Value Add Small Bay Indus 12,000 SF 2 Properties Offered at $2,259,806 CAD in Conyers, GA

For sale is 1303-1305 Olympic Court, a 12,000 square foot, two-building, four-unit office-warehouse on 1.11 acres zoned industrial in Conyers, Georgia. The location is 1.3 miles from I-20 Exit 80 in Rockdale County, approximately 25 miles east of downtown Atlanta.

The property is 87.5% leased across three of four units and generates in-place NOI of $81,062, reflecting a 4.92% cap rate on the $1,649,000 asking price. Stabilized NOI is projected at $108,708 (6.59% cap) by Year 3 as below-market gross leases roll to market NNN rates and the remaining 1,500 SF vacancy absorbs.

The 1303 building (6,000 SF / 50% of GLA) is 100% leased to Single Source Inc., a subsidiary of National Coatings & Supplies, a national automotive paint and coatings distributor. Single Source has occupied the premises since 2020 and recently renewed through October 31, 2030 under a gross lease with two 10% rent escalations on November 1, 2027 and November 1, 2029. The lease includes a fenced outdoor storage yard adjacent to the building and a two-year renewal option at market upon expiration.

The 1305 building contains three units under gross leases at $9.00-$12.80/SF compared to a current market range of $12.00-$13.00/SF NNN:
- 1305-A (1,500 SF): H.E. Ragan Inc., expires 3/31/2027; pro forma at market NNN 4/1/2027.
- 1305-B (1,500 SF): vacant, move-in ready with 500 SF office build-out; underwritten at $12.50/SF NNN with lease-up in Q4 2026.
- 1305-C&D (3,000 SF): Aggregate Plant Products, tenant since 2018, expires 6/30/2026; renewal at $12.50/SF NNN underway. Tenant contractually maintains all interior systems including HVAC, plumbing, and electrical, reducing the owner's repairs and maintenance expense.