716 Wheaton st | Savannah, GA 31401
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716 Wheaton st
Savannah, GA 31401
DFCS Building - Chatham County GA · Office Property For Sale
Investment Highlights
- 100% Occupancy - State of Georgia DFCS
- AAA Credit Tenant
- High Growth MSA
- Leased till 2039
- 6.49 Acre site near Downtown Savannah GA
Executive Summary
The Newmark Government Capital Markets team , on behalf of ownership, is pleased to present qualified investors with the opportunity to acquire a 110,445 square foot office building that is currently 100% leased by the State of Georgia. The Property was an original build-to-suit project for the Department of Family and Children Services ("DFCS") in 2004. DCFS operated under an original fifteen (15) year lease, which was renewed in 2019 for an additional twenty (20) years. The lease expires in 2039 and features annual rental increases of 2.1% beginning Lease Year 16. The lease is full service in nature with Landlord responsibility. The lease guarantor - the State of Georgia - maintains a AAA (stable) credit rating from Standard & Poor's.
PROPERTY FACTS
Sale Type
Investment
Property Type
Office
Building Size
110,445 SF
Building Class
C
Year Built/Renovated
2004/2019
Price
$29,923,147 CAD
Price Per SF
$271 CAD
Cap Rate
7.85%
NOI
$2,348,967 CAD
Percent Leased
100%
Building Height
5 Stories
Typical Floor Size
22,089 SF
Building FAR
1.40
Lot Size
1.81 AC
Opportunity Zone
Yes
Parking
21 Spaces (0.19 Spaces per 1,000 SF Leased)
PROPERTY TAXES
| Parcel Number | 2001415005 | Improvements Assessment | $69,052 CAD |
| Land Assessment | $328,994 CAD | Total Assessment | $398,046 CAD |
PROPERTY TAXES
Parcel Number
2001415005
Land Assessment
$328,994 CAD
Improvements Assessment
$69,052 CAD
Total Assessment
$398,046 CAD
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