Corner Commercial
For Sale
$369,900
Pending
201 New Franklin Road, Lagrange, GA 30240
Commercial Sale, Lagrange, GA
Property Size2,014 SF
Lot Size0.37 Acres
Days on Market182
Property Features for 201 New Franklin Road
General Information
Property type
Commercial Sale
Property subtype
Other
Parking features
Parking Lot, On Street
Window features
Display Window(s)
Lot features
Corner Lot, Level
Directions
Head toward E Lafayette Sq on Main St, Turn right onto Lafayette Pkwy (US-29), Turn left onto Morgan St (US-27/US-29), Turn left onto W Bacon St.
Standard status
Pending
APN
0611D014016
Size
2,014 SF
Lot size
0.37 Acres
Taxes and HOA fees
Tax Year
24
Tax Annual Amount
2665
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Amenities
show room
office space
storage
restroom
Building Details
Year built
1972
Flooring type
Tile, Carpet
Building materials
Wood Siding
Listing Agency:
RE/MAX Results · RE/MAX International
(706) 845-7000
Listed By:
Rob Upchurch · License #202341
(706) 523-0014
Added: Mar 3
Changed: Aug 19
Last Checked: Sep 1 at 6:06AM
MLS# 10707153
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 0.37-acre commercial parcel includes a 2,014-square-foot building constructed in 1972. The existing improvements provide a showroom, office, storage area, and restroom, with tile and carpet flooring, central heating, and central air conditioning. The site is currently used as a car lot and includes 14 parking spaces.
Access is available through curb cuts on New Franklin Road and West Bacon Street. The property has public water and public sewer, along with cable availability. The sale includes the real estate only; the operating business is excluded.
Access is available through curb cuts on New Franklin Road and West Bacon Street. The property has public water and public sewer, along with cable availability. The sale includes the real estate only; the operating business is excluded.
Key Highlights
- 0.37‑acre commercial parcel with a 2,014‑square‑foot building
- 16‑CR‑Mx designation
- Curb cuts on New Franklin Rd and West Bacon St
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
$24,532
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
6.63%
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%
$490,640
$490.6K
Cap Rate 7%
$350,457
$350.5K
Cap Rate 9%
$272,578
$272.6K
Market Conditions
NOI Build-Up for 2,014 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
$36.7K $18.24/SF
− Vacancy
−$1.7K −$0.84/SF
EGI
$35.0K $17.40/SF
− OpEx
−$10.5K −$5.22/SF
NOI
$24.5K $12.18/SF
Area
Troup County, GA
Vacancy
4.60%
Lease Rate
$18.24 /SF/Yr
Expense Ratio
30.00%
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%
$490,640
Cap Rate 7%
$350,457
Cap Rate 9%
$272,578
Alternative Uses
Best Use
Retail
$350.5K
$306.7K – $408.9K
NOI $24,532 @ 7.0% cap · market cap 6.63%
Second Best
Industrial
$128.4K
$112.3K – $149.8K
NOI $8,985 @ 7.0% cap · market cap 2.43%
Theoretical Best
Office A
$450.6K
$394.3K – $525.7K
NOI $31,544 @ 7.0% cap · market cap 8.53%
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
1,154
Businesses Nearby
240k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 40%
Shops & Services 22%
Groceries 22%
Superstores 6%
Publix
Groceries
37,647 visits/mo
0.5 miles
McDonald's
Dining
18,204 visits/mo
0.4 miles
Taco Bell
Dining
16,779 visits/mo
0.3 miles
Aldi
Groceries
14,364 visits/mo
0.4 miles
Zaxby's Chicken Fingers & Buffalo Wings
Dining
14,066 visits/mo
0.4 miles
Demographics for 30240, GA
30,119
Population
12,782
Households
2.4
Avg Household Size
39
Median Age
28%
College-Educated
88%
High-School Grad
139.6 sq mi
ZIP Area
216
Density / Sq Mi
$59,521
Median Household Income
$40,611
Median Earnings
$1,035
Median Rent
$221,800
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Commercial land - Curb access from two streets, a 16-CR-Mx designation, and an existing commercial building support multiple property configurations.
Where is this commercial land located?
The property is located at 201 New Franklin Road Lagrange, GA.
What is the asking price?
The asking price for this property is $369,900.
What are key features of this property?
This property features: 0.37‑acre commercial parcel with a 2,014‑square‑foot building; 16‑CR‑Mx designation; Curb cuts on New Franklin Rd and West Bacon St
