1388 Wellbrook CirConyers, GA 30012
- Healthcare properties
- 5,000 SF
Property Details for 1388 Wellbrook Cir
- Year built
- 1994
- Construction
- WOOD
- Lot size
- 0.87 AC
- Property size (Sq ft)
- 5,000 SF
- Zone code
- OI
- Property type
- Healthcare properties
- Property subtype
- Medical offices
- APN
- 067-0-02-015F
- APU
- 067002015F
Description
This exceptional investment opportunity presents a portfolio of two Class B medical office buildings totaling 16,280 square feet, situated on a 39,247 square foot lot in Conyers, Georgia (30012). Currently 100% occupied by two tenants under a triple net (NNN) lease structure, the portfolio boasts a strong 7.00% cap rate and a substantial net operating income (NOI) of $342,255. Built in 1994, these single-story buildings feature 60 parking spaces and are zoned OI. The primary tenant, operating a busy pain management clinic including surgical suites, has a 10-year lease renewal commencing November 1, 2024. A secondary tenant occupies approximately 19% of one building and has a lease with 2.5 years remaining. The properties are strategically located near Piedmont Rockdale and Piedmont Newton hospital campuses, benefiting from high visibility and convenient access. This portfolio offers a compelling investment opportunity with stable income and significant growth potential in a thriving medical market. The asking price is $4,280,000.
Valuation
by Paperhouses methods
- Valuation date:
- Dec 11, 2024
-
CAP approach
- CAP return
- Valuation
- 6%
- $1,074,320
- 6.5%
- $991,680
- 7%
- $920,846
-
Comparable approach
- Method
- Valuation
- Relative Method
- $975,300
- Geo Method
- $975,300
-
Alternative Use
- Use
- Valuation
- Residential
- $1,229,683
- Hospitality
- $1,126,383
- Educational
- $937,137
- Medical
- $969,367
- Retail
- $1,457,769
Location Insight
- City
- Conyers
- County
- Rockdale
- State
- Georgia
- Latitude
- 33.6786
- Longitude
- -84.0022
- CBSA code
- 12060
- CBSA name
- ATLANTA-SANDY SPRINGS-MARIETTA, GA METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
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