Industrial Warehouse with Dock
For Sale
$710,000
161 Fritz Mar Lane, Athens, GA 30607
Commercial Sale, Athens, GA
Property Size4,000 SF
Lot Size3.19 Acres
Price / SF$177.50
Days on Market877
Property Features for 161 Fritz Mar Lane
General Information
Property type
Commercial Sale
Property subtype
Other
Property condition
Under Construction
Parking
11
Parking features
Parking Lot
Lot features
Industrial Park
Directions
Take Branch St and Herring St to S Peter St 1 min (0.4 mi) Take E Broad St to Willow St 2 min (0.5 mi) Continue on Willow St to Barber St 4 min (1.5 mi) Continue on Barber St to Fritz Mar Ln 3 min (1.5 mi) Continue on Fritz Mar Ln to your destination 2 min (0.3 mi)
Standard status
Active
APN
112 020
Size
4,000 SF
Lot size
3.19 Acres
Taxes and HOA fees
Tax Year
23
Tax Annual Amount
878
Utilities
Utilities
Water Available
Sewer type
Public Sewer
Water source
Public
Building Details
Year built
2025
Flooring type
Concrete
Building materials
Aluminum Siding, Brick
Roof type
Metal
Listing Agency:
Keller Williams Greater Athens · Keller Williams Realty
(706) 316-2900
Listed By:
Brittany D Purcell · License #324606
(706) 389-0771
Added: Apr 10, 2024
Changed: Aug 19
Last Checked: Sep 3 at 8:06PM
MLS# 10497261
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 under-construction warehouse comprises 4,000 square feet on a 3.19-acre commercial tract in Athens, Georgia. The shell building is planned with metal construction, a brick front, concrete flooring, insulation, two front entry doors, and two dock-high roll-up doors. A metal roof is specified, with parking provided in a lot.
The property is zoned I and located within the ACC TAD district. Public water and public sewer serve the project, while a 4-inch sewer stub, 3/4-inch water line, electrical service, and meter base are included with the building. Interior plumbing, electrical, and HVAC are excluded. Roads and sidewalks have been developed by the seller, and landscaping is planned as part of the project. Delivery is expected by year-end.
The property is zoned I and located within the ACC TAD district. Public water and public sewer serve the project, while a 4-inch sewer stub, 3/4-inch water line, electrical service, and meter base are included with the building. Interior plumbing, electrical, and HVAC are excluded. Roads and sidewalks have been developed by the seller, and landscaping is planned as part of the project. Delivery is expected by year-end.
Key Highlights
- 4,000 square feet of warehouse space on a 3.19‑acre tract
- Two dock‑high roll‑up doors and two front entry doors
- Metal construction with a brick front, insulation, concrete flooring, and metal roof
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
$29,363
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
4.14%
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%
$587,260
$587.3K
Cap Rate 7%
$419,471
$419.5K
Cap Rate 9%
$326,256
$326.3K
Market Conditions
NOI Build-Up for 4,000 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
$37.9K $9.48/SF
− Vacancy
−$3.4K −$0.84/SF
EGI
$34.5K $8.64/SF
− OpEx
−$5.2K −$1.30/SF
NOI
$29.4K $7.34/SF
Area
Athens, 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%
$587,260
Cap Rate 7%
$419,471
Cap Rate 9%
$326,256
Alternative Uses
Best Use
Warehouse
$419.5K
$367.0K – $489.4K
NOI $29,363 @ 7.0% cap · market cap 4.14%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$964.3K
$843.8K – $1.13M
NOI $67,500 @ 7.0% cap · market cap 9.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Dock-high doors
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
177
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 30607, GA
11,383
Population
4,504
Households
2.5
Avg Household Size
37
Median Age
36%
College-Educated
85%
High-School Grad
37.2 sq mi
ZIP Area
306
Density / Sq Mi
$63,727
Median Household Income
$35,972
Median Earnings
$1,012
Median Rent
$235,000
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Warehouse - Shell construction includes insulation, utility connections, and a metal exterior with a brick front.
Where is this warehouse located?
The property is located at 161 Fritz Mar Lane Athens, GA.
What is the asking price?
The asking price for this property is $710,000.
What are key features of this property?
This property features: 4,000 square feet of warehouse space on a 3.19‑acre tract; Two dock‑high roll‑up doors and two front entry doors; Metal construction with a brick front, insulation, concrete flooring, and metal roof
