Medical Office Master-Lease
For Sale
Contact for pricing
3660 Flat Shoals Road, Decatur, GA 30034
Fully occupied medical office property offered with a single master lease under one tenant and one rent payment stream.
Property Size16,734 SF
Price / SF$239.39
Days on Market106
Property Features for 3660 Flat Shoals Road
General Information
Standard status
Active
Size
16,734 SF
Property subtype
Office
Occupancy
100%
Lease Type
Absolute NNN
Investment Type
Sale/Leaseback
Net Operating Income
$346,435
Building Details
Year Built
2007
Year Renovated
2016
Tenancy
Multi
Listing Agency:
Sands Investment Group
(844) 474-4666
Listed By:
Andrew Ackerman · License #GA 311619
Source:
Crexi
Added: Apr 27
Changed: Aug 8
Last Checked: Jul 22 at 10:23AM
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 Sands Investment Group
Investment Insights
Based on property information with market context.
Sands Investment Group is pleased to exclusively offer for sale the Roberts Family Dental multi-tenant medical office property totaling 16,734 SF. The asset is fully occupied and operates under a single master lease with Roberts Family Dental.
This structure creates one tenant, one lease, and a single rent payment stream, simplifying ownership and ongoing rent administration for investors. The property is located at 3660 Flat Shoals Road in Decatur, GA 30034.
This structure creates one tenant, one lease, and a single rent payment stream, simplifying ownership and ongoing rent administration for investors. The property is located at 3660 Flat Shoals Road in Decatur, GA 30034.
Key Highlights
- 16,734 SF multi‑tenant medical office property built in 2007
- Fully occupied medical office asset with stable, needs‑based tenancy
- Operates under a single master lease with Roberts Family Dental
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
$242,626
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
6.06%
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%
$4,852,520
$4.9M
Cap Rate 7%
$3,466,086
$3.5M
Cap Rate 9%
$2,695,844
$2.7M
Market Conditions
NOI Build-Up for 16,734 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
$451.8K $27.00/SF
− Vacancy
−$47.4K −$2.84/SF
EGI
$404.4K $24.17/SF
− OpEx
−$161.8K −$9.67/SF
NOI
$242.6K $14.50/SF
Area
DeKalb County, GA
Vacancy
10.50%
Lease Rate
$27.00 /SF/Yr
Expense Ratio
40.00%
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%
$4,852,520
Cap Rate 7%
$3,466,086
Cap Rate 9%
$2,695,844
Alternative Uses
Best Use
Healthcare Medical
$3.47M
$3.03M – $4.04M
NOI $242,626 @ 7.0% cap · market cap 6.06%
Second Best
Office B
$3.20M
$2.80M – $3.73M
NOI $224,086 @ 7.0% cap · market cap 5.59%
Theoretical Best
Office A
$4.68M
$4.09M – $5.46M
NOI $327,446 @ 7.0% cap · market cap 8.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
891
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 30034, GA
47,450
Population
20,553
Households
2.3
Avg Household Size
38
Median Age
29%
College-Educated
93%
High-School Grad
16.8 sq mi
ZIP Area
2,824
Density / Sq Mi
$60,551
Median Household Income
$39,134
Median Earnings
$1,427
Median Rent
$228,200
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?
Medical Office Space - Fully occupied medical office property offered with a single master lease under one tenant and one rent payment stream.
Where is this medical office space located?
The property is located at 3660 Flat Shoals Road Decatur, GA.
What is the asking price?
The asking price for this property is $4,006,011.
What are key features of this property?
This property features: 16,734 SF multi‑tenant medical office property built in 2007; Fully occupied medical office asset with stable, needs‑based tenancy; Operates under a single master lease with Roberts Family Dental
