Two-Bay Flex
For Sale
$1,400,000
1595 Access Road, Covington, GA 30014
Commercial Sale, Covington, GA
Property Size6,000 SF
Lot Size1.24 Acres
Price / SF$233.33
Days on Market272
Property Features for 1595 Access Road
General Information
Property type
Residential
Property subtype
Office
Zoning
C1
Parking
21
Parking features
Parking Lot
Window features
Insulated Windows
Interior features
Restrooms
Fencing
Chain Link
Accessibility
Accessible Approach with Ramp
Lot features
Business Park, Level
Directions
Please use GPS
Standard status
Active
APN
0043000000004H00
Size
6,000 SF
Lot size
1.24 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
3379
Utilities
Utilities
Cable Available
Heating system
Electric (Heating), Natural Gas
Cooling system
Central Air
Building Details
Year built
2003
Floors in Building
1
Flooring type
Wood, Carpet
Building materials
Aluminum Siding, Brick
Roof type
Metal
Additional Structures
Outbuilding
Listing Agency:
Atlanta Fine Homes Sotheby's International · Sotheby's International Realty
(404) 874-0300
Listed By:
Jeff Olsen · License #378482
(678) 429-0773
Added: Dec 15, 2025
Changed: Sep 12
Last Checked: Sep 13 at 11:06PM
MLS# 7692967
Copyright © 2026 First Multiple Listing Service, Inc. 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 6,000-square-foot flex facility was built in 2003 and is currently vacant. The building is divided into two bays of approximately 3,000 SF each, creating a practical configuration for a single operator or separate occupants. Two drive-in bay doors, 14-foot clear height, restrooms, central air, natural gas and electric heating, and a metal roof support a range of warehouse, light manufacturing, contractor, and service functions. The property also includes a parking lot, chain-link fencing, and an accessible approach with ramp.
Set on 1.24 acres at 1595 Access Road in Covington, Georgia, the facility is positioned near I-20 East. Interstate traffic is reported at approximately 86,600 vehicles per day, providing exposure along the corridor and access to Covington, Newton County, and the greater Atlanta metro area. Construction includes aluminum siding and brick, with cable available at the property.
Set on 1.24 acres at 1595 Access Road in Covington, Georgia, the facility is positioned near I-20 East. Interstate traffic is reported at approximately 86,600 vehicles per day, providing exposure along the corridor and access to Covington, Newton County, and the greater Atlanta metro area. Construction includes aluminum siding and brick, with cable available at the property.
Key Highlights
- 6,000 square feet on 1.24 acres
- Two bays of approximately 3,000 SF each
- 14‑foot clear height with two drive‑in bay doors
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
$44,045
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
3.15%
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%
$880,900
$880.9K
Cap Rate 7%
$629,214
$629.2K
Cap Rate 9%
$489,389
$489.4K
Market Conditions
NOI Build-Up for 6,000 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
$56.9K $9.48/SF
− Vacancy
−$5.1K −$0.84/SF
EGI
$51.8K $8.64/SF
− OpEx
−$7.8K −$1.30/SF
NOI
$44.0K $7.34/SF
Area
Newton County, GA
Vacancy
8.90%
Lease Rate
$9.48 /SF/Yr
Expense Ratio
15.00%
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%
$880,900
Cap Rate 7%
$629,214
Cap Rate 9%
$489,389
Alternative Uses
Best Use
Warehouse
$629.2K
$550.6K – $734.1K
NOI $44,045 @ 7.0% cap · market cap 3.15%
Second Best
Industrial
$522.2K
$456.9K – $609.2K
NOI $36,551 @ 7.0% cap · market cap 2.61%
Theoretical Best
Office A
$1.68M
$1.47M – $1.96M
NOI $117,406 @ 7.0% cap · market cap 8.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
14 ft
Clear height
2
Drive-in doors
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
68
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 30014, GA
39,247
Population
16,159
Households
2.4
Avg Household Size
39
Median Age
24%
College-Educated
86%
High-School Grad
120.7 sq mi
ZIP Area
325
Density / Sq Mi
$71,055
Median Household Income
$37,714
Median Earnings
$1,199
Median Rent
$253,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Vacant flex property with drive-in access and elevated clear height.
Where is this flex space located?
The property is located at 1595 Access Road Covington, GA.
What is the asking price?
The asking price for this property is $1,400,000.
What are key features of this property?
This property features: 6,000 square feet on 1.24 acres; Two bays of approximately 3,000 SF each; 14‑foot clear height with two drive‑in bay doors
