For Sale
$3,195,529

2399 Wall StConyers, GA 30013

Georgia medical office, strong lease.

Overview

Added:
Dec 11, 2024
Days on market:
115
This exceptional investment opportunity presents a fee-simple interest in a 6,370-square-foot, single-tenant medical office building located at 2399 Wall St SE, Conyers, Georgia 30013. The property, built in 2022 on a 1.83-acre lot, is a net-zero energy clinic, a testament to its energy-efficient design and the inclusion of solar panels. Leased to DaVita, Inc., a leading operator in the kidney care industry, under a 15.1-year Net Lease (NN) with a corporate guarantee, the lease commenced June 8, 2022, and expires June 30, 2037, leaving a substantial 12.6 years remaining. The lease includes 10% rent bumps every five years and options for three, five-year extensions. The asking price is $3,195,529, representing a 6.05% cap rate and a price per square foot of $501.65. The property boasts a strong NOI of $193,330 and 100% occupancy. Strategically located near the intersection of Interstate 20 (130,000 vehicles per day) and North Salem Road, close to Highway 138 Southeast (53,000 vehicles per day), the clinic benefits from a robust demographic profile, with approximately 99,000 people within a five-mile radius and an average household income exceeding $85,000 annually. This investment offers significant long-term passive income potential, shielded from macroeconomic fluctuations due to the strong tenant, long-term lease, and built-in rent growth. The property represents a rare opportunity to acquire a state-of-the-art, net-zero energy medical facility in a high-growth area.

Highlights

  • No early termination clause.
  • Net-zero energy consumption clinic.
  • Leading operator with strong lease guarantee.
  • Investment in a rapidly growing industry.
  • Resilient to macroeconomic fluctuations.
  • New prototype building design.

Property Details for 2399 Wall St

Property type
Office properties, Medical offices
Square Feet
6,370 SF
Year Built
2022
Lot Size (sq. ft)
79,715 SF

Location Insight

City
Conyers
County
Rockdale
State
Georgia
Latitude
33.6259695
Longitude
-83.9796924
2399 Wall St, Conyers, Georgia

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2399 Wall St
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