Built-Out Medical Office
For Sale
Contact for pricing
1500 Langford Drive Building 200, Watkinsville, GA 30677
Single-story medical facility with 16 exam rooms, private pod hallways, and procedure/recovery space for flexible healthcare use.
Property Size12,300 SF
Price / SF$284.55
Days on Market96
Property Features for 1500 Langford Drive Building 200
General Information
Standard status
Active
Size
12,300 SF
Class
B
Property subtype
Office, Business for Sale
Zoning
B-2
Investment Type
Owner/User
Site & Location
Highway Access
Yes
Road Access
Yes
Building Details
Year Built
2008
Year Renovated
2015
Buildings
1
Stories
1
Units
57
Tenancy
Single
Listing Agency:
Athens Real Estate Group
Listed By:
Josh Chandler · License #GA 434395
(706) 207-2521
Source:
Crexi
Added: Jun 3
Changed: Aug 31
Last Checked: Sep 5 at 11:10PM
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 Athens Real Estate Group
Investment Insights
Based on property information with market context.
This fully built-out, single-story medical facility totals 12,300 SF and is organized in a “POD” style configuration with 16 exam rooms split among four individual pods. Each pod is served by a private hallway that includes a dedicated office and nurse’s station, supporting efficient clinical workflow within the building. Centrally located are two procedure rooms with adjacent recovery areas, designed to support either an existing practice model or an alternative operation such as a surgery center with secondary exit for post-op discharge. Additional open-layout administrative and staffing space is available throughout, providing room for modified buildout based on provider needs.
The property is located within the 316 Professional Quarter in Oconee County, GA, at 1500 Langford Drive, Building 200. Parking is provided within a two-building condo property, and access to and from Athens/Atlanta is described as convenient via US Hwy 316.
As a turn-key option for healthcare providers, the layout supports both exam-based visits and procedures with recovery areas. The established configuration and the available administrative space can also support providers seeking flexibility to adapt the buildout to their specific practice requirements within a dedicated medical setting.
The property is located within the 316 Professional Quarter in Oconee County, GA, at 1500 Langford Drive, Building 200. Parking is provided within a two-building condo property, and access to and from Athens/Atlanta is described as convenient via US Hwy 316.
As a turn-key option for healthcare providers, the layout supports both exam-based visits and procedures with recovery areas. The established configuration and the available administrative space can also support providers seeking flexibility to adapt the buildout to their specific practice requirements within a dedicated medical setting.
Key Highlights
- 12,300 SF single‑story medical facility built in 2008 within the 316 Professional Quarter in Oconee County, GA
- 16 exam rooms in a POD‑style layout, split across four pods with private hallway access
- Each pod hallway includes a dedicated office and nurse’s station for day‑to‑day clinical workflow
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
$159,408
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
4.55%
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%
$3,188,160
$3.2M
Cap Rate 7%
$2,277,257
$2.3M
Cap Rate 9%
$1,771,200
$1.8M
Market Conditions
NOI Build-Up for 12,300 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
$295.2K $24.00/SF
− Vacancy
−$29.5K −$2.40/SF
EGI
$265.7K $21.60/SF
− OpEx
−$106.3K −$8.64/SF
NOI
$159.4K $12.96/SF
Area
Oconee County, GA
Vacancy
10.00%
Lease Rate
$24.00 /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%
$3,188,160
Cap Rate 7%
$2,277,257
Cap Rate 9%
$1,771,200
Alternative Uses
Best Use
Healthcare Medical
$2.28M
$1.99M – $2.66M
NOI $159,408 @ 7.0% cap · market cap 4.55%
Second Best
Office B
$2.27M
$1.99M – $2.65M
NOI $159,209 @ 7.0% cap · market cap 4.55%
Theoretical Best
Office A
$2.97M
$2.59M – $3.46M
NOI $207,561 @ 7.0% cap · market cap 5.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Single-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
2
Businesses Nearby
Explore this area
Business Placement
Demographics for 30677, GA
20,579
Population
7,797
Households
2.6
Avg Household Size
41
Median Age
55%
College-Educated
97%
High-School Grad
122.2 sq mi
ZIP Area
168
Density / Sq Mi
$103,165
Median Household Income
$49,399
Median Earnings
$1,403
Median Rent
$394,800
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Medical center - Single-story medical facility with 16 exam rooms, private pod hallways, and procedure/recovery space for flexible healthcare use.
Where is this medical center located?
The property is located at 1500 Langford Drive Building 200 Watkinsville, GA.
What is the asking price?
The asking price for this property is $3,500,000.
What are key features of this property?
This property features: 12,300 SF single‑story medical facility built in 2008 within the 316 Professional Quarter in Oconee County, GA; 16 exam rooms in a POD‑style layout, split across four pods with private hallway access; Each pod hallway includes a dedicated office and nurse’s station for day‑to‑day clinical workflow
