| PRICE : | $5,300,000 |
|---|---|
| CAP RATE: | 6.7% |
| PROPERTY TYPE: | Office |
| SITE SIZE: | 3.82 Acres |
| BUILDING SIZE: | 37,000 SF |
| YEAR BUILT: | 1989 |
Highlights
- • Pro forma annual return on cash investment exceeds 70%
- • ±37,000 SF office park in one of the fastest growing Atlanta suburbs
- • Fayette County is the 3rd highest avg. household income in GA - $122,014
- • 10.4% proforma cap rate on rents to demonstrable market
- • Ease of operation with only 1 part time independent contractor managing
- • Comparable small spaces vacancy rate 1.7%, submarket vacancy rate is 5.1%
- • Consistently 100% occupied even through Covid
- • 10 minutes from Atlanta airport
Description
Bull Realty is pleased to present the opportunity to acquire a fully occupied ±37,000 SF small suite office park. The property is easily operated - like apartments with preset fixed suites without the pool, kitchen, pets, appliances, shower, kids. Great upside at a 6.7% cap rate on in place rents that are approximately 40% below market as demonstrated on pages 15, 16, 17 and 18.
The property consists of 33 office suites ranging between 650 and 3,000 SF. It is well located in one of the most prosperous and fastest growing counties in Georgia - average household income of $122,014. Home to 30 international companies, headquarters to many of those, and headquarters to many national companies.
