5655 Lake Acworth Dr , 220 & 260

Description

Rare opportunity to acquire two income producing office condominium units in the North Cobb Executive Centre. The Centre was developed in 2005 and is conveniently located in N. Cobb County, on GA Hwy. 92, midway between Interstate 75 exits 277 and 278. Easy access with deceleration lanes serving both right turn-in and left turn-in to level parking. Suite 220 is 850 sq. ft. Current tenant has been in place for 7+ years. Suite 260 is 1471 sq. ft. Current tenant has been in place for 8+ years. Minimal landlord responsibilities with long term professional property management team in place and responsible for all exterior maintenance and repairs. North Cobb Executive Centre consists of three individual buildings, totaling 16 office suites, shared parking with a parking ratio of 5+ spaces per 1,000 sq. ft. The majority of the tenants own and occupy their suites. Featuring high end architectural features, brick front facades, pitched roofs, covered entrances and beautiful landscaping. Office condos have taken on a "preferred status for office tenants, offering individual entrances, zero shared interior space, and minimal mandatory requirements/protocols for Covid 19 precautions. Offered at a cap rate of 7.2% with tremendous upside based on below market rental rates.