Value Add Indus 12,000 SF 87.5% Occup Credit Tenant 50%
Conyers Small Bay Indus | 12,000 SF | 87.5% Leased | National Credit Anchor
Marketing description
For sale is 1303-1305 Olympic Court, a 12,000 square foot, two-building, four-unit office-warehouse property situated on 1.11 acres zoned industrial in Conyers, Georgia. The property is located 1.3 miles from I-20 Exit 80 in Rockdale County, approximately 25 miles east of downtown Atlanta.
The property is 87.5% leased across three of four units and generates in-place NOI of $81,062, reflecting a 4.92% cap rate on the $1,649,000 asking price. Stabilized NOI is projected at $108,708 (6.59% cap) by Year 3 as below-market gross leases roll to market NNN rates and a 1,500 SF vacancy is leased.
The 1303 building (6,000 SF / 50% of GLA) is 100% leased to Single Source Inc., a subsidiary of National Coatings & Supplies, a national automotive paint and coatings distributor. Single Source has been a tenant since 2020 and recently renewed through October 31, 2030 under a gross lease with two 10% rent escalations on November 1, 2027 and November 1, 2029. The lease includes a fenced outdoor storage yard adjacent to the building and a two-year renewal option at market upon expiration.
The 1305 building contains three units under gross leases at $9.00-$12.80/SF compared to a current market range of $12.00-$13.00/SF NNN:
- 1305-A (1,500 SF): H.E. Ragan Inc., expires 3/31/2027; pro forma at market NNN 4/1/2027.
- 1305-B (1,500 SF): vacant, move-in ready with 500 SF office build-out; underwritten at $12.50/SF NNN with lease-up in Q4 2026.
- 1305-C&D (3,000 SF): Aggregate Plant Products, tenant since 2018, expires 6/30/2026; renewal or re-tenant at $12.50/SF NNN. Tenant maintains all interior systems including HVAC, plumbing, and electrical, reducing landlord's repairs and maintenance.
All figures are estimates base on the above assumptions. Buyers should verify all information independently.
Investment highlights
• National Credit Anchor — Single Source Inc. (National Coatings & Supplies subsidiary) leases 50% of GLA through 10/31/2030 with 10% escalations in Nov 2027 and Nov 2029. Tenant since 2020.
• Below-Market Rents with Near-Term Rollover — 1305 building leased at $9.00-$12.80/SF gross vs. $12.00-$13.00/SF NNN market. Aggregate Plant (3,000 SF) rolls 6/30/2026; Ragan (1,500 SF) rolls 3/31/2027.
• Immediate Lease-Up Opportunity — 1,500 SF suite (1305-B) vacant and move-in ready with 500 SF office build-out. Underwritten at $12.50/SF NNN with Q4 2026 absorption.
• In-Place 4.92% Cap / Stabilized 6.59% Cap — In-place NOI $81,062 growing to $108,708 by Year 3 as gross leases convert to NNN and vacancy absorbs.
• Functional Specs — 16' clear height, six 12'W x 14'H grade-level doors, 3 phase power, two fenced outdoor storage yards, light industrial zoning.
• I-20 Access — 1.3 miles from I-20 Exit 80; 25 miles from downtown Atlanta; 35 miles from Hartsfield-Jackson International Airport.
Listing Contacts
Valuation Calculator
Valuation Metrics
Broker Selected Comps View More Comps
Property History
Similar Properties
Additional Information
Is there information that looks off?
