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Investor Partnership Including ALM Automotive Group Buys Office Building In Peachtree Corners For $6.4M
SOLD
$6,400,000
Georgia
See Similar DealsOffice103,105 SF
Sold 01/02/2025
SOLD
Investor Partnership Including ALM Automotive Group Buys Office Building In Peachtree Corners For $6.4M
6625 The Corners Parkway Northwest
See Similar DealsOffice103,105 SF
Sold 01/02/2025
Summary
GEORGIA
Asset Type:Office
Price Per Square Foot:$62
Total Square Footage:103,105 SF
Transaction Type:Sale
An office building was sold located at 6625 The Corners Parkway Northwest in Peachtree Corners, GA. The property was sold for $6,400,000, encompassing a total space of 103,105 square feet, translating to a price per square foot of $62.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $6,400,000
- Square Footage: 103,105
- Price per Square Foot: $62
- Market: Peachtree Corners, GA
- Brokers: Austin Bull & Michael Bull - Bull Realty
The transaction involved a buyer's partnership that included ALM Automotive Group, which is a current tenant in the building. The property was formerly owned by Ameris Bank. Bull Realty facilitated the all-cash transaction for the office building.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$341,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$22,737.86
Cash-on-Cash Return-1.27%
Monthly Debt Service$30,339.27
Annual Debt Service$364,071.18
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