Leased Office Condominium
3651 Mars Hill #800 Watkinsville, GA 30677
3651 Mars Hill #800, Watkinsville, GA, 30677
$1,100,000
For Sale
$1,100,000
Two-story office condominium with four occupied suites, built in 2007, featuring covered entry and shared parking.
Property Size4,692 SF
Price / SF$234.44
Days on Market38
Property Features for 3651 Mars Hill #800
General Information
- Standard status
- Active
- Size
- 4,692 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 2007
Listing Agency
NAI ELROD GROUP
Listed by
BRIAN ELROD
Source
Corcoran
Added: Jun 9 Checked: Jul 16 at 9:22 am
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 NAI ELROD GROUP
Investment Insights
Based on property information with market context.
Building 800 at The Summit at Mars Hill is a fully leased office condominium building totaling 4,692 square feet across two stories. Built in 2007, the brick and frame exterior includes a covered entry and ample shared parking. The property is professionally maintained and presents as a well-kept multi-suite office asset. All four suites are currently occupied and built out for professional office use, with tenants in place.
The building is located in The Summit at Mars Hill off Mars Hill Road in Oconee County. It sits less than two miles from both Highway 316 and Highway 78. Downtown Athens is approximately 10 minutes away, and Epps Bridge Centre is described as just up the road. Atlanta is roughly an hour away via 316.
For investors, this is a straightforward acquisition because the building is already fully occupied with tenants in place, with no lease-up required. For owner-operators or partners seeking a stabilized, multi-suite office format, the existing professional office buildouts and shared-site parking support continued occupancy and straightforward day-to-day management.
The building is located in The Summit at Mars Hill off Mars Hill Road in Oconee County. It sits less than two miles from both Highway 316 and Highway 78. Downtown Athens is approximately 10 minutes away, and Epps Bridge Centre is described as just up the road. Atlanta is roughly an hour away via 316.
For investors, this is a straightforward acquisition because the building is already fully occupied with tenants in place, with no lease-up required. For owner-operators or partners seeking a stabilized, multi-suite office format, the existing professional office buildouts and shared-site parking support continued occupancy and straightforward day-to-day management.
Key Highlights
- Fully leased two‑story office condominium (Building 800) at The Summit at Mars Hill
- 4,692 SF across two stories, built in 2007
- All four suites are occupied with professional office build‑outs and tenants in place
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $101.3k | $21.60 |
| − Vacancy | −$20.4k | −$4.34 |
| EGI | $81.0k | $17.26 |
| − OpEx | −$20.2k | −$4.31 |
| NOI | $60.7k | $12.94 |
4,692 SF · lease $21.60/SF/yr · vacancy 20.10% · expense 25.00%
Alternative Uses
Best Use
Office B
$867.6K
$759.2K – $1.01M
NOI $60,732 @ 7.0% cap · market cap 5.52%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.13M
$989.7K – $1.32M
NOI $79,177 @ 7.0% cap · market cap 7.20%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
AMH, Inc.
Material Handling Equipment Supplier
Imperium Drywall, LLC
Hardware & Home Improvement
Mark Christenson - Raymond ...
Financial Advisor
DOVETAIL CIVIL DESIGN, ...
Civil Engineer
Hulet Smith Jr, ...
Physician
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FAQs
What type of property is this?
Office building - Two-story office condominium with four occupied suites, built in 2007, featuring covered entry and shared parking.
Where is this office building located?
The property is located at 3651 Mars Hill #800 Watkinsville, 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: Fully leased two‑story office condominium (Building 800) at The Summit at Mars Hill; 4,692 SF across two stories, built in 2007; All four suites are occupied with professional office build‑outs and tenants in place
