Medical Office Space For
For Sale
Contact for pricing
700 Sunset, Athens, GA 30606
Flexible medical office space in established Bishop Professional Park.
Property Size5,200 SF
Price / SF$170
Days on Market155
Property Features for 700 Sunset
General Information
Standard status
Active
Size
5,200 SF
Property subtype
Office
Listing Agency:
5Market Realty
(706) 850-4636
Listed By:
Christina Hammond · License #GA242714
Source:
Crexi
Added: Mar 12
Changed: Aug 10
Last Checked: Aug 12 at 10:08AM
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 5Market Realty
Investment Insights
Based on property information with market context.
This 5,200 sq. ft. medical office space is located in Bishop Professional Park. The light-filled adjoining spaces are suitable for relocating a medical practice or related business. The established medical office complex is within a short distance of both hospitals. The property features over 40 windows providing views of the mature landscaping and park-like setting across from Bishop Park. The ADA-accessible space includes twelve exam rooms, and space for four providers, along with a designated reception area, office, lab, x-ray, and conference rooms. High-quality medical-grade commercial cabinetry and finishes are in place. The joisted masonry construction over a crawl space allows for some alteration of the floor plan. The property is part of an established condo association. Recent upgrades include new crawl space insulation and humidifiers in 2024, new gutters in 2022, and HVAC improvements in 2022. The property is located in Athens, GA 30606.
Key Highlights
- Move‑in ready medical office space featuring 12 exam rooms, reception, office, lab, x‑ray, and conference rooms.
- Located in established Bishop Professional Park, near two hospitals.
- 5,200 sq. ft. of light‑filled space with 40+ windows and park‑like views.**
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
$67,392
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
7.62%
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%
$1,347,840
$1.3M
Cap Rate 7%
$962,743
$962.7K
Cap Rate 9%
$748,800
$748.8K
Market Conditions
NOI Build-Up for 5,200 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
$124.8K $24.00/SF
− Vacancy
−$12.5K −$2.40/SF
EGI
$112.3K $21.60/SF
− OpEx
−$44.9K −$8.64/SF
NOI
$67.4K $12.96/SF
Area
Athens, GA
Vacancy
10.00%
Lease Rate
$24.00 /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%
$1,347,840
Cap Rate 7%
$962,743
Cap Rate 9%
$748,800
Alternative Uses
Best Use
Healthcare Medical
$962.7K
$842.4K – $1.12M
NOI $67,392 @ 7.0% cap · market cap 7.62%
Second Best
Office B
$961.5K
$841.4K – $1.12M
NOI $67,308 @ 7.0% cap · market cap 7.61%
Theoretical Best
Office A
$1.25M
$1.10M – $1.46M
NOI $87,749 @ 7.0% cap · market cap 9.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
919
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 30606, GA
46,798
Population
22,603
Households
2.1
Avg Household Size
33
Median Age
52%
College-Educated
93%
High-School Grad
30.7 sq mi
ZIP Area
1,524
Density / Sq Mi
$61,397
Median Household Income
$35,854
Median Earnings
$1,222
Median Rent
$332,600
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 - Flexible medical office space in established Bishop Professional Park.
Where is this medical office space located?
The property is located at 700 Sunset Athens, GA.
What is the asking price?
The asking price for this property is $884,000.
What are key features of this property?
This property features: Move‑in ready medical office space featuring **12 exam rooms, reception, office, lab, x‑ray, and conference rooms.**; Located in established Bishop Professional Park, near two hospitals.; 5,200 sq. ft. of light‑filled space with 40+ windows and park‑like views.**
