Move-In-Ready End Unit
For Sale
$370,000
1815 Lockeway Dr. Unit 101, Alpharetta, GA 30004
End unit office in Grasslands Office Condominium with multiple offices, conference and break room, and renovated finishes.
Property Size1,477 SF
Price / SF$250.51
Days on Market92
Property Features for 1815 Lockeway Dr. Unit 101
General Information
Standard status
Active
Size
1,477 SF
Class
B
Property subtype
Multi Tenant Office
Additional Details
Highway Access
Yes
Amenities
conference room
break room
upgraded finishes
main road visibility
Building Details
Building Size
1,477 SF
Year Built
2003
Tenancy
Multi
Listing Agency:
KW Commercial Greater Atlanta
Listed By:
JB Bader
(678) 858-4582
Source:
Thebrokerlist
Added: Jul 23
Changed: Oct 8
Last Checked: Oct 20 at 5:13PM
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 KW Commercial Greater Atlanta
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Investment Insights
Based on property information with market context.
This move-in-ready end unit office space is located within the Grasslands Office Condominium complex. The building was constructed in 2003 and includes 6 units. Unit 101 features 4 offices with windows, along with a conference room and break room. The space has been fully renovated and offers upgraded finishes.
The property has main road visibility and is described as having easy access about 3 miles west of GA 400 at Exit 12 (McFarland Road). The surrounding area is noted for corporate headquarters, technology innovation centers, and upscale residential neighborhoods.
Overall, the configuration supports a traditional office layout with private offices plus shared meeting and break space, and the end-unit positioning provides additional windowed office rooms.
The property has main road visibility and is described as having easy access about 3 miles west of GA 400 at Exit 12 (McFarland Road). The surrounding area is noted for corporate headquarters, technology innovation centers, and upscale residential neighborhoods.
Overall, the configuration supports a traditional office layout with private offices plus shared meeting and break space, and the end-unit positioning provides additional windowed office rooms.
Key Highlights
- 1,477 SF office building built in 2003
- End unit with 6 units in the Grasslands Office Condominium complex
- End unit includes 4 offices with windows plus a conference room and break room
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$19,779
Cap Rate
5.35%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$395,580
$395.6K
Cap Rate 7%
$282,557
$282.6K
Cap Rate 9%
$219,767
$219.8K
Market Conditions
NOI Build-Up for 1,477 SF
Gross rent
$35.3K $23.87/SF
− Vacancy
−$8.9K −$6.02/SF
EGI
$26.4K $17.85/SF
− OpEx
−$6.6K −$4.46/SF
NOI
$19.8K $13.39/SF
Area
Fulton 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%
$395,580
Cap Rate 7%
$282,557
Cap Rate 9%
$219,767
Alternative Uses
Best Use
Office B
$282.6K
$247.2K – $329.7K
NOI $19,779 @ 7.0% cap · market cap 5.35%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$412.9K
$361.3K – $481.7K
NOI $28,901 @ 7.0% cap · market cap 7.81%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,028
Businesses Nearby
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Business Placement
Demographics for 30004, GA
68,607
Population
25,485
Households
2.7
Avg Household Size
37
Median Age
72%
College-Educated
95%
High-School Grad
57.9 sq mi
ZIP Area
1,185
Density / Sq Mi
$147,996
Median Household Income
$82,818
Median Earnings
$1,839
Median Rent
$583,700
Median Home Value
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Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office unit - End unit office in Grasslands Office Condominium with multiple offices, conference and break room, and renovated finishes.
Where is this office unit located?
The property is located at 1815 Lockeway Dr. Unit 101 Alpharetta, GA.
What is the asking price?
The asking price for this property is $370,000.
What are key features of this property?
This property features: 1,477 SF office building built in 2003; End unit with 6 units in the Grasslands Office Condominium complex; End unit includes 4 offices with windows plus a conference room and break room
