Lakepointe | Office Acquisition Opportunity | 1700 Water Pl SE
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Lakepointe | Office Acquisition Opportunity 1700 Water Pl SE
37,796 SF Vacant Office Building Atlanta, GA 30339 £3,578,814 (£95/SF)
INVESTMENT HIGHLIGHTS
- Opportunity to acquire a 3-story, lake-front office building near The Battery in metro Atlanta at $119/SF.
- Building currently 49% occupied with average rents of $17.62/SF
- Strong potential for continued population and job growth in this popular Atlanta suburban market
- Recent improvements made to common areas, bathrooms, and parking lot to enhance leasing and tenant retention
- Prime location near Atlanta Braves Stadium, Truist Park, and The Battery mixed-use development
EXECUTIVE SUMMARY
Opportunity to acquire a well-located, 3-story, lake-front office building near The Battery in metro Atlanta at only $119/SF. Lakepointe offers investors the opportunity to acquire a property well below replacement costs in one of the best performing office sub-markets of metro Atlanta. Just completed improvements to the common areas, bathrooms, and parking lot pave the way for improved leasing and tenant retention.
The building is currently 49% occupied with average rents of $17.62/SF. CoStar reports 2 star office rents in the Cumberland Galleria average $20.57/SF, with positive absorption over the last 12 months and a vacancy factor of only 4%. The popular location near the Atlanta Braves Stadium, Truist Park, and surrounding mixed use development known as The Battery is poised for continued population and job growth.
The timing is excellent to ride the wave of increasing back to office trends, new supply constraints and continued growth in this popular Atlanta suburban market.
The building is currently 49% occupied with average rents of $17.62/SF. CoStar reports 2 star office rents in the Cumberland Galleria average $20.57/SF, with positive absorption over the last 12 months and a vacancy factor of only 4%. The popular location near the Atlanta Braves Stadium, Truist Park, and surrounding mixed use development known as The Battery is poised for continued population and job growth.
The timing is excellent to ride the wave of increasing back to office trends, new supply constraints and continued growth in this popular Atlanta suburban market.
PROPERTY FACTS
Sale Type
Investment or Owner User
Property Type
Office
Building Size
37,796 SF
Building Class
B
Year Built
1984
Price
£3,578,814
Price Per SF
£95
Percent Leased
Vacant
Tenancy
Multiple
Number of Floors
3
Typical Floor Size
37,796 SF
Building FAR
0.32
Lot Size
2.67 AC
Zoning
OI Office & Institutional
Parking
130 Spaces (3.44 Spaces per 1,000 SF Leased)
MAJOR TENANTS Click Here to Access
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE END
- Argon Agency
- Service type
-
99,999 SF
-
$9.99
- -
- Brooks Injury Law
- Service type
-
99,999 SF
-
$9.99
- -
- Forward Productions Live
- Arts, Entertainment, and Recreation
-
99,999 SF
-
$9.99
- -
- Hatten Family Chiropractic
- Health Care and Social Assistance
-
99,999 SF
-
$9.99
- -
- KeepRite Appliance
- Service type
-
99,999 SF
-
$9.99
- -
- Message Technologies
- Service type
-
99,999 SF
-
$9.99
- -
- Peach State Learning Solutions
- Educational Services
-
99,999 SF
-
$9.99
- -
- Pro Clean USA
- Service type
-
99,999 SF
-
$9.99
- -
- The 404 Agency
- Service type
-
99,999 SF
-
$9.99
- -
| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE END | ||
| Argon Agency | Service type | 99,999 SF | $9.99 | - | ||
| Brooks Injury Law | Service type | 99,999 SF | $9.99 | - | ||
| Forward Productions Live | Arts, Entertainment, and Recreation | 99,999 SF | $9.99 | - | ||
| Hatten Family Chiropractic | Health Care and Social Assistance | 99,999 SF | $9.99 | - | ||
| KeepRite Appliance | Service type | 99,999 SF | $9.99 | - | ||
| Message Technologies | Service type | 99,999 SF | $9.99 | - | ||
| Peach State Learning Solutions | Educational Services | 99,999 SF | $9.99 | - | ||
| Pro Clean USA | Service type | 99,999 SF | $9.99 | - | ||
| The 404 Agency | Service type | 99,999 SF | $9.99 | - |
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PROPERTY TAXES
| Parcel Number | 17-0783-0-011-0 | Improvements Assessment | £648,656 |
| Land Assessment | £310,721 | Total Assessment | £959,377 |
PROPERTY TAXES
Parcel Number
17-0783-0-011-0
Land Assessment
£310,721
Improvements Assessment
£648,656
Total Assessment
£959,377
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Lakepointe | Office Acquisition Opportunity | 1700 Water Pl SE
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