Marcus & Millichap Sells Woodside Terrace Office Building In Alpharetta, GA For $14.5M By Buyer Free Chapel Worship Center
3755 Mansell Road
$14,500,000
$117/SF
Building Size
123,982 SF
Asset Type
Office
Closing
Jan 16, 2024
AI
Marcus & Millichap has sold the Woodside Terrace Class A Office Building in Alpharetta, Georgia, for $14.5 million. The property is located at 3755 Mansell Road and spans 9.89 acres. It is an office asset with a total area of 123,982 square feet. The sale price amounts to $117 per square foot.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $14,500,000
- Address: 3755 Mansell Road
- Market: Alpharetta, GA
- Acres: 9.89
- Square footage: 123,982
- Price per square foot: $117
The sale of the Woodside Terrace Class A Office Building was facilitated by Bob Johnson and Paul Johnson of Marcus & Millichap. They represented both the buyer and seller in the transaction.
The property was originally acquired by Ravi Zacharias International Ministries in 2016. It underwent significant tenant improvements, including the addition of a TV and recording studio. These improvements attracted the buyer, Free Chapel Worship Center.
Players
Alpharetta Office Market Snapshot
Boundary boundary · Office · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.09%
Cash-on-Cash
-0.31%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93