Medical Office Space with
For Sale
$875,000
670 S 8th St, Griffin, GA 30224
Occupied medical office property located one block from Spalding WellStar Hospital.
Property Size4,558 SF
Price / SF$191.97
Days on Market88
Property Features for 670 S 8th St
General Information
Standard status
Active
Size
4,558 SF
Additional Details
Gross Income
$75,111
Building Details
Year Built
1974
Buildings
1
Building Size
4,558 SF
Tenancy
Single
Owner Occupied
No
Listing Agency:
Murray Company, Realtors
Listed By:
Niles Murray · License #10924
(770) 227-8661
Source:
Jetsetrealty
Added: Jul 20
Changed: Oct 8
Last Checked: Oct 6 at 12:07AM
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 Murray Company, Realtors
Investment Insights
Based on property information with market context.
This 4558-square-foot medical office building was constructed in 1974 and is currently leased to Labcorp. The property is located at 670 S 8th St in Griffin, GA 30224, one block from Spalding WellStar Hospital. The existing lease arrangement places property taxes and fire insurance among the landlord’s responsibilities. The asset is offered for sale as an established medical-office property with an operating tenant in place.
Key Highlights
- 4558 SF medical office building
- Currently leased to Labcorp
- One block from Spalding WellStar Hospital
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$66,086
Cap Rate
7.55%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,321,720
$1.3M
Cap Rate 7%
$944,086
$944.1K
Cap Rate 9%
$734,289
$734.3K
Market Conditions
NOI Build-Up for 4,558 SF
Gross rent
$123.1K $27.00/SF
− Vacancy
−$12.9K −$2.84/SF
EGI
$110.1K $24.17/SF
− OpEx
−$44.1K −$9.67/SF
NOI
$66.1K $14.50/SF
Area
Spalding 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 Rate 5%
$1,321,720
Cap Rate 7%
$944,086
Cap Rate 9%
$734,289
Alternative Uses
Best Use
Healthcare Medical
$944.1K
$826.1K – $1.10M
NOI $66,086 @ 7.0% cap · market cap 7.55%
Second Best
Office B
$871.9K
$763.0K – $1.02M
NOI $61,036 @ 7.0% cap · market cap 6.98%
Theoretical Best
Office A
$1.28M
$1.12M – $1.49M
NOI $89,592 @ 7.0% cap · market cap 10.24%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,694
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 30224, GA
26,696
Population
11,457
Households
2.3
Avg Household Size
40
Median Age
22%
College-Educated
88%
High-School Grad
67.7 sq mi
ZIP Area
394
Density / Sq Mi
$70,134
Median Household Income
$39,667
Median Earnings
$1,105
Median Rent
$210,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Occupied medical office property located one block from Spalding WellStar Hospital.
Where is this medical office space located?
The property is located at 670 S 8th St Griffin, GA.
What is the asking price?
The asking price for this property is $875,000.
What are key features of this property?
This property features: 4558 SF medical office building; Currently leased to Labcorp; One block from Spalding WellStar Hospital
