Medical Clinic Office
For Sale
Contact for pricing
1057 Morningside Dr, Perry, GA 31069
Medical clinic currently operated on a lease through June 2027 at a stated monthly rent.
Property Size4,217 SF
Price / SF$222.91
Days on Market149
Property Features for 1057 Morningside Dr
General Information
Standard status
Active
Size
4,217 SF
Class
C
Total Parking Spaces
20
Property subtype
Office
Zoning
Commercial -OI
Occupancy
100%
Building Details
Year Built
1980
Year Renovated
2009
Buildings
1
Stories
2
Tenancy
Single
Listing Agency:
Coldwell Banker Commercial The Free Group
Listed By:
Scott Free · License #GA140455
(478) 218-2600
Source:
Crexi
Added: Apr 10
Changed: Sep 5
Last Checked: Aug 14 at 7:48AM
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 Commercial The Free Group
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 = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$49,729
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.29%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
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
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
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 5.29%
Second Best
Office B
$631.3K
$552.4K – $736.5K
NOI $44,192 @ 7.0% cap · market cap 4.70%
Theoretical Best
Office A
$910.2K
$796.4K – $1.06M
NOI $63,712 @ 7.0% cap · market cap 6.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
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
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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 Dr Perry, GA.
What is the asking price?
The asking price for this property is $940,000.
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)
