Two-Story Office
For Sale
$899,900
2036 Ga Highway 21 S, Springfield, GA 31329
Commercial Sale, Springfield, GA
Property Size3,882 SF
Lot Size2.39 Acres
Price / SF$231.81
Days on Market513
Property Features for 2036 Ga Highway 21 S
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning
B-3
Zoning description
Commercial
Bathrooms
5
Full bathrooms
4
Half bathrooms
1
Rooms
Bathroom 5, Bathroom 1, Bathroom 2, Bathroom 3, Bathroom 4
Parking
24
Exterior features
Fence
Fencing
Fenced
Appliances
Dishwasher, Electric Water Heater, Microwave, Refrigerator
Directions
Take Hwy 21 N towards Springfield. Building will be on the left, just past Ralph Rahn Rd.
Standard status
Active
APN
04100-00000-024-000
Size
3,882 SF
Lot size
2.39 Acres
Taxes and HOA fees
Tax Year
2019
Tax Description
2.39 AC LOT 2 ZONED B-3
Tax Annual Amount
5217
Legal Description
2.39 AC LOT 2 ZONED B-3
Utilities
Sewer type
Septic Tank
Heating system
Electric (Heating), Central
Cooling system
Central Air, Electric
Water source
Well, Private
Amenities
patio
Building Details
Year built
1982
Floors in Building
2
Flooring type
Tile - Ceramic, Carpet
Building materials
Brick
Roof type
Asphalt
Architectural style
Other
Listing Agency:
Legacy Realty & Investment Man
(912) 826-0927
Listed By:
Alice Hurst · License #369012
(912) 665-0755
Added: Apr 17, 2025
Changed: Sep 8
Last Checked: Sep 11 at 3:06PM
MLS# SA329372
Copyright © 2026 Hive MLS. 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.
Set on 2.39 acres, this 3,882-square-foot office property provides a two-story brick building with a broad mix of work and support areas. The main floor includes a reception station, lobby, conference room, kitchen, two private offices, filing room, open office area, full bath, and half bath. Upstairs are a second lobby, five offices, and two full baths.
A separate 456 sqft building adds two more office spaces and a half bath. Exterior improvements include a large patio, concrete driveway, parking pads, and fencing. The property is located at 2036 GA Highway 21 S in Springfield, Georgia, and carries B-3 zoning. Additional physical details include ceramic tile and carpet flooring, central electric heating and cooling, a private well, septic tank, asphalt roofing, and 1982 construction.
A separate 456 sqft building adds two more office spaces and a half bath. Exterior improvements include a large patio, concrete driveway, parking pads, and fencing. The property is located at 2036 GA Highway 21 S in Springfield, Georgia, and carries B-3 zoning. Additional physical details include ceramic tile and carpet flooring, central electric heating and cooling, a private well, septic tank, asphalt roofing, and 1982 construction.
Key Highlights
- 3,882 square feet on 2.39 acres
- Two‑story all‑brick office building with 7 offices across both levels
- 456 sqft detached building with 2 office spaces and a half bath
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
$53,970
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
6.00%
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%
$1,079,400
$1.1M
Cap Rate 7%
$771,000
$771.0K
Cap Rate 9%
$599,667
$599.7K
Market Conditions
NOI Build-Up for 3,882 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
$86.2K $22.20/SF
− Vacancy
−$14.2K −$3.66/SF
EGI
$72.0K $18.54/SF
− OpEx
−$18.0K −$4.63/SF
NOI
$54.0K $13.90/SF
Area
Effingham County, GA
Vacancy
16.50%
Lease Rate
$22.20 /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%
$1,079,400
Cap Rate 7%
$771,000
Cap Rate 9%
$599,667
Alternative Uses
Best Use
Office B
$771.0K
$674.6K – $899.5K
NOI $53,970 @ 7.0% cap · market cap 6.00%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$3.63M
$3.17M – $4.23M
NOI $253,959 @ 7.0% cap · market cap 28.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
31
Businesses Nearby
Explore this area
Business Placement
Demographics for 31329, GA
9,760
Population
3,444
Households
2.8
Avg Household Size
37
Median Age
23%
College-Educated
91%
High-School Grad
92.3 sq mi
ZIP Area
106
Density / Sq Mi
$72,163
Median Household Income
$39,726
Median Earnings
$1,141
Median Rent
$221,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Office building - B-3-zoned office property with conference, kitchen, and private office areas.
Where is this office building located?
The property is located at 2036 Ga Highway 21 S Springfield, GA.
What is the asking price?
The asking price for this property is $899,900.
What are key features of this property?
This property features: 3,882 square feet on 2.39 acres; Two‑story all‑brick office building with 7 offices across both levels; 456 sqft detached building with 2 office spaces and a half bath
