5705 Atlanta Hwy Alpharetta, GA 30004-3943
- Banks
- 2,610 SF
- 0.82 lot acres
Current Use by Public Records
- Farzeen Khurram, MD / Emergency Care Physician
Property Details for 5705 Atlanta Hwy
- Year built
- 1997
- Lot size
- 0.82 lot acres
- Property size
- 2,610 SF
- Zone code
- CBD
- Property type
- Banks
- APN
- 018 099
- APU
- 18099
Description
This exceptional investment opportunity presents a 2,800 square foot medical office building in Alpharetta, Georgia, boasting a fee-simple ownership structure. The property, built in 1997 and renovated in 2022, sits on a 0.96-acre pie-shaped lot at a signalized intersection of Highway 9 and Grassland Parkway, offering excellent visibility. Currently 100% occupied by WellStar Primary Care under a corporate-guaranteed, Net Lease agreement, the property features a 7-year remaining lease term (commencing May 22, 2022, and expiring May 31, 2032), with two 5-year options. The lease includes annual rent bumps of 2% throughout the base term and option periods, generating a substantial net operating income (NOI) of $108,824. The property benefits from a strong location within the affluent Alpharetta MSA, minutes from Halcyon, a major mixed-use development, and near significant roadways with high daily traffic volume. The surrounding area boasts a robust daytime population and a high concentration of businesses, creating a desirable market for healthcare services. This investment offers a compelling 5.00% cap rate and a price per square foot of $792.87, representing a strong return on investment. The property's strategic location, strong tenant, and favorable lease terms make it an attractive addition to any portfolio. The building is a single-story structure with a highly visible location, providing excellent access and ample parking. The tenant, WellStar Health System, Inc., is the largest and most integrated healthcare system in Georgia, ensuring financial stability and long-term lease security.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $900,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $975,000
- 6.5%
- $900,000
- 7%
- $925,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $1,000,000
- Geo Method
- $965,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $1,095,000
- Retail
- $890,000
- Mixed-Use
- $810,000
- Hospitality
- $785,000
- Educational
- $1,090,000
- Residential Income
- $945,000
- Energy
- $1,045,000
- Income-Based Land
- $925,000
- Food Service
- $910,000
Location Insight
- Map
- Local Demand
- City
- Alpharetta
- County
- Forsyth
- State
- Georgia
- Longitude
- -84.2506
- Latitude
- 34.1435
- CBSA code
- 12060
- CBSA name
- ATLANTA-SANDY SPRINGS-MARIETTA, GA METROPOLITAN STATISTICAL AREA
