Renovated Government-Leased
1335 Citizens Parkway Morrow, GA 30260
1335 Citizens Parkway, Morrow, GA, 30260
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For Sale
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Renovated office facility leased to the State of Georgia and upgraded in 2024 with HVAC, parking improvements, and a new roof.
Property Size14,579 SF
Price / SF$435.56
Days on Market83
Property Features for 1335 Citizens Parkway
General Information
- Standard status
- Active
- Size
- 14,579 SF
- Property subtype
- Office
Listing agency
Bull Realty
(404) 876-1640
Listed by
Michael Bull · License #GA 432977
Source
Crexi
Added: Apr 30 Updated: Jul 21 at 5:30AM Checked: Jul 21 at 5:30AM
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 Bull Realty
Investment Insights
Based on property information with market context.
This renovated office facility is currently leased long term to the Georgia Department of Community Supervision (DCS). The property was renovated in 2024 and included extensive remodeling and capital improvements, including HVAC, parking lot improvements, and a new roof, completed to suit the tenant.
The lease is fully guaranteed by the AAA credit of the State of Georgia. DCS operates essential community supervision services and manages community supervision through a network of 55 field offices across the state.
The facility is located in the main commercial and retail area of Morrow.
The lease is fully guaranteed by the AAA credit of the State of Georgia. DCS operates essential community supervision services and manages community supervision through a network of 55 field offices across the state.
The facility is located in the main commercial and retail area of Morrow.
Key Highlights
- Renovated office facility leased long term to the State of Georgia (Georgia Department of Community Supervision).
- Lease is fully guaranteed by the AAA credit of the State of Georgia.
- Renovated in 2024 for DCS, including extensive remodeling and capital improvements.
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $348.0k | $23.87 |
| − Vacancy | −$87.7k | −$6.02 |
| EGI | $260.3k | $17.85 |
| − OpEx | −$65.1k | −$4.46 |
| NOI | $195.2k | $13.39 |
14,579 SF · lease $23.87/SF/yr · vacancy 25.20% · expense 25.00%
Alternative Uses
Best Use
Office B
$2.79M
$2.44M – $3.25M
NOI $195,228 @ 7.0% cap · market cap 3.07%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.08M
$3.57M – $4.75M
NOI $285,277 @ 7.0% cap · market cap 4.49%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Office buildings
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FAQs
What type of property is this?
Office building - Renovated office facility leased to the State of Georgia and upgraded in 2024 with HVAC, parking improvements, and a new roof.
Where is this office building located?
The property is located at 1335 Citizens Parkway Morrow, GA.
What is the asking price?
The asking price for this property is $6,350,000.
What are key features of this property?
This property features: Renovated office facility leased long term to the State of Georgia (Georgia Department of Community Supervision).; Lease is fully guaranteed by the AAA credit of the State of Georgia.; Renovated in 2024 for DCS, including extensive remodeling and capital improvements.
