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    Preston Ridge Commons II Offices Title is generated by Realmo AI

    3235 North Point Pkwy, Alpharetta, GA 30005

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    Multi-building office complex in Alpharetta, designed for business growth.

    Type:Office, Special Purpose
    Property size:
    86,100 SF
    Added:
    Jul 8, 2022
    Days on Market:
    1429
    Last Refresh:
    May 12 at 9:40 pm

    Property Features for 3235 North Point Pkwy

    General Information

    Standard status
    Active
    Size
    86,100 SF
    Property subtype
    Office, Special Purpose

    Building Details

    Year Built
    2023

    Spaces For Lease

    at 3235 North Point Pkwy Contact us

    3255 Suite 204 $32/Mo

    Size
    1,950 SF
    Type
    Office, Special Purpose
    Opportunity to lease a highly functional, well-designed office suite located in the...
    show more
    Contact us

    3285 North Point Pkwy, Suite 101 $32/Mo

    Size
    1,510 SF
    Type
    Office, Special Purpose
    Suite 101 is a newly constructed, professionally designed commercial suite offering...
    show more
    Contact us

    We can help!

    Listing Contact
    Rajan Kalidindi

    Listing agent Rajan Kalidindi License #0000

    Listing office Virtue Investment Group

    Listing date Jul 8, 2022

    Source Crexi

    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 Virtue Investment Group

    HighLights

    • Prime location near GA‑400, Webb Bridge Road, and North Point Parkway for easy access to major employers and transportation.
    • New construction (2023) with striking black‑brick architecture and expansive glass windows.
    • Customizable interiors with suite sizes ranging from 1,250 SF to 15,000 SF.
    • High visibility with window and monument signage opportunities.
    • On‑site property management providing responsive support.
    • 24/7 access, high‑speed Wi‑Fi, furnished offices, and outdoor seating.

    Overview

    Preston Ridge Commons II, situated at 3235 North Point Parkway, is a multi-building office complex designed to accommodate startups, medical offices, and corporate teams. The property features a total building area of 86,100 square feet spread across 7 buildings, with suite sizes ranging from 1,250 square feet to 15,000 square feet. Each building has 2 floors, with a total of 60 suites available. Built in 2023, the complex offers 344 parking spaces and is zoned OI (Office Institutional). The architecture features black-brick exteriors with expansive glass windows and sleek metal awnings. Interiors are customizable with build-out options. Window and monument signage are available for high visibility. On-site property management provides responsive support. The location offers easy access to Webb Bridge Road, North Point Parkway, and GA-400, as well as Interstate 85. The complex is near major employers such as Microsoft, Siemens, and ADP, and is close to amenities like Avalon, North Point Mall, and Downtown Alpharetta. The property offers 24/7 access and high-speed Wi-Fi. The complex is powered by Georgia Power and does not have elevators.
    Property Profile Location Intelligence

    Current Use by Public Records

    MD Psychiatry Clinic Physician Dr. Rajender Singh, ... Physician Karera Health Spa & Massage Center Preston Ridge Commons Office Space Rental Agency Alpha Medical Centre Physician

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Dental Office Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Alpharetta
    County
    Fulton
    State
    Georgia
    Longitude
    -84.298137
    Latitude
    34.047169

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    FAQs

    What type of property is this?
    Office building - Multi-building office complex in Alpharetta, designed for business growth.
    Where is this office building located?
    The property is located at 3235 North Point Pkwy Alpharetta, GA.
    What is the lease rate?
    The lease rate is $32 SF/Yr.
    What are key features of this property?
    This property features: Prime location near GA‑400, Webb Bridge Road, and North Point Parkway for easy access to major employers and transportation.; **New construction (2023) with striking black‑brick architecture and expansive glass windows.**; Customizable interiors with suite sizes ranging from 1,250 SF to 15,000 SF.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Rajan Kalidindi
    Real Estate License ID: 0000
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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