Medical Office
3504 & 3506 Old Milton Parkway, Alpharetta, GA 30005
For Sale
Contact for pricing
The two-unit property is occupied under a triple-net lease, with the condominium association managing the park.
Property Size2,280 SF
Price / SF$283.87
Days on Market13
Property Features for 3504 & 3506 Old Milton Parkway
General Information
Standard status
Size
Net Rentable
Property subtype
Tenancy & Operations
Currently Operating
Tenant in Place
Additional Details
Office Units
Property Use
Medical Specialty
Building Details
Year Built
Tenancy
Listing Agency:
Highgate Partners
Listed By:
Andrew Murphy · License #GA 266037
(770) 913-3900
Source:
Crexi
Added: Oct 28
Changed: Nov 8
Last Checked: Nov 8 at 3:23PM
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 Highgate Partners
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Investment Insights
Based on property information with market context.
This medical office condominium consists of two units with approximately 2,280 square feet of rentable area. Built in 2001, the space is leased to Extremity Healthcare Providers, LLC, an Upperline Health operating entity, under a triple-net lease. The condominium association manages the park, limiting the owner’s property-management responsibilities.
The suites are on Old Milton Parkway in Alpharetta, where average daily vehicle traffic is reported at 46,000.
The suites are on Old Milton Parkway in Alpharetta, where average daily vehicle traffic is reported at 46,000.
Key Highlights
- Two condominium units totaling approximately 2,280 square feet of rentable area
- Leased to Extremity Healthcare Providers, LLC, an Upperline Health operating entity
- Triple‑net lease structure
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$33,792
Cap Rate
5.22%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$675,840
$675.8K
Cap Rate 7%
$482,743
$482.7K
Cap Rate 9%
$375,467
$375.5K
Market Conditions
NOI Build-Up for 2,280 SF
Gross rent
$62.9K $27.60/SF
− Vacancy
−$6.6K −$2.90/SF
EGI
$56.3K $24.70/SF
− OpEx
−$22.5K −$9.88/SF
NOI
$33.8K $14.82/SF
Area
Fulton County, GA
Vacancy
10.50%
Lease Rate
$27.60 /SF/Yr
Expense Ratio
40.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$675,840
Cap Rate 7%
$482,743
Cap Rate 9%
$375,467
Alternative Uses
Best Use
Healthcare Medical
$482.7K
$422.4K – $563.2K
NOI $33,792 @ 7.0% cap · market cap 5.22%
Second Best
Office B
$436.2K
$381.7K – $508.9K
NOI $30,532 @ 7.0% cap · market cap 4.72%
Theoretical Best
Office A
$637.3K
$557.7K – $743.6K
NOI $44,614 @ 7.0% cap · market cap 6.89%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
2
Office units
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,723
Businesses Nearby
Balanced
Demand for This Use
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Business Placement
Demographics for 30005, GA
39,308
Population
14,879
Households
2.6
Avg Household Size
38
Median Age
76%
College-Educated
99%
High-School Grad
15.8 sq mi
ZIP Area
2,488
Density / Sq Mi
$170,951
Median Household Income
$82,686
Median Earnings
$1,929
Median Rent
$587,400
Median Home Value
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Market
Average Price Trend$/SF for Medical Office Space in Fulton County, GA
Properties on Market for Medical Office Space in Fulton County
Vacancy Rate% for Office in South region
Similar Off Market Nearby
- Kennedy Erin L DVM — 3953 Webb Bridge Rd, Alpharetta, GA 30005
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Frequently Asked Questions
What type of property is this?
Medical Office Space - The two-unit property is occupied under a triple-net lease, with the condominium association managing the park.
Where is this medical office space located?
The property is located at 3504 & 3506 Old Milton Parkway Alpharetta, GA.
What is the asking price?
The asking price for this property is $647,226.
What are key features of this property?
This property features: Two condominium units totaling approximately 2,280 square feet of rentable area; Leased to Extremity Healthcare Providers, LLC, an Upperline Health operating entity; Triple‑net lease structure
