Multi-Building Flex
For Sale
$1,399,900
Pending
1180 Highway 29 S, Newnan, GA 30263
Commercial Sale, Newnan, GA
Property Size9,345 SF
Lot Size4.95 Acres
Days on Market53
Property Features for 1180 Highway 29 S
General Information
Property type
Commercial Sale
Property subtype
Other
Lot features
Level
Directions
I-85 South to Exit 41, right onto Highway 27/29 traveling North, continue for 0.6 of a mile to property on Right, assault driveway going up to the subject property. No For Sale sign up.
Standard status
Pending
APN
088 2058 003
Size
9,345 SF
Lot size
4.95 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
8207
Utilities
Utilities
Cable Available
Sewer type
Septic Tank
Heating system
Electric (Heating), Central
Cooling system
Electric, Central Air
Water source
Well
Amenities
break room
Building Details
Year built
1979
Flooring type
Concrete
Building materials
Brick, Steel Siding, Stone
Roof type
Metal
Listing Agency:
Lindsey's Inc., Realtors
(770) 253-6990
Listed By:
Tom W Barron · License #245290
(404) 936-7422
Added: Aug 6
Changed: Sep 13
Last Checked: Sep 27 at 4:06AM
MLS# 10825586
Copyright © 2026 Georgia Multiple Listing Service. 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 flex property comprises three separate commercial buildings totaling approximately 9,345 square feet on 4.946 acres. The primary 6,030-square-foot building includes approximately 3,000 square feet of office space with a foyer, eight private offices, an open work area, break room, and separate men’s and women’s restrooms. Its approximately 3,030-square-foot warehouse area has a 16' x 10' roll-up door and a 10' x 8' garage door, while central electric heating and air conditioning serve the office portion.
A second building provides approximately 1,215 square feet of workshop and storage area with two 14' x 12' garage doors, electricity, and water. The third building contains 2,100 square feet and is currently used as a mechanic shop, with three front garage doors, one rear garage door, a restroom, and an upstairs office. The property is zoned Old "C" Commercial and is located at 1180 Highway 29 S in Newnan, near Historic Downtown Newnan, Interstate 85, and Highway 16 East. All three buildings are leased on month-to-month terms.
A second building provides approximately 1,215 square feet of workshop and storage area with two 14' x 12' garage doors, electricity, and water. The third building contains 2,100 square feet and is currently used as a mechanic shop, with three front garage doors, one rear garage door, a restroom, and an upstairs office. The property is zoned Old "C" Commercial and is located at 1180 Highway 29 S in Newnan, near Historic Downtown Newnan, Interstate 85, and Highway 16 East. All three buildings are leased on month-to-month terms.
Key Highlights
- Three‑building flex property totaling approximately 9,345 square feet on 4.946 acres
- Primary building includes approximately 3,000 square feet of office space and 3,030 square feet of warehouse space
- Warehouse has a 16' x 10' roll‑up door and a 10' x 8' garage door
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
$125,140
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
8.94%
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%
$2,502,800
$2.5M
Cap Rate 7%
$1,787,714
$1.8M
Cap Rate 9%
$1,390,444
$1.4M
Market Conditions
NOI Build-Up for 9,345 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
$223.1K $23.87/SF
− Vacancy
−$56.2K −$6.02/SF
EGI
$166.9K $17.85/SF
− OpEx
−$41.7K −$4.46/SF
NOI
$125.1K $13.39/SF
Area
Coweta County, GA
Vacancy
25.20%
Lease Rate
$23.87 /SF/Yr
Expense Ratio
25.00%
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%
$2,502,800
Cap Rate 7%
$1,787,714
Cap Rate 9%
$1,390,444
Alternative Uses
Best Use
Retail
$1.88M
$1.64M – $2.19M
NOI $131,441 @ 7.0% cap · market cap 9.39%
Second Best
Office B
$1.79M
$1.56M – $2.09M
NOI $125,140 @ 7.0% cap · market cap 8.94%
Theoretical Best
Office A
$2.61M
$2.29M – $3.05M
NOI $182,860 @ 7.0% cap · market cap 13.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
8
Drive-in doors
100%
Occupancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
99
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 30263, GA
60,467
Population
23,792
Households
2.5
Avg Household Size
38
Median Age
31%
College-Educated
89%
High-School Grad
198.2 sq mi
ZIP Area
305
Density / Sq Mi
$79,752
Median Household Income
$44,508
Median Earnings
$1,332
Median Rent
$278,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Three buildings combine office, warehouse, workshop, and mechanic-shop space.
Where is this flex space located?
The property is located at 1180 Highway 29 S Newnan, GA.
What is the asking price?
The asking price for this property is $1,399,900.
What are key features of this property?
This property features: Three‑building flex property totaling approximately 9,345 square feet on 4.946 acres; Primary building includes approximately 3,000 square feet of office space and 3,030 square feet of warehouse space; Warehouse has a 16' x 10' roll‑up door and a 10' x 8' garage door
