Commercial retail development will soon break ground in Riverdale, Ga, presenting an excellent opportunity with great incentives to own a dine-in restaurant on Georgia Highway 85.
Clayton County is the land of opportunity, and there is no better time to take the leap with all of the available resources in Clayton to help you achieve your business and investment goals.
Being involved in my community, I have heard Clayton residents continually express the desire to have a variety of eating options similar to restaurants found on the northside. As an entrepreneur, I know it’s easier to talk about what we want than it is to make it happen in our community. Truth be told, we invite the big-box retail investors into our community but our residents also make good investors. The people who live here know first-hand the needs of our community.
With the help of local banks and the idea of forging partnerships with others, owning a piece of your neighborhood is well within reach. It just takes determination, creativity, and getting to know the right people such as Realtors, lenders, developers, employees in the county’s Planning and Zoning Office, the Clayton Chamber of Commerce, Invest Clayton, and our elected commissioners.
I am inspired by a story I read about a group of Portland residents who pooled their money together to form a Community Investment Trust. They used the Trust to purchase a commercial establishment in their neighborhood. Not only did they acquire the business with those funds, but annual dividend payments were made to the individuals and families who invested. Click here to read the story.
Your Opportunity to Own a Dine-In Restaurant in Riverdale
There are plenty of fast-food chains in Riverdale and in other parts of Clayton but not enough dine-in restaurants. Consequently, southside residents have to venture out to neighboring counties or downtown Atlanta to enjoy a meal with family and friends.
With a population of 289,615 residents, a median household income of $46,646, and a median age of 32 (as of 2018), there are more than enough people to support moderately-priced restaurants such as casual dining, contemporary casual, family-style eateries, buffets, and others. Whether you have an existing restaurant you want to expand or a start-up, this opportunity is yours for the taking,
The possibilities in Clayton County are endless. We have land. We have the people and the resources. Now we need committed entrepreneurs and investors to turn their dreams into reality. Is that you?
The Riverdale Restaurant Opportunity Unveiled
With the recent zoning approval of GB – General Business District, a local developer has closed on land in Riverdale on GA Highway 85 and Webb Road, which is approximately 4 miles from the I-75 exit. The official address, though not yet marked, is 8060 Highway 85, Riverdale, GA 30274. The commercial developer will soon break ground on a retail center and gas station near the corner, leaving a 600 feet frontage on GA Highway 85 for a dine-in restaurant. According to the Georgia Department of Transportation, the traffic count along GA Highway 85 is approximately 42,000 in Clayton, reaching into Fayette County. All utilities are available, including the sewer. There will be two entrances into the development – one entrance access off Highway 85, and the other entrance off Webb Road. However, the buyer of the restaurant parcel will have the option to create a second entrance off of Highway 85 for direct access to the restaurant’s parking. The buyer can purchase the 1.52 acres outright to begin building the restaurant, or the owner will consider owner financing or a land lease agreement. The list price for the parcel is $450,000.
What types of restaurants could work in this space?
During the zoning approval process, The Clayton County Board of Commissioners expressly indicated that no fast-food establishments would be allowed on this parcel based upon zoning guidelines. County leaders desire to move the county forward by making quality amenities available to its residents.
If this opportunity sounds right for you, click here for a list of potential restaurant chains to help you brainstorm.
Business Incentives to Get You Started
Clayton County is considered a “Tier 1 Georgia County,” which means that any business, small or large, that is locating to Clayton can qualify for the Job Tax Credit. This tax credit provides $4,000 per job created for up to five (5) years. This incentive applies all over the county. Plus, according to the senior business development manager of Invest Clayton, Erica Rocker-Wills, “Clayton County boasts its own Water Authority for restaurants or heavy water users, and rates can be negotiated for volume users on new development.” For more information about these incentives, contact Clayton Economic Development at 770-477-4450.
The bottom line is this: We must eat to sustain ourselves, and some of us enjoy eating out occasionally, or a lot! Individuals and families can step up to own a piece of their own neighborhood, individually or in partnership with others. With the option for owner financing or leasing the land, this Restaurant Opportunity in Riverdale can open a world of opportunity for your benefit, and the community. You just have to seize the opportunity to begin!
If you are interested in owning or investing, please contact me, Altimese Dees, Listing Agent/ Broker for The Real Estate Gallery of Georgia. I can be reached at 770-217-7518; or email: email@example.com.