For Sale
$3,089,000

516 Ga-247Bonaire, GA 31005

Georgia Medical Office, Net Lease, 6.25% CAP

Overview

Added:
Dec 11, 2024
Days on market:
118
This exceptional investment opportunity presents a 4,680 square foot medical office building in Bonaire, Georgia, currently leased to Heartland Dental under a 10-year Net Lease agreement (commencing September 1, 2019, expiring August 31, 2029). The property boasts a strong 6.25% cap rate and a substantial Net Operating Income (NOI) of $193,028. Located on a 0.65-acre lot at 516 GA-247, 31005, this property benefits from excellent visibility and access near the intersection of State Route 247 and State Route 96, within the Merganser Commons development (anchored by Publix). The lease includes built-in rent bumps, with a 10% increase scheduled for September 2024 and every five years thereafter. The tenant, Heartland Dental, is a large, financially stable dental support organization with a corporate guarantee, providing significant security for investors. The property's location within a thriving residential area, near major employers like Frito-Lay, Northrop Grumman, and Anchor Glass, and in close proximity to Robins Air Force Base and several schools, ensures a reliable customer base and strong demographics. The average annual household income within a one-mile radius is $130,173, and the population within a five-mile radius is 67,201. This is a 1031 exchange eligible property. The building was constructed in 2019.

Highlights

  • 4,680 SF medical office building in Bonaire, GA, Net Leased to Heartland Dental.
  • Excellent visibility and access at the intersection of State Route 247 and State Route 96, within Merganser Commons (anchored by Publix).
  • Strong location near residential neighborhoods, major employers (Frito-Lay, Northrop Grumman, Anchor Glass), and Robins Air Force Base.
  • Beneficial proximity to several schools, including Windsor High, Windsor Middle, Grandview Elementary, and Skyview Elementary.
  • Strong demographics: 67,201 population within a 5-mile radius and $130,173 average household income within a 1-mile radius.

Property Details for 516 Ga-247

Property type
Office properties, Medical offices
Square Feet
4,680 SF
Year Built
2019
Lot Size (sq. ft)
28,314 SF

Location Insight

City
Bonaire
County
Houston
State
Georgia
Latitude
32.5463439
Longitude
-83.5963249
516 Ga-247, Bonaire, Georgia

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516 Ga-247
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