Medical Clinic Office
For Sale
$835,000
1057 Morningside Drive, Perry, GA 31069
Medical clinic currently operated on a lease through June 2027 at a stated monthly rent.
Property Size4,217 SF
Days on Market198
Property Features for 1057 Morningside Drive
General Information
Standard status
Active
Size
4,217 SF
Property subtype
Commercial
Building Details
Building Size
4,217 SF
Year Built
1980
Listing Agency:
COLDWELL BANKER FREE REALTY
Listed By:
Danny Evans · License #384445
(478) 808-2708
Source:
Afrealtygroup
Added: Apr 9
Changed: Oct 18
Last Checked: Oct 21 at 4:40AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of COLDWELL BANKER FREE REALTY
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Investment Insights
Based on property information with market context.
This property is currently operating as a medical clinic with office use. The asset is offered for sale and includes an in-place lease through June of 2027, with rent stated in the listing as $6,300 per month.
The property is located at 1057 Morningside Dr in Perry, GA, and is described as an excellent location for medical clinic and office use.
At 4,217 square feet, the building is sized for a dedicated healthcare and professional office environment under the current lease arrangement.
The property is located at 1057 Morningside Dr in Perry, GA, and is described as an excellent location for medical clinic and office use.
At 4,217 square feet, the building is sized for a dedicated healthcare and professional office environment under the current lease arrangement.
Key Highlights
- Medical clinic/offices currently leased through June 2027
- Lease rent is $6,300 per month (as stated in the listing)
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$49,729
Cap Rate
5.96%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$994,580
$994.6K
Cap Rate 7%
$710,414
$710.4K
Cap Rate 9%
$552,544
$552.5K
Market Conditions
NOI Build-Up for 4,217 SF
Gross rent
$92.6K $21.96/SF
− Vacancy
−$9.7K −$2.31/SF
EGI
$82.9K $19.65/SF
− OpEx
−$33.2K −$7.86/SF
NOI
$49.7K $11.79/SF
Area
Houston County, GA
Vacancy
10.50%
Lease Rate
$21.96 /SF/Yr
Expense Ratio
40.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$994,580
Cap Rate 7%
$710,414
Cap Rate 9%
$552,544
Alternative Uses
Best Use
Healthcare Medical
$710.4K
$621.6K – $828.8K
NOI $49,729 @ 7.0% cap · market cap 5.96%
Second Best
Office B
$631.3K
$552.4K – $736.5K
NOI $44,192 @ 7.0% cap · market cap 5.29%
Theoretical Best
Office A
$910.2K
$796.4K – $1.06M
NOI $63,712 @ 7.0% cap · market cap 7.63%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
205
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 31069, GA
22,915
Population
9,389
Households
2.4
Avg Household Size
38
Median Age
28%
College-Educated
94%
High-School Grad
99.8 sq mi
ZIP Area
230
Density / Sq Mi
$75,526
Median Household Income
$48,601
Median Earnings
$997
Median Rent
$205,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Medical Office Space - Medical clinic currently operated on a lease through June 2027 at a stated monthly rent.
Where is this medical office space located?
The property is located at 1057 Morningside Drive Perry, GA.
What is the asking price?
The asking price for this property is $835,000.
What are key features of this property?
This property features: Medical clinic/offices currently leased through June 2027; Lease rent is $6,300 per month (as stated in the listing)
