9249 Hwy 29 South
Office | 6.91% CAP | 13,168 SqFt
Marketing description
The subject property is located Northeast of downtown Athens, GA with direct frontage on US Highway 29 with more than 16,000 vehicles passing by the site each day.
The Athens area offers residents and visitors easy access to a range of amenities, including shopping centers, restaurants, schools, and recreational facilities. As a college town, Athens is home to the University of Georgia, is a vibrant city known for its rich history, a lively arts scene, and anchors a population of 395,000 residents within the MSA.
The area immediately surrounding the property features a mix of residential and commercial properties, providing a blend of urban convenience and suburban tranquility. The property is adjacent to a shopping center that contains a grocer, pharmacy, bank, Starbucks, and is located within close proximity to essential services such as hospitals, public transportation, and other desirable amenities.
Investment highlights
Owners are pleased to present the fee-simple ownership of 9249 US-29 S, Athens, Georgia. This 13,168 square foot, single-tenant medical office building leased to the GSA has served as a Veterans Administration Community-Based Outpatient Clinic since 2007.
• Commencing on June 1, 2023, the lease structure is gross and has 9+ years of "Firm Term" remaining before expiration in February 2033.
• This lease with the GSA is backed by the United States Government which maintains S&P Rated AA+ Credit.
• The competitive lease structure boasts annual expense adjustments based upon CPI-W and annual Property Tax Adjustments.
• The current owner has operated and proactively maintained this asset as if it would be held for multiple decades with nearly zero exposure to deferred maintenance.
• Tenant invested $106,797.00 into the IT infrastructure of the building in 2022.
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