Receiver Sale: Cumberland Place | Lease-Up Near The Battery

Starting Bid: $2,500,000

Auctioneer: Lamar P. Fisher

Auctioneer Company: Fisher Auction Company Inc.

Auctioneer License: AUNR003157

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.

14,900 SF of Vacancy Across Six Suites: Vacant suites range from 1,600 to 4,800 SF, creating a direct lease-up path to stabilize the center.

In-Place Rents Average $23/SF vs $34 Market: Princess Hair rolls in June 2027 with no option and Elysian Nails in January 2028, enabling resets.

Carrabba's Restaurant Lease Through July 2036: Tenant has occupied 6,400 SF since 1996, with annual rent increases scheduled through the term.

Bharath Bazaar Grocer Lease Through 2031: Specialty grocer occupies 7,500 SF, or 22.3% of GLA, with one five-year renewal option remaining.

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