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Property profile & analytics
OFF-MARKET
Estimated value
$21,385,000
Office buildings
1640 Airport NW Rd Kennesaw, GA 30144-7038
Entity Owned
~
Est. High Equity
Property ID
US22-1670127
Property summary
AI-generated overview
This exceptional 14,400-square-foot industrial warehouse is available for lease in Kennesaw, Georgia. Located at 1640 Airport Road in Cobb County, this single-tenant property offers convenient access to major transportation arteries, including I-75 and I-575, via nearby Cobb Parkway. The building boasts a generous 11'9" ceiling height, providing ample vertical space for storage and operations. Access is facilitated by one dock-high door and one drive-in door equipped with a concrete ramp, ensuring efficient loading and unloading. The warehouse space is complemented by a well-designed office area, featuring ten individual offices and several multi-purpose rooms, ideal for a variety of business needs. Ample parking is available on-site, providing convenient parking for employees and visitors. The property is classified as industrial, with a warehouse subtype, and is situated in the 30144 zip code. This property presents a significant opportunity for businesses seeking a functional and strategically located warehouse space in the thriving Kennesaw market. The entire 14,400 square feet is currently vacant and ready for immediate occupancy.
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1991
Total area
135,425 SF
Lot
10.84 ac (472,190 SF)
Zoning code
LI
APN
20017400200
UPID
US22-1670127
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Harden Jacquelin S Physician
-
Kelly Michele J Physician
-
Flynn John Physician
-
Quipment Inc. Production Facility
-
Optimum Physician Services Medical Clinic
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$29.76M
Comparable Approach
Comparable
$13.75M
Blend (final)
Blend
$21.39M
Owner & transaction history
1640 Airport Road Kennesaw LLC
1640 Airport Road Kennesaw LLC
since 2025
Last sale
$25.7M
7 recorded transactions
Zoning & alternative use
LI · Kennesaw, GA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$33.3M
+78.2%
Retail stores
$29.5M
+58.1%
Apartment house (5+ units)
$28.9M
+55.1%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Kennesaw submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Kennesaw submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$32,240,000
6.5%
$29,760,000
7%
$27,635,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$18,665,000
Current use
MEDICAL BUILDING
$33,265,000
Change: +78% · Conversion: Easy
RETAIL STORES
$29,510,000
Change: +58% · Conversion: Moderate
APARTMENT HOUSE (5+ UNITS)
$28,945,000
Change: +55% · Conversion: Easy
AUTO REPAIR, GARAGE
$26,950,000
Change: +44% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$26,535,000
Change: +42% · Conversion: Difficult
Blend value · Realmo final
$21.39M
Range $19.25M – $23.52M · ±10% · vs last sale $25.69M (May 1 2025)
Last sale anchor
$25.69M
May 1 2025
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$158 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$152,471
Tax year 2024
Assessed value
$4,337,720
Assessed 2024
Previous assessed
$3,856,480
+12.5% YoY
Effective rate
3.52%
On assessed value
Assessed land
$804,572
Assessed improvement
$3,533,148
Land market value
$2,011,430
Improvement market value
$8,832,870
Total market value
$10,844,300
Applied tax rate
8.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1991
Heating
NONE
Total area
135,425 SF
Lot
10.84 ac (472,190 SF)
Zoning code
LI
APN
20017400200
UPID
US22-1670127
Jurisdiction
COBB
Zoning & alternative use
LI · Kennesaw, GA
Zoning LI · permitted uses
LI · Kennesaw, GA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Kennesaw. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$18.7M
MEDICAL BUILDING
Est. value
$33.3M
RETAIL STORES
Est. value
$29.5M
APARTMENT HOUSE (5+ UNITS)
Est. value
$28.9M
AUTO REPAIR, GARAGE
Est. value
$27.0M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$26.5M
OFFICE BUILDING Current
MEDICAL BUILDING
RETAIL STORES
APARTMENT HOUSE (5+ UNITS)
AUTO REPAIR, GARAGE
NEIGHBORHOOD: SHOPPING CENTER
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1991
Heating
NONE
Lot
10.84 ac
Current owner
From public records · entity-resolved
1640 Airport Road Kennesaw LLC
Entity
Mailing address
3520 PO BOX 250509TH RD NE STE #410, ATLANTA, GA 30325-1509
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 31, 2025
$25,694,497
1640 Airport Road Kennesaw LLC
Lit Hodges Industrial Trust
Deed
—
Jul 31, 2025
—
1640 Airport Road Kennesaw LLC
Lit Hodges Industrial Trust
Quitclaim Deed
related
—
Sep 9, 2016
—
Lit Of Hodges Industrial Trust
—
Deed
related
$25,639,000 · Miscellaneous Ins Co
Feb 20, 2004
$6,974,700
Md Hodges Ents INC
Rees 207 LLC
Grant Deed
related
$39,600,000 · Suntrust Bank NA
—
—
Lit Of Hodges Industrial Trust
—
Deed Of Trust
related
$48,804,894 · Prudential Insurance Co
—
—
Lit Of Hodges Industrial Trust
—
Deed Of Trust
related
$25,639,000 · Miscellaneous Ins Co
—
—
Lit Of Hodges Industrial Trust
—
Deed Of Trust
related
$25,639,000 · Miscellaneous Ins Co
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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