997 Commerce DrConyers, GA 30094

Property Details for 997 Commerce Dr

Year built

1998

Construction

WOOD

Lot size

1.18 AC

Property size (Sq ft)

7,727 SF

Zone code

OI

Property type

Office buildings

APN

C12-0-01-0037

APU

C120010037

Description

This exceptional three-story office building, located at 997 Commerce Dr SW in Conyers, Georgia, presents a compelling investment opportunity. Boasting 13,750 square feet of total space and 12,982 square feet of net rentable area, the property is currently 97% occupied as of May 1, 2023, generating a substantial net operating income (NOI) of $128,900. The asking price is $1,475,000, representing a compelling cap rate of 8.74%. Built in 1998, this Class B building sits on a 1.18-acre lot and is zoned for office use (OI). The property features a mix of executive and traditional office spaces, with six executive suites on the upper floors currently 100% leased. The lease structure is gross, and the tenancy is multi-tenant. The property is ideally suited for an owner-user, particularly a medical or office tenant seeking a first-floor presence. This stabilized investment is offered as a 1031 exchange opportunity. The property's strong occupancy, high cap rate, and excellent location in Rockdale County, Georgia (zip code 30094) make it an attractive proposition for discerning investors. Seller financing may be available.

• CAP approach

  CAP return

  Valuation

  6%

  $1,660,254

  6.5%

  $1,532,542

  7%

  $1,423,075

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,507,229

  Geo Method

  $1,507,229

• Alternative Use

  Use

  Valuation

  Residential

  $1,900,352

  Hospitality

  $1,740,712

  Educational

  $1,448,252

  Medical

  $1,498,060

  Retail

  $2,252,837

Location Insight

City

Conyers

County

Rockdale

State

Georgia

Latitude

33.657

Longitude

-84.0255

CBSA code

12060

CBSA name

ATLANTA-SANDY SPRINGS-MARIETTA, GA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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