Medical/Office Space on Highway
4124 Hwy 278 Covington, GA 30014
4124 Hwy 278, Covington, GA, 30014
$890,000
For Sale
$890,000
Move-in ready medical/office space near Piedmont Newton Hospital.
Property Size3,448 SF
Lot Size0.12 Acres
Price / SF$258.12
Days on Market313
Property Features for 4124 Hwy 278
General Information
- Standard status
- Active
- Size
- 3,448 SF
- Lot size
- 0.12 Acres
- Property subtype
- Commercial
Building Details
- Year Built
- 1998
Listing Agency
Main Street Land & Properties
(770) 314-8026
Listed by
Kharmin Beam · License #281994
Source
Corcoran
Added: Sep 11, 2025 Checked: Jul 20 at 4:06 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 Main Street Land & Properties
Investment Insights
Based on property information with market context.
This 3,448 square foot medical/office space is move-in ready and features a location on Highway 278 in Covington. The property is configured for medical use, including five functional patient rooms with the potential for more. It includes two restrooms and two patient rooms equipped with sinks. An oversized waiting room is available. Parking is ample in both the front and rear of the building, with easy access. The property is located in the heart of Highway 278, across the street from the upcoming Jackson Market development, which will include tenants such as McAlisters, Chicken Salad Chick, Sage Dental, Nail Bar, Five Guys, and Touch Down Wings. Piedmont Newton Hospital is less than one mile away. The property is part of the Covington Professional Park HOA, with estimated dues of $250.00 per month. The owner will have marquee signage at the Highway 278 entrance. Current owners include Greystone OBGYN, Piedmont Family Medicine, and Newton County Government. This property is intended for medical or office use.
Key Highlights
- 3448 sq ft medical/office space ready for immediate move‑in
- Prime location on Hwy 278 in Covington, near Piedmont Newton Hospital
- Located across from the new Jackson Market development
Local Financial Insights For Healthcare Medical
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 | $93.1k | $27.00 |
| − Vacancy | −$9.8k | −$2.84 |
| EGI | $83.3k | $24.17 |
| − OpEx | −$33.3k | −$9.67 |
| NOI | $50.0k | $14.50 |
3,448 SF · lease $27.00/SF/yr · vacancy 10.50% · expense 40.00%
Alternative Uses
Best Use
Healthcare Medical
$714.2K
$624.9K – $833.2K
NOI $49,993 @ 7.0% cap · market cap 5.62%
Second Best
Office B
$659.6K
$577.2K – $769.5K
NOI $46,172 @ 7.0% cap · market cap 5.19%
Theoretical Best
Office A
$963.8K
$843.4K – $1.12M
NOI $67,469 @ 7.0% cap · market cap 7.58%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Medical Office Space
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FAQs
What type of property is this?
Medical Office Space - Move-in ready medical/office space near Piedmont Newton Hospital.
Where is this medical office space located?
The property is located at 4124 Hwy 278 Covington, GA.
What is the asking price?
The asking price for this property is $890,000.
What are key features of this property?
This property features: 3448 sq ft medical/office space ready for immediate move‑in; Prime location on Hwy 278 in Covington, near Piedmont Newton Hospital; Located across from the new Jackson Market development
