2,736 SF Medical/Dental Office Condo | Decatur/Stonecrest | 5% Below Appraisal | Owner-User or Investment Opportunity

Highlights:

• 2,736 SF Medical/Dental Office Condo
• $375,250 — 5% Below Recent $395,000 Appraisal
• Move-In-Ready Healthcare Office Configuration
• 7 Exam Rooms + 3 Private Offices, Multiple Sinks + 3 Restrooms, Admin & Waiting areas
• Separate Physician/Staff Entrance
• Covered Patient Drop-Off/Pick-Up Area with ramp to sidewalk
• Ample first-come, first served paved FREE surface parking
• Convenient transportation access nearby to I-20 and MARTA bus line
• MARTA Route 114 bus stop at/near property – direct service to Decatur MARTA Station and Stonecrest
• Owner-User or Lease-Up Investment Opportunity
• Appraisal-Derived Stabilized Cap Potential ≈ 8.5% with a new medical tenant
• Investment Pro Forma Available Upon Request

Description:

2,736 SF MEDICAL/DENTAL OFFICE CONDO – OWNER-USER OR INVESTMENT OPPORTUNITY – PRICED 5% BELOW RECENT APPRAISAL
Commercial Realty of Georgia is pleased to offer for sale Suite 104 at the Snapfinger Medical-Dental Specialty Center, an established medical-office condominium development in the Decatur/Stonecrest area of DeKalb County. The approximately 2,736 SF suite is configured for medical/dental use and offers an excellent opportunity for a physician, dentist or other permitted healthcare professional seeking to own rather than lease office space.
ASKING PRICE: $375,250 – 5% below the property's recent independent appraised value of $395,000.
The suite was substantially updated following its 2021 acquisition. According to the recent appraisal, approximately $56,000 of improvements were completed during 2021-2022, including HVAC repairs/upgrades, flooring, electrical and lighting improvements, painting, crawl-space maintenance/sealing and other repairs and improvements. The appraisal describes the property's overall building quality, condition and appeal as above average.
The existing medical-office configuration includes reception/waiting areas, multiple exam/treatment rooms, private offices, staff/work areas, kitchen/break area, multiple sinks, storage areas and three restrooms. The appraisal identified seven exam rooms, three offices, two lobby areas and a reception area within the current configuration. A separate physician/staff entrance supplements the primary patient entrance.
Convenient ramped sidewalk access is located near the center's covered patient pick-up/drop-off area. The building is constructed over a crawl-space foundation, providing useful under-floor access that may facilitate future plumbing modifications for medical or dental build-out, subject to applicable approvals and code requirements. Individual HVAC controls and direct suite access allow the owner-user to operate independently of traditional multi-tenant office building hours.
The Snapfinger Medical-Dental Specialty Center consists of two single-story office buildings totaling approximately 12,832 SF and containing individually owned professional medical-office condominium suites. Shared surface parking is available throughout the development on a first-come/first-served basis, and the recent appraisal considers parking sufficient for the property.
Condominium documents restrict occupancy to specified medical/dental professional uses, helping preserve the property's specialized healthcare-office environment. Prospective purchasers should review the condominium documents to confirm that their intended use is permitted.
The property offers convenient access from Snapfinger Woods Drive and Easterly Place. I-20 is approximately one mile away via Panola Road, providing connectivity to Downtown Atlanta and the regional expressway system. Other nearby transportation corridors include Panola Road, Covington Highway/US 278 and Turner Hill Road/GA 124. MARTA bus service is available in the immediate area.
OWNER-USER OPPORTUNITY: The Seller has changed its business model and no longer requires a dedicated physical office location. Suite 104 offers a medical or dental owner-user the opportunity to control its occupancy, build equity and reduce dependence upon leased office space while acquiring an established healthcare-office configuration that is substantially ready for continued use.
INVESTMENT OPPORTUNITY: The recent independent appraisal concluded a market base rental rate of approximately $13.50/SF NNN for the subject. The appraisal's stabilized income analysis produced approximately $31,750 in annual NOI. At the current $375,250 asking price, those appraisal-derived assumptions imply a stabilized capitalization rate of approximately 8.5% following lease-up to a qualified medical/dental tenant. Appraisal - 5243.pdfPDF
An illustrative investment pro forma is available from the listing broker upon request. Projections are estimates only and are not representations of existing rental income or future investment performance.
PROPERTY HIGHLIGHTS: Approximately 2,736 SF medical/dental office condominium; $375,250 asking price; priced 5% below recent $395,000 appraisal; substantial 2021-2022 improvements; existing medical-office build-out; multiple exam/treatment rooms; multiple sinks; three restrooms; separate physician/staff entrance; covered patient pick-up/drop-off area; shared surface parking; crawl-space foundation providing useful under-floor access; individual HVAC controls; convenient I-20 access; nearby MARTA service; owner-user or lease-up investment opportunity; illustrative investment pro forma available upon request.

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