Building Details

Building Size 5,478 SF

Listed By: Lindsay Brereton, CCIM · License #358857 Show Phone

Source: Bullrealty

Added: Mar 27 Changed: Oct 25 Last Checked: Oct 28 at 5:40AM

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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 Lindsay Brereton, CCIM

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Investment Insights

Based on property information with market context.

This is a stand-alone medical office building, constructed in 2019, offering approximately 5,478 square feet of space. It is situated in downtown Lexington, Georgia, near Lexington City Hall and other historic sites and residences in Oglethorpe County. The property features visibility, dedicated parking, and monument signage. The building is designed as a medical office space, including 5 exam rooms, a procedure room, imaging capabilities with sinks, 6 restrooms, a lab area, and a nurses station. It also includes 5 offices and a breakroom area. The physician offices have dedicated personal restrooms. It serves the local community and those within a 20-mile radius of Athens-Clarke. This location is suitable for medical providers seeking to expand operations and services in the Athens-Clarke area.

Key Highlights

• Newly built in 2019, this ±5,478 SF stand‑alone medical office building is ready for you.
• Located in the heart of downtown Lexington, Georgia, near Lexington City Hall.
• State‑of‑the‑art medical office space featuring 5 exam rooms, a procedure room, and imaging.

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$70,995

Cap Rate

6.45%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,419,900 $1.4M

Cap Rate 7%

$1,014,214 $1.0M

Cap Rate 9%

$788,833 $788.8K

Is this asking price fair?

Market Conditions

NOI Build-Up for 5,478 SF

Gross rent

$131.5K $24.00/SF

− Vacancy

−$13.1K −$2.40/SF

EGI

$118.3K $21.60/SF

− OpEx

−$47.3K −$8.64/SF

NOI

$71.0K $12.96/SF

Area

Oglethorpe 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 Rate 5%

$1,419,900

Cap Rate 7%

$1,014,214

Cap Rate 9%

$788,833

Alternative Uses

Best Use

Healthcare Medical

$1.01M

$887.4K – $1.18M (±1% cap)

NOI $70,995 @ 7.0% cap · market cap 6.45%

Second Best

Office B

$1.01M

$886.3K – $1.18M (±1% cap)

NOI $70,906 @ 7.0% cap · market cap 6.45%

Theoretical Best

Office A

$1.32M

$1.16M – $1.54M (±1% cap)

NOI $92,441 @ 7.0% cap · market cap 8.40%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Open Analytics

Current Use

Oglethorpe Ear, Nose ... Physician Robert Pitts Physician Kristin Pitts Physician

Suggested Use

Top Pick Grocery & Convenience Store Real Estate Agency Auto Repair Shop Pet Grooming Service Auto Parts Store Hair Salon

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

97

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 30648, GA

2,741

Population

1,212

Households

2.3

Avg Household Size

45

Median Age

31%

College-Educated

91%

High-School Grad

92.1 sq mi

ZIP Area

30

Density / Sq Mi

$72,431

Median Household Income

$43,325

Median Earnings

$879

Median Rent

$158,300

Median Home Value

Market

Vacancy Rate% for Office in South region

14.4% 2019

16.4% 2020

17.3% 2021

18% 2022

18.6% 2023

20.3% 2024

20.2% 2025

Frequently Asked Questions

What type of property is this?

Medical Office Space - Newly built medical office in downtown Lexington, Georgia.

Where is this medical office space located?

The property is located at 219 Boggs Street Lexington, GA.

What is the asking price?

The asking price for this property is $1,100,000.

What are key features of this property?

This property features: Newly built in 2019, this ±5,478 SF stand‑alone medical office building is ready for you.; Located in the heart of downtown Lexington, Georgia, near Lexington City Hall.; State‑of‑the‑art medical office space featuring 5 exam rooms, a procedure room, and imaging.