For Sale
$2,905,664

1940 Moores Mill RdAtlanta, GA 30318

Stable NNN lease, strong tenant.

Overview

Added:
Dec 11, 2024
Days on market:
114
This exceptional investment opportunity presents a 5,125-square-foot Class A medical office building in Atlanta, Georgia, fully occupied by The Village Vets under a Net Lease agreement. The property, situated on a 0.43-acre lot at 1940 Moores Mill Rd NW, Atlanta, GA 30318, boasts a strong 6.75% cap rate and a substantial Net Operating Income (NOI) of $196,132. Built in 1965 and extensively renovated in 2019, the single-story building benefits from a 10-year lease (commencing November 10, 2019, and expiring November 21, 2029), with five years remaining. The lease includes a corporate guarantee and features attractive 3% annual rent increases, plus amortized tenant improvements. Two five-year lease options at fair market value further enhance the long-term investment potential. The tenant, The Village Vets, a significant operator with over 300 veterinary locations nationwide, has demonstrated a strong commitment by investing over $850,000 in property improvements. The property's location within a robust demographic area, with 69,995 residents within a three-mile radius earning an average of $168,000 annually, ensures consistent occupancy and rental income. The asking price is $2,905,664. This NNN lease minimizes landlord responsibilities, limiting them to roof and structure maintenance, providing a low-maintenance, high-return investment. The below-market rent offers significant upside potential upon lease expiration.

Highlights

  • $2,905,664 asking price for a 5,125 SF Class A medical office building in Atlanta, GA.
  • NNN lease with a corporate guarantee from The Village Vets, a national operator with over 300 locations.
  • 10-year lease (5 years remaining) with 3% annual rent increases and two 5-year renewal options at fair market value.
  • Currently 100% occupied, generating a 6.75% cap rate and $196,132 in NOI.
  • Strong demographics: 69,995 residents within a 3-mile radius, with an average annual income of $168,000.

Property Details for 1940 Moores Mill Rd

Property type
Retail properties, Office properties
Square Feet
5,125 SF
Class
A
Year Built/Renovated
1965/2019
Buildings
1
Stories
1
Lot Size (sq. ft)
18,731 SF
Units
1

Location Insight

City
Atlanta
County
Fulton
State
Georgia
Latitude
33.82217723
Longitude
-84.44978718
1940 Moores Mill Rd, Atlanta, Georgia

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1940 Moores Mill Rd
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