844 $ 93,672
$ 79,844 $122,933 $107,212
$143,259

2020 Household Income
(5 Mile Radius)

Source: U.S. Census Bureau, Census 2010 Summary File 1. ESRI forecasts for 2020 and 2025.

WE Real Estate Advisors, 107 W Courthouse Square, Suite 110, Cumming GA 30040

www.WERealEstateAdvisors.com

City Demographics

WE Real Estate Advisors, 107 W Courthouse Square, Suite 110, Cumming GA 30040

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Forsyth County, Georgia

www.FoCoChamber.org

Cumming and Forsyth County, Georgia are consistently ranked among the most desirable communities in
the nation. World class schools, nationally recognized parks, over 200 miles of lake shoreline, the lowest
property taxes in the region, and a vibrant business community are the primary factors that earn the
community accolades year after year.
Top 10 Communities in America (#1 in Georgia) for Incoming Investment
- Smart Asset
Top 20 Fastest-Growing Counties in America (& #1 in Georgia)
- US Census
Top 20 Affluent Counties in America (#1 in Georgia)
- US Census
Most Innovative Community in Georgia
- Innovation Index: Technology Association of Georgia
Top 10 Cities to Start a Business
- NerdWallet.com
Healthiest County in Georgia
- University of Wisconsin Population Health Institute
Top 10 Most Charming Towns in Georgia
- Travel Magazine
Top 10 Fastest-Growing Counties in America
- CNNMoney.com
Top 20 Wealthiest Counties in America
- Forbes.com
Top 100 Best Communities for Young People
- America’s Promise/Alliance for Youth

Source: Forsyth County Chamber of Commerce

WE Real Estate Advisors, 107 W Courthouse Square, Suite 110, Cumming GA 30040

www.WERealEstateAdvisors.com