1002 Boulder DrGray, GA 31032

Property Details for 1002 Boulder Dr

Year built

2006

Construction

WOOD

Lot size

0.94 AC

Property size (Sq ft)

7,052 SF

Property type

Healthcare properties

Property subtype

Medical offices

APN

J45D00 063A

APU

J45D00063A

Description

This exceptional 6,904 square foot medical office building presents a compelling investment opportunity in Gray, Georgia. Located at 1002 Boulder Dr, this property boasts a prime location on the bypass, conveniently situated across from Ingles grocery store and adjacent to Morris Bank, ensuring high visibility and accessibility. Built in 2006 and zoned C-3, the building is currently leased to US Renal Care, a prominent national healthcare provider with a significant patient base exceeding 26,000 across 33 states and over 400 facilities. US Renal Care has occupied the space since September 2006, demonstrating long-term stability and commitment, further solidified by a 5-year lease renewal exercised in November 2021. The property sits on a 0.94-acre lot and offers a strong net operating income (NOI) of $188,545, translating to an attractive 6.25% cap rate with built-in annual increases of 2.25%. This investment presents a rare opportunity to acquire a stable, high-performing medical office building with a strong tenant and significant upside potential. The asking price is $3,006,000. This property is an excellent addition to any diversified real estate portfolio.

• CAP approach

  CAP return

  Valuation

  6%

  $896,972

  6.5%

  $827,974

  7%

  $768,833

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,375,563

  Geo Method

  $1,375,563

• Alternative Use

  Use

  Valuation

  Residential

  $1,026,688

  Hospitality

  $940,441

  Educational

  $782,436

  Medical

  $809,345

  Retail

  $1,217,122

Location Insight

City

Gray

County

Jones

State

Georgia

Latitude

33.002

Longitude

-83.5465

CBSA code

31420

CBSA name

MACON, GA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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