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Medical Office Investment Opportunity | 31,399 SF

1270 Prince Avenue
Athens, GA 30606
PRICE : $7,500,000
PROPERTY TYPE: Office
SITE SIZE: 1.63 Acres
BUILDING SIZE: 31,399 SF
YEAR BUILT: 1987

Highlights

  • 38,258 SF medical office building directly in front of Piedmont Athens Regional Medical Center and just one mile from downtown Athens, Georgia.
  • Three-story, all brick exterior with white columns and grand front entrance harmonizes with surrounding architecture in The Classic City, home of the oldest public university in the country.
  • Only 1.5 miles from the main campus of the University of Georgia, the largest university in the state with a total enrollment of 38,473 students.
  • Prestigious Prince Avenue address in the middle of the medical trade area in Athens and only 0.2 miles from University of Georgia's Health Sciences Campus.
  • Two parcels total 1.63 acres with 117 parking spaces. Employees of Athens Regional Medical Clinic (largest tenant in the building) park at the hospital across the street. A new 4 story public parking garage is under construction on the adjacent parcel.
  • Piedmont Healthcare occupies entire the entire first and second floor (21,080 SF)
  • Successful, month-to-month tenant occupies 2,120 SF freestanding restaurant on second parcel. Could be signed to longer lease or torn down to improve parking ratio if needed.
  • New roof, gutters, windows, paint and several new HVAC units

Description

UPDATE: Since this property was originally presented to the market Piedmont Healthcare has executed a NNN lease for the entire first and second floors. The building has some major maintenance work underway including a new roof, gutters, windows, paint and some HVAC units. A new 4 story public parking garage is under construction on the adjacent parcel.

1270 & 1280 Prince Avenue are located across the street from Piedmont Athens Regional Medical Center and are in very close proximity to The University of Georgia, undoubtedly a high demand creditable location. Other highlights of this immediate market include downtown Athens and St. Mary’s Health System. The property is clearly located within the medical corridor and is just one block east of UGA's Health Sciences Campus.

Since this property was originally presented to the market Piedmont Healthcare has executed a NNN lease for the entire first and second floor. In addition, the building has some major maintenance work underway to include a new roof, gutters, some windows, and some HVAC units.

This is a tremendous opportunity for an investor. Piedmont Healthcare now occupies all of the space on the first and second floor. The third floor is comprised of smaller medical tenants with under-market rents and short term leases.

If you would like to pursue this opportunity please return the Confidentiality Agreement on the last page of this Offering Memorandum. Once received, we will forward you property financials and any other requested items to be used as a template for your underwriting.

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