Listed by Newmark - Atlanta - 3455 Peachtree Road
$3,810,000
1680 Phoenix Boulevard
Details
Property Type Office
Sub Type Traditional Office, Medical Office
Square Footage 28,275
Cap Rate 8.25%
NOI $314,280
Occupancy 100%
Tenancy Single
Lease Type Modified
Lease Expiration 03/31/2032
Remaining Term 5.7
Rent Bumps Yes
Price per SqFt $135
Class B
Year Built 1989
Buildings 1
Stories 2
Acreage 1.810
Investment Type Stabilized
Tenant Credit Credit Rated
Office | 8.25% CAP | 28,275 SqFt
Marketing description
1680 Phoenix Boulevard serves as the operational headquarters for Georgia's Vital Records Division, where the State processes, maintains, and issues birth, death, marriage, and divorce records for residents across all 159 Georgia counties, supporting a mission-critical governmental function.
Investment highlights
- Georgia State Office of Vital Records - Serves as the central repository for the entire State of Georgia serving all 159 counties
- AAA Credit - The State of Georgia maintains the highest possible credit rating
- 100% Utilization - Physical occupancy with operations Monday - Friday, 9:00 AM-4:00 PM.
- Below Market Rent - In place rents of $12.70 vs Market rents of $20, a 36.5% Mark to market opportunity
- High Yield, Low Basis - 8.25% Cap at $135 PSF offering predictable income and downside protection via low basis
Listing Contacts
Listed by Newmark - Atlanta - 3455 Peachtree Road
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$314,280.00
$26,190.00/mo
Valuation Metrics
0
DSCR
8.25%
Cap Rate
8.25%
ROI
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