Fully Leased Office Condominium
3651 Mars Hill Road Watkinsville, GA 30677
For Sale
$1,100,000
SINGLE_FAMILY - Watkinsville, GA
Property Size4,692 SF
Lot Size0.05 Acres
Price / SF$234.44
Days on Market62
Property Features for 3651 Mars Hill Road
General Information
- Property type
- Residential
- Property subtype
- Office
- Zoning
- OIP
- Parking
- 10
- Appliances
- Electric Water Heater, Microwave, Refrigerator
- Standard status
- Active
- APN
- B 02L 080
- Size
- 4,692 SF
- Lot size
- 0.05 Acres
Taxes and HOA fees
- Tax Year
- 2018
- Tax Description
- 1632 208
Utilities
- Sewer type
- Public Sewer
- Heating system
- Electric (Heating), Central
- Cooling system
- Central Air, Electric
- Water source
- Public
Building Details
- Year built
- 2007
- Floors in Building
- 2
- Building materials
- Brick
Listing Agency:
NAI Elrod Group
(706) 553-1000
Listed By:
Brian Elrod · License #251606
(678) 859-6110
Added: May 27
Changed: Jul 1
Last Checked: Jul 27 at 2:06AM
MLS# CL357888
Copyright © 2026 Hive MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Building 800 at The Summit at Mars Hill is a fully leased office condominium building with 4,692 square feet across two stories. Built in 2007, it features a brick and frame exterior and a covered entry. The building is well maintained and professionally presented, with ample shared parking to support day-to-day tenant access.
The property is located in The Summit at Mars Hill off Mars Hill Road in Oconee County. It is less than one mile from both Highway 316 and Highway 78. Downtown Athens is about 10 minutes away, and Epps Bridge Centre is just up the road, with Atlanta accessible in roughly an hour via 316.
The building contains four office suites, and all suites are currently occupied with professional office build-outs and tenants in place. This setup can be appealing to investors seeking an acquisition with income beginning at closing, without the need for lease-up. Tenants and buyers are also supported by on-site shared parking and a straightforward condominium-style ownership structure within the Summit at Mars Hill office community.
The property is located in The Summit at Mars Hill off Mars Hill Road in Oconee County. It is less than one mile from both Highway 316 and Highway 78. Downtown Athens is about 10 minutes away, and Epps Bridge Centre is just up the road, with Atlanta accessible in roughly an hour via 316.
The building contains four office suites, and all suites are currently occupied with professional office build-outs and tenants in place. This setup can be appealing to investors seeking an acquisition with income beginning at closing, without the need for lease-up. Tenants and buyers are also supported by on-site shared parking and a straightforward condominium-style ownership structure within the Summit at Mars Hill office community.
Key Highlights
- Fully leased office condominium building (Building 800) with 4,692 SF across two stories in Oconee County
- Built in 2007 with brick and frame exterior and a covered entry
- All four suites are occupied by professional office tenants (income from day one; no lease‑up required)
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
Property Profile
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
FAQs
What type of property is this?
Office building - Two-story office condominium with professionally built-out suites and shared parking, all currently occupied.
Where is this office building located?
The property is located at 3651 Mars Hill Road 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 office condominium building (Building 800) with 4,692 SF across two stories in Oconee County; Built in 2007 with brick and frame exterior and a covered entry; All four suites are occupied by professional office tenants (income from day one; no lease‑up required)
