C-3 Zoned Residential Income
For Sale
$230,000
1019 Elberta Road, Warner Robins, GA 31093
COMMERCIAL - Warner Robins, GA
Property Size1,698 SF
Lot Size0.74 Acres
Price / SF$135.45
Days on Market706
Property Features for 1019 Elberta Road
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
C3
Subdivision
All Watson Blvd. North
Standard status
Active
Size
1,698 SF
Lot size
0.74 Acres
Utilities
Sewer type
Septic Tank
Heating system
Electric (Heating), Central
Cooling system
Electric, Central Air
Listing Agency:
BONAIRE REALTY
(478) 256-9882
Listed By:
Jackie Hunnicutt · License #208540
(478) 256-9882
Added: Sep 23, 2024
Changed: Aug 4
Last Checked: Aug 29 at 2:06PM
MLS# 245914
Copyright © 2026 Central Georgia MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This single-family residential income property is currently occupied by a tenant and is being offered for sale. The home has approximately 1,698 square feet of living space and sits on about 0.74 acres.
The property is located at 1019 Elberta Road in Warner Robins, Georgia, within Houston County. It is zoned C-3 residential.
For buyers seeking a tenant-occupied, C-3 zoned residential asset, this property offers a straightforward residential income configuration on a sizable lot.
The property is located at 1019 Elberta Road in Warner Robins, Georgia, within Houston County. It is zoned C-3 residential.
For buyers seeking a tenant-occupied, C-3 zoned residential asset, this property offers a straightforward residential income configuration on a sizable lot.
Key Highlights
- Zoned C‑3 residential
- Central heating with electric heating
- Central air conditioning with electric cooling
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$12,957
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.63%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$259,140
$259.1K
Cap Rate 7%
$185,100
$185.1K
Cap Rate 9%
$143,967
$144.0K
Market Conditions
NOI Build-Up for 1,698 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$25.1K $14.76/SF
− Vacancy
−$1.5K −$0.89/SF
EGI
$23.6K $13.87/SF
− OpEx
−$10.6K −$6.24/SF
NOI
$13.0K $7.63/SF
Area
Houston County, GA
Vacancy
6.00%
Lease Rate
$14.76 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$259,140
Cap Rate 7%
$185,100
Cap Rate 9%
$143,967
Alternative Uses
Best Use
Apartment 5plus
$185.1K
$162.0K – $216.0K
NOI $12,957 @ 7.0% cap · market cap 5.63%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$366.5K
$320.7K – $427.6K
NOI $25,654 @ 7.0% cap · market cap 11.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
334
Businesses Nearby
Explore this area
Business Placement
Demographics for 31093, GA
28,614
Population
13,275
Households
2.2
Avg Household Size
37
Median Age
16%
College-Educated
87%
High-School Grad
20.4 sq mi
ZIP Area
1,403
Density / Sq Mi
$48,186
Median Household Income
$32,542
Median Earnings
$966
Median Rent
$137,900
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Single family property - Residential income home offered for sale and currently occupied by a tenant, zoned C-3.
Where is this single family property located?
The property is located at 1019 Elberta Road Warner Robins, GA.
What is the asking price?
The asking price for this property is $230,000.
What are key features of this property?
This property features: Zoned C‑3 residential; Central heating with electric heating; Central air conditioning with electric cooling
