Augusta Warehouse for rent

Warehouse Description

For sale or lease is a 16,095 square foot office building on Laney Walker Boulevard in downtown Augusta, GA. Located in a federal tax incentive opportunity zone, the building sits directly across from the Richmond County Health Department and just under a half mile from the Downtown Medical District. It provides convenient access to major roadways, including Walton Way, Gordon Highway, Calhoun Expressway, Riverwatch Parkway, I-20, and I-520.

The Class A office building features three floors, each measuring 5,365 square feet, complete with private bathrooms and conference rooms. The recently reduced price makes it an attractive investment opportunity.

Previously occupied by the city of Augusta's law, water, and housing and community development departments, the building offers an ideal layout for owner-occupants seeking ample individual offices over an open floor plan. The second floor has recently undergone renovations, featuring 19 individual offices and a large conference room, while the first and third floors accommodate current tenants occupying about half of the available space.

The building generates an income of over $80,000, with the potential to reach $152,000 when all floors are rented out. Expenses for the building typically range between $75,000 and $85,000 annually. The ideal scenario is for an occupant to occupy the second floor and utilize the rental income from the first and third floors to cover the entire building's expenses and mortgage, essentially making it low-cost or free to the end-user.

The third floor comprises 17 individual offices, a common workspace, and a large conference room. Individual offices can be rented for $400 to $500 per month, and nine are currently vacant. The first floor has three tenants occupying eight offices and a common workspace area, with one customer service-oriented space available for rent. The current income is $3,265 per month.

The second floor, with 19 private offices and one large conference room, previously rented for $18 per square foot per year full service. With the market softening, the current asking rent is $14.95, bringing in an estimated $6,683 per month. The building includes an elevator and well-maintained mechanical systems.