Renovated Government-Leased
For Sale
$6,350,000
1335 Citizens Pkwy, Morrow, GA 30260
Renovated office facility leased to the State of Georgia and upgraded in 2024 with HVAC, parking improvements, and a new roof.
Property Size14,597 SF
Days on Market167
Property Features for 1335 Citizens Pkwy
General Information
Standard status
Active
Size
14,597 SF
Class
B
Property subtype
Office - General Office
Additional Details
Cap Rate
7.5%
Building Details
Building Size
14,597 SF
Year Built
1984
Year Renovated
2024
Tenancy
Single
Listing Agency:
Bull Realty
Listed By:
Austin Bull · License #432977
(404) 368-2629
Source:
Commercialcafe
Added: May 8
Changed: Oct 19
Last Checked: Oct 20 at 5:30PM
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
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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.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$195,469
Cap Rate
3.08%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,909,380
$3.9M
Cap Rate 7%
$2,792,414
$2.8M
Cap Rate 9%
$2,171,878
$2.2M
Market Conditions
NOI Build-Up for 14,597 SF
Gross rent
$348.4K $23.87/SF
− Vacancy
−$87.8K −$6.02/SF
EGI
$260.6K $17.85/SF
− OpEx
−$65.2K −$4.46/SF
NOI
$195.5K $13.39/SF
Area
Clayton County, GA
Vacancy
25.20%
Lease Rate
$23.87 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,909,380
Cap Rate 7%
$2,792,414
Cap Rate 9%
$2,171,878
Alternative Uses
Best Use
Office B
$2.79M
$2.44M – $3.26M
NOI $195,469 @ 7.0% cap · market cap 3.08%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.08M
$3.57M – $4.76M
NOI $285,629 @ 7.0% cap · market cap 4.50%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
473
Businesses Nearby
Explore this area
Business Placement
Demographics for 30260, GA
27,864
Population
9,858
Households
2.8
Avg Household Size
34
Median Age
17%
College-Educated
78%
High-School Grad
10.9 sq mi
ZIP Area
2,556
Density / Sq Mi
$55,212
Median Household Income
$34,692
Median Earnings
$1,391
Median Rent
$189,800
Median Home Value
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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?
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 Pkwy 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.
