For Sale
$4,500,000

1700 Water PlAtlanta, GA 30339

Atlanta Office Building, High Growth Potential

Overview

Added:
Dec 11, 2024
Days on market:
115
This three-story, 37,796 square foot office building in Atlanta, Georgia, presents a compelling acquisition opportunity. Located on a 2.67-acre lakefront site at 1700 Water Pl SE, Atlanta, GA 30339, this property boasts a prime location near Truist Park and The Battery mixed-use development. Currently 49% occupied with nine tenants, the building offers an average rent of $17.69 per square foot, significantly below market averages of $20.57 per square foot in the Cumberland Galleria submarket. Recent improvements include renovations to common areas, bathrooms, and the 148-space parking lot, enhancing leasing potential and tenant retention. Built in 1984, this multi-tenant office building is priced at $4,500,000, or $119.06 per square foot. The property benefits from its proximity to major attractions and a thriving suburban market experiencing strong population and job growth, making it an ideal investment for those seeking to capitalize on the increasing "back to office" trend and limited new supply. This presents a unique chance to acquire a well-maintained asset at a price point below replacement cost in a high-demand area.

Highlights

  • $4,500,000 asking price for a 37,796 square foot office building in Atlanta, GA.
  • Recently renovated common areas, bathrooms, and parking lot.
  • 49% occupancy with average rents of $17.69 per square foot.
  • Excellent location near Truist Park and The Battery mixed-use development in the Cumberland/Galleria area.
  • High growth potential in this desirable Atlanta suburban market.

Property Details for 1700 Water Pl

Property type
Office properties, Office buildings
Square Feet
37,796 SF
Year Built
1984
Buildings
1
Stories
3
Lot Size (sq. ft)
116,305 SF

Location Insight

City
Atlanta
County
Cobb
State
Georgia
Latitude
33.909287417425
Longitude
-84.48537223751
1700 Water Pl, Atlanta, Georgia

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1700 Water Pl
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