Listed by Bull Realty
$6,350,000
Single-Tenant | 8.4% Cap Rate | State of Georgia Tenant
Details
Property Type Office
Sub Type Traditional Office, Government
Square Footage 14,579
Net Rentable (SqFt) 14,579
Units 70
Cap Rate 8.40%
NOI $537,518
Occupancy 100%
Tenancy Single
Lease Term 15
Lease Expiration 01/31/2040
Remaining Term 13.5
Price per SqFt $436
Year Built 1984
Year Renovated 2024
Buildings 1
Stories 1
Acreage 1.130
Zoning HI
Parking Spaces 70 spaces
Parking per 1,000 SqFt 4.80
Lease Commencement 02/01/2025
Single-Tenant | 8.4% Cap Rate | 13-Year Lease | State of Georgia Tenant | AAA Credit
Marketing description
Opportunity to acquire a renovated, long term state government leased facility in Morrow, a popular Atlanta submarket. The lease is fully guaranteed by the AAA credit of the State of Georgia.
The facility was renovated in 2024 for the Georgia Department of Community Supervision (DCS). Extensive remodeling plus capital improvements including HVAC, parking lot and a new roof were completed to suit the tenant.
DCS is an essential service facility managing community supervision through a network of 55 field offices across the state. The property is well located in the main commercial and retail area of Morrow. Morrow is a popular bedroom community in the Atlanta area MSA.
Listing Contacts
Listed by Bull Realty
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$537,518.00
$44,793.17/mo
Valuation Metrics
0
DSCR
8.46%
Cap Rate
8.46%
ROI
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