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31479019
31479020

1100 Altmore Ave, Sandy Springs, GA 30342

LS
FL FL SL 629661, NC NC LC152
Marcus & Millichap - Fort Lauderdale
Listed by Marcus & Millichap - Fort Lauderdale
$19,700,000
54 days on market
Updated 27 days ago

Chamberlain University College of Nursing

Details
Property Type Special Purpose
Sub Type School
Square Footage 65,221
Cap Rate 7.00%
NOI $1,380,076
Occupancy 100%
Tenancy Single
Lease Type NNN
Lease Term 24.3
Lease Expiration 11/30/2035
Remaining Term 9.5
Rent Bumps Yes
Lease Options 2 at 5 Years
Price per SqFt $302
Broker Co-Op Yes
Year Built 1976
Year Renovated 2023
Buildings 1
Stories 3
Acreage 1.210
Lease Commencement 08/01/2011
Occupancy Date 08/01/2011
Ground Lease No
Loading Docks 1

Prime Atlanta Net Leased | 7% Cap | Increases | Below Market Rent

Marketing description

The Chamberlain University College of Nursing is strategically located within Atlanta’s predominant healthcare corridor, one of the most established and dense medical clusters in the Southeastern United States. The immediate area is home to Northside Hospital, Emory Saint Joseph’s Hospital, and Children’s Healthcare of Atlanta, which collectively anchor the submarket’s healthcare ecosystem. The depth of healthcare infrastructure in the immediate vicinity, with hundreds of physician practices, outpatient facilities, and support services, provides a direct pipeline for clinical placements, partnerships, and student demand.

The property is located within the Altmore Perimeter campus, a premier mixed-use project, currently in development, designed to create a walkable, transit-oriented environment in the heart of Central Perimeter. Once completed the campus will include approximately 560,000 square feet of Class A office space, a newly delivered 186-key Hyatt House hotel, curated food and beverage offerings, and a 230,000 square foot office tower, with future multifamily planned around a central activated plaza.

The asset has been leased since 2011 to Adtalem Global Education Inc. (rebranded to Covista as of February 2026), a publicly traded education provider focused on healthcare and professional programs. Covista has demonstrated strong financial performance, supported by consistent enrollment growth and increasing demand for healthcare education, with recent reporting indicating double-digit enrollment gains and projected annual revenues exceeding $1.7 billion.

Investment highlights

  • NNN Lease with 9+ Years Remaining

  • 2.5% Annual Rent Increases

  • Below Market Rent of $21.16

  • Located within the Altmore Perimeter Campus, a Premier Mixed-Use Project, Currently in Development, with Office, Hospitality, and Retail Components

  • Well positioned in Sandy Springs, a regional hub for healthcare with 40% of all hospital beds in the Metro Atlanta Area. The immediate area is home to Northside Hospital, Emory Saint Joseph’s Hospital, and Children’s Healthcare of Atlanta.

  • Chamberlain University is One of the Largest Providers of Nursing Education in the United States

  • Enhanced Medical Buildout with Labs and Control Rooms

  • Coveted Location in "The Perimeter" Along I-285 and GA-400 with Traffic Counts of Over 218,000 VPD

Listing Contacts

LS
FL FL SL 629661, NC NC LC152
Marcus & Millichap - Fort Lauderdale
Listed by Marcus & Millichap - Fort Lauderdale

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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$1,380,076.00
$115,006.33/mo

Valuation Metrics

0
DSCR
7.01%
Cap Rate
7.01%
ROI

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Additional Information

Name
John Leonard
License
252904
Brokerage
Marcus & Millichap
Title
Broker of Record
Brokerage Address
1100 Abernathy Rd, NE, Atlanta, GA 30328
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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