Investor Partnership Including ALM Automotive Group Buys Office Building In Peachtree Corners For $6.4M
6625 The Corners Parkway Northwest
$6,400,000
$62/SF
Building Size
103,105 SF
Asset Type
Office
Closing
Jan 2, 2025
About this deal
AI
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.
Players
Norcross 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
2.48%
Cash-on-Cash
-0.71%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93