1700 Water Pl Atlanta, GA 30339

Property Details for 1700 Water Pl

Year built

1984

Lot size

2.67 lot acres

Property size

37,796 SF

Property type

Office Properties & Spaces

Property subtype

Office buildings

Description

This three-story, 37,796 square foot office building in Atlanta, Georgia, presents a compelling acquisition opportunity. Located on a 2.67-acre lakefront site at 1700 Water Pl SE, Atlanta, GA 30339, this property boasts a prime location near Truist Park and The Battery mixed-use development. Currently 49% occupied with nine tenants, the building offers an average rent of $17.69 per square foot, significantly below market averages of $20.57 per square foot in the Cumberland Galleria submarket. Recent improvements include renovations to common areas, bathrooms, and the 148-space parking lot, enhancing leasing potential and tenant retention. Built in 1984, this multi-tenant office building is priced at $4,500,000, or $119.06 per square foot. The property benefits from its proximity to major attractions and a thriving suburban market experiencing strong population and job growth, making it an ideal investment for those seeking to capitalize on the increasing "back to office" trend and limited new supply. This presents a unique chance to acquire a well-maintained asset at a price point below replacement cost in a high-demand area.