761 Wheaton St - Office FOR SALE


Savannah, GA 31401- Eastside
$20,250,000 USD
404-876-1640
761 Wheaton St, Savannah, GA for Sale
$20,250,000 USD
Office - FOR SALE
1/45
null | 8% Cap Rate

761 Wheaton St
Savannah, GA 31401
Eastside


OVERVIEW

Opportunity to acquire a beautiful 5-story ±110,445 SF building on ±6.49 acres in Savannah on a 14-year leased to the State of Georgia. The property was developed for The Georgia Division of Family and Children Services in 2004 on a 15-year lease. In 2019, the lease was renewed for 20 years and has 14 years remaining. The tenant may stay much longer than 14 years as they enjoy below market rent from a property tax exemption structure at this property. The Georgia Division of Family and Children Services, (DFCS) provides imperative support services and programs for citizens of Savannah and Chatham County. DFCS services include ensuring the safety of children, finding foster and adoptive homes for children in need, and helping out-of-work parents get back on their feet. They also issue SNAP, Medicaid, and TNAF assistance programs. The impressive building is well located on ±6.49 acres in the path of progress in Savannah, Georgia. Savannah is a high growth metro area with strong economic fundamentals, thriving tourism and continued population expansion.

FOR SALE DETAILS

PRICE

$20,250,000 USD

PRICE/SF

$184 USD /SF

CAP RATE

8%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Single-Tenant | 8% Cap Rate | 14-Year Lease

PROPERTY TYPE

Office

TOTAL BUILDING SIZE

-

STORIES

5

BUILDING CLASS

A

YEAR BUILT

2004

SPRINKLERS

-

PARKING SPACES

402

LAND DETAILS

LAND ACRES

6.49 AC

LAND SF

282,704 SF

ZONING

I-L

APN/PARCEL ID

2003312030

ASK ABOUT THIS PROPERTY

Michael BullBull Realty Inc.More Info
404-876-1640

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Michael BullBull Realty Inc.More Info
404-876-1640

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.