Georgia Medical Building on the Auction Block
- Dec 06, 2016
by Evelina Croitoru
Atlanta—Heritage Zetabid Realty & Auction Services, a division of Heritage Global Inc., has announced the public auction sale of a fully leased medical office building in Lawrenceville, Ga.
Located at 545 Old Norcross Road, the 14,688-square-foot building was built in 2001. The starting bid is $900,000, but the property was previously listed for $1.4 million. The online sealed bid auction is scheduled to take place December 12-15, 2016, and will be conducted at www.zetabid.com.
“This prime medical office building is being sold by order of the lender/special servicer and represents an outstanding investment opportunity to acquire a fully leased and ideally located medical building complete with 60-car parking at below replacement cost. At the starting bid price, the net operating income for the facility produces a cap rate of over 13 percent,” Michael Davin, managing director of Heritage Zetabid Realty & Auction Services, said in prepared remarks.
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