The property is located in Cobb county less than a ½ mile from the Braves new stadium and the Battery. The property was stripped down to the shell in 2017 and completely renovated to Class A standards including a new TPO a roof, all new HVAC and then developed as a coworking facility for Sharedspace of Atlanta.
The building ownership terminated Sharedspace's lease and are currently being running the property as flex office space offering leases from one month to one year. The building can be purchased with the existing revenue or given the short term nature of the membership agreements can be purchased and occupied 100% by a purchaser.
In addition, ownership currently receives approximately $18,000 annually through a parking contract with Elite Parking. Ownership also owns 1.14 acres of rough graded land directly behind 2430 that could potentially be purchased with the building.
Current monthly recurring revenue is approximately $35,0000 exclusive of the Elite Parking contract. Current recurring revenue representants an occupancy level of 65%. The purchase price of the building, including all FFE, is $2,895,000. The purchase price of the building and additional land $3,695,000.
Some of the basic features of 2430 Herodian Way include:
Our facility has 1 Gig Fiber internet (Synchronous 1 Gb Upload and 1 Gb Download).
Five conference rooms are available on site, seating 2 to 14 people each.
The building has a common area kitchen Amenities include refrigerator, microwave, toaster oven, coffee machine, ice maker, dishwasher, dishes, cutlery, and other serving essentials. Each office includes desks, chairs, and a trash can
Eight security cameras in and around the property for 24/7 security
Electronic 24/7 monitoring and access system through Genea formerly Sequr