Turnkey Office Condo
For Sale
Contact for pricing
3375 Chastain Gardens Drive Northwest, Kennesaw, GA 30144
Turnkey office condo suite with five private offices, conference room, breakroom, bullpen, IT room, and two restrooms.
Property Size2,268 SF
Price / SF$209.44
Days on Market55
Property Features for 3375 Chastain Gardens Drive Northwest
General Information
Standard status
Active
Size
2,268 SF
Class
B
Property subtype
Office
Zoning
OI
Additional Details
Highway Access
Yes
Sprinkler System
Yes
Amenities
conference room
breakroom
lobby
IT room
Building Details
Year Built
2004
Stories
1
Listing Agency:
Cumberland & Worthy
Listed By:
Nick Fitzpatrick · License #GA 358347
(404) 441-7896
Source:
Crexi
Added: Jul 14
Changed: Sep 5
Last Checked: Sep 4 at 6:30PM
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 Cumberland & Worthy
Investment Insights
Based on property information with market context.
Turnkey office condo available for sale as a private suite totaling 2,268 SF. The space includes five private offices, including four offices with windows, a conference room, a large breakroom/lounge area, and a lobby/waiting bullpen with four built-in workstations. Additional features include an IT room, two restrooms, storage areas, and fire suppression with sprinklered protection. Two ADA accessible ramps support accessibility to the suite.
The property is located within a business park off Chastain Rd and I-575. The business park provides a 4/1000 parking ratio. Monthly association dues are $340 and include water, sanitation, and grounds.
The suite is described as immediately move-in ready, offering an owner the ability to occupy without additional build-out based on the current configuration.
The property is located within a business park off Chastain Rd and I-575. The business park provides a 4/1000 parking ratio. Monthly association dues are $340 and include water, sanitation, and grounds.
The suite is described as immediately move-in ready, offering an owner the ability to occupy without additional build-out based on the current configuration.
Key Highlights
- Office condo built in 2004 with suites 110/120 totaling 2,268 SF
- Includes five private offices, conference room, large breakroom/loung e, and lobby/waiting bullpen
- IT room plus built‑in workstations in the bullpen and multiple storage areas
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
$30,371
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
6.39%
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%
$607,420
$607.4K
Cap Rate 7%
$433,871
$433.9K
Cap Rate 9%
$337,456
$337.5K
Market Conditions
NOI Build-Up for 2,268 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
$54.1K $23.87/SF
− Vacancy
−$13.6K −$6.02/SF
EGI
$40.5K $17.85/SF
− OpEx
−$10.1K −$4.46/SF
NOI
$30.4K $13.39/SF
Area
Cobb 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 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%
$607,420
Cap Rate 7%
$433,871
Cap Rate 9%
$337,456
Alternative Uses
Best Use
Office B
$433.9K
$379.6K – $506.2K
NOI $30,371 @ 7.0% cap · market cap 6.39%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$636.9K
$557.3K – $743.0K
NOI $44,580 @ 7.0% cap · market cap 9.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Sprinkler system
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,074
Businesses Nearby
Explore this area
Business Placement
Demographics for 30144, GA
53,984
Population
22,843
Households
2.4
Avg Household Size
34
Median Age
45%
College-Educated
94%
High-School Grad
22.1 sq mi
ZIP Area
2,443
Density / Sq Mi
$84,628
Median Household Income
$41,693
Median Earnings
$1,745
Median Rent
$310,400
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?
Office units - Turnkey office condo suite with five private offices, conference room, breakroom, bullpen, IT room, and two restrooms.
Where is this office units located?
The property is located at 3375 Chastain Gardens Drive Northwest Kennesaw, GA.
What is the asking price?
The asking price for this property is $475,000.
What are key features of this property?
This property features: Office condo built in 2004 with suites 110/120 totaling 2,268 SF; Includes five private offices, conference room, large breakroom/loung e, and lobby/waiting bullpen; IT room plus built‑in workstations in the bullpen and multiple storage areas
