End-Unit Professional Office
New
For Sale
$160,000
1551 Jennings Mill Road, Watkinsville, GA 30677
COMMERCIAL - Watkinsville, GA
Property Size698 SF
Lot Size0.02 Acres
Price / SF$229.23
Days on Market4
Property Features for 1551 Jennings Mill Road
General Information
Property type
Commercial Sale
Property subtype
Other
Parking features
Parking Lot
Accessibility
Accessible Approach with Ramp
Lot features
Business Park, Corner Lot
Directions
From Atlanta Highway take Jennings Mill Rd for a mile; Resource Valley is on the right. After entering the community head to the right past the mailboxes, take a right at the end of the road and the next first right. Building 2800 is the first on the left and 2800C is on the left hand side.
Standard status
Active
APN
C 01P 028C
Size
698 SF
Lot size
0.02 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
1121
Utilities
Utilities
Water Available
Sewer type
Septic Tank
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
1997
Flooring type
Carpet
Building materials
Brick
Roof type
Composition
Listing Agency:
Real Broker, LLC
(855) 450-0442
Listed By:
Timothy Carithers
(706) 818-0813
Added: Aug 7
Changed: Aug 10
Last Checked: Aug 10 at 3:06PM
MLS# 10822465
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 698-square-foot office condo is a single-level end unit with a brick exterior and a practical layout for professional operations. The suite includes two private offices, a reception area with vaulted ceilings and arched windows, a dedicated storage room, and an ADA-accessible restroom with grab bar. Carpet flooring, crown molding, and a ceiling fan add to the interior finish package. Central heating and central air are provided.
The property is on Jennings Mill Road in Watkinsville, near Epps Bridge Parkway, GA 316, and downtown Athens. Shared parking is available in the on-site parking lot. Public water is available, with a septic tank serving the property. The office is identified as suitable for owner-users, medical or therapy practices, consultants, and small professional service firms.
The property is on Jennings Mill Road in Watkinsville, near Epps Bridge Parkway, GA 316, and downtown Athens. Shared parking is available in the on-site parking lot. Public water is available, with a septic tank serving the property. The office is identified as suitable for owner-users, medical or therapy practices, consultants, and small professional service firms.
Key Highlights
- 698 SF office condo in a single‑level end‑unit configuration
- Two private offices plus reception area, storage room, and restroom
- ADA‑accessible restroom with grab bar and ramp‑accessible approach
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
$9,035
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
5.65%
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%
$180,700
$180.7K
Cap Rate 7%
$129,071
$129.1K
Cap Rate 9%
$100,389
$100.4K
Market Conditions
NOI Build-Up for 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
$15.1K $21.60/SF
− Vacancy
−$3.0K −$4.34/SF
EGI
$12.0K $17.26/SF
− OpEx
−$3.0K −$4.31/SF
NOI
$9.0K $12.94/SF
Area
Oconee County, GA
Vacancy
20.10%
Lease Rate
$21.60 /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%
$180,700
Cap Rate 7%
$129,071
Cap Rate 9%
$100,389
Alternative Uses
Best Use
Healthcare Medical
$129.2K
$113.1K – $150.8K
NOI $9,046 @ 7.0% cap · market cap 5.65%
Second Best
Office B
$129.1K
$112.9K – $150.6K
NOI $9,035 @ 7.0% cap · market cap 5.65%
Theoretical Best
Office A
$168.3K
$147.2K – $196.3K
NOI $11,779 @ 7.0% cap · market cap 7.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
741
Businesses Nearby
Explore this area
Business Placement
Demographics for 30677, GA
20,579
Population
7,797
Households
2.6
Avg Household Size
41
Median Age
55%
College-Educated
97%
High-School Grad
122.2 sq mi
ZIP Area
168
Density / Sq Mi
$103,165
Median Household Income
$49,399
Median Earnings
$1,403
Median Rent
$394,800
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Single-level office condo with private workrooms, reception space, storage, and an accessible restroom.
Where is this office units located?
The property is located at 1551 Jennings Mill Road Watkinsville, GA.
What is the asking price?
The asking price for this property is $160,000.
What are key features of this property?
This property features: 698 SF office condo in a single‑level end‑unit configuration; Two private offices plus reception area, storage room, and restroom; ADA‑accessible restroom with grab bar and ramp‑accessible approach
