1940 Moores Mill RdAtlanta, GA 30318
- Specialty properties
- 5,098 SF
Property Details for 1940 Moores Mill Rd
- Year built
- 1965
- Construction
- WOOD
- Lot size
- 0.43 AC
- Property size (Sq ft)
- 5,098 SF
- Zone code
- C1
- Property type
- Specialty properties
- Property subtype
- Other specialty properties
- APN
- 17 023000070090
- APU
- 17023000070090
Description
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.
Valuation
by Paperhouses methods
- Valuation date:
- Dec 11, 2024
-
Alternative Use
- Use
- Valuation
- Residential
- $1,285,577
- Hospitality
- $1,177,581
- Educational
- $979,734
- Medical
- $1,013,428
- Retail
- $1,524,030
Location Insight
- City
- Atlanta
- County
- Fulton
- State
- Georgia
- Latitude
- 33.822
- Longitude
- -84.4495
- 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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