SVN is pleased to offer for sale a 6,895 SF+- commercial condominium leased investment providing an 9% cap rate on 2021 projected net income with a lease through March 31, 2024 and one 5 year renewal option. The business is a fitness studio with a 12+ year history at the location. The tenant is an experienced operator in place since 2019, and has weathered the challenges of Covid 19 well.
Unit 475 is a 6,895 SF fitness studio located in the Morgan Falls Business Park office condominium development on Roswell Road in Sandy Springs. The end unit features abundant natural light through an 8’ high glass wall to a 16’ exposed ceiling space configured as largely open plan with administrative office, breakroom, customer showers / change area, massage therapy and laundry room.
Originally built in 1986, the space was substantially renovated in 2008 for a fitness studio. The owner’s association is responsible for roof, parking lot and grounds. In 2019, the HVAC was replaced and cosmetic upgrade completed, providing the next owner with a low maintenance investment.
Morgan Falls Business Park has over 244,000 SF of primarily office space in five buildings. The park is 80% leased with an asking rent of $15.50 SF on a modified gross lease, and tenants paying utilities and janitorial. The location on Roswell Road is 9 minutes from GA 400 and 11 minutes from the North Sandy Springs MARTA station.
Highlights
6,895 SF+- condominium leased investment
9% cap rate on 2021 projection / leased through March 31, 2024
Business with 12+ year history at the location / current tenant in place since 2019
Low maintenance / substantial interior renovation 2008 / HVAC replaced 2019
Morgan Falls Business Park / 5 building 244,000 SF+ professional setting
No part of this information may be copied, reproduced, repurposed, or screen-captured for any commercial purpose without prior written authorization from MyEListing.
While we strive to provide the most accurate information, all listing information, and demographic data, is provided by third-parties. As such, MyEListing will not be responsible for the accuracy of the information. It is strongly recommended that you verify all information with the listing agent, and any relevant agencies, prior to making any decisions.
